Cobham develops, delivers, and supports leading-edge aerospace and defense technology and systems. Based in Dorset in the UK with 11,000 employees across five continents, Cobham has three primary operating divisions, nine strategic business units, and 55 operating companies, with customers and partners in more than 100 countries.
As a large public company, the senior executive team relies on consistent, timely access to management information to run the business and execute its strategy. Every month, Cobham's 55 companies report to the main holding company, but during one recent year, the company reached a point where the capabilities of its previous reporting system were being stretched beyond system limits.
The management team needed a new flexible approach to reporting, storing, understanding, and distributing company information, and a system that would facilitate high-quality reports.
Cobham chose Infor10 Corporate Performance Management (PM10) over eight other solutions, based on its proven capabilities at reference sites, its ease of use by finance personnel, and the scope it presented for Cobham to exercise significant control over developing and running the system. Cobham also had great confidence in the Infor Consulting Services team to implement the solution.
"In our selection process, Infor stood out for a number of reasons," explains Ken McCormick, head of management reporting at Cobham. "The functionality of the solution met our needs exceptionally well, and the team demonstrated a thorough understanding of both finance and technology issues-a quality that is rarer than it should be in the software industry."
The implementation was tight because it had to fit within Cobham's financial calendar, yet ICS delivered on time and on budget.
Cobham now uses Infor PM10 for all its financial consolidation processes across the group, from annual budgeting cycles and monthly reporting of results, to strategic planning, statutory reporting, and reforecasting.
"Testament to the intuitive nature of Corporate Performance Management is that feedback from our 200 users has been fantastic. They have described the system as robust, user-friendly, and logical, which has helped to ensure a smooth transition," McCormick adds. "The speed at which information can be produced is impressive, yet quality and flexibility are not compromised.
"Looking ahead, we plan to make greater use of the planning capabilities in the system and move to automated data loading to enhance productivity of month-end processes further. We are also looking at using the solution for improved analysis through KPIs, scorecards, and key metrics."