GL Wand Expedites SAP Financial Reporting for HMX Group
GL Wand from Excel4apps consolidates critical SAP financial data for HMX Group's new business environment
RALEIGH, N.C., Sept. 14 /PRNewswire/ -- Financial reporting after a merger, acquisition, or new company formation is often challenging, as companies struggle to standardize information technology (IT) systems and consolidate data. Such was initially the case for premier clothing provider HMX Group, owner of famous brands like Hart Schaffner Marx, after the company was restructured last year. To expedite financial reporting from SAP/R3 in this environment, HMX Group turned to GL Wand, an Excel-based reporting tool from Excel4apps. With GL Wand, business users can immediately access live SAP data to create financial statements and ad hoc reports, without programming support or excessive familiarity with SAP.
"GL Wand has allowed our financial group to easily provide the necessary reports from an existing SAP installation across formerly autonomous business units, while also supporting a new strategy that includes a shared services financial organization," explained John Niemzyk, CIO of HMX Group. "We could not let IT become a bottleneck to quickly moving the business forward, and GL Wand gave financial personnel unfamiliar with SAP the ability to respond to new reporting requirements within a new organizational structure."
In addition to empowering business users, GL Wand also expedited financial reporting in HMX Group's evolving business environment because it did not require an immediate restructure of the Chart of Accounts, which can take from three to six months. Using its real time link with SAP, GL Wand bypasses the wait for building a unique data warehouse. Within just 30 days, HMX Group was using GL Wand for its closing process.
"When you establish a new company with a new business structure and processes, you must move at light speed, and GL Wand helped us take months off developing critical financial information," said Niemzyk. "After a free month-long trial of GL Wand, we began using the tool for our month-end closing process. It was a very quick and successful implementation."
Mining specific financial information from ERP systems like SAP can be stressful under normal circumstances, but especially so in a fast paced new company environment like that of HMX Group. Here, GL Wand's familiar environment and direct link with SAP data are again critical.
"With mergers, acquisitions and other new business structures, there is huge pressure to consolidate and standardize information from various ERP systems in a short time period," said Chris Meyer, Director Americas for Excel4apps. "It is here that GL Wand for both SAP and Oracle can play a critical role in helping organizations migrate to new reporting requirements. Because business users know Excel and GL Wand gives plug-and-play access to SAP data, actual deployment of the tool and productive use of new reports can be done in just hours instead of weeks or months."
A free trial of GL Wand for SAP is available for download at http://www.excel4apps.com/index.php?page=glwand-all-sap.
About Excel4apps
Excel4apps is a provider of best-in-class Excel based reporting and budget loading software for Oracle and SAP. Its award winning GL Wand, Budget Wand and Reports Wand products help Oracle and SAP financial professionals save time by delivering accurate and secure information in the familiar Excel environment. The company serves a broad range of industries, including financial services, education, utilities, insurance, hospitality, manufacturing and engineering. All products are available for immediate download and free trial, installing in minutes with no data warehouse and no additional hardware, setup or security configuration needed. Excel4apps maintains offices in the United States, United Kingdom, Australia, United Arab Emirates and South Africa. More information is available at www.excel4apps.com.
About HMX Group
HMX Group is America's leading tailored clothing company, with a diverse portfolio of brands, both owned and licensed, that are distributed through all domestic retail channels and internationally. HMX's most prominent brands include Hickey Freeman, Hart Schaffner Marx , Coppley, Monarchy, Christopher Blue, Exclusively Misook, Bobby Jones, Jack Nicklaus, and Austin Reed. The North American tailored clothing manufacturing is based in Rochester, N.Y.; Des Plaines, Ill.; and Hamilton, Ont.
SOURCE Excel4apps
Share this article