Today, with annual sales of nearly US$54 billion, Dow Chemical, Inc., is a truly global company. The company manages a portfolio of more than 5,000 science-based products that it delivers to customers in approximately 160 countries. With an emphasis on sustainability, Dow designs these products to address challenging global problems involving clean water, renewable energy, conservation, and agricultural productivity. To meet the demands of its worldwide customer base, the company runs 188 manufacturing sites in 35 different countries. With close to 50,000 employees, it operates more than 750 subsidiary companies around the world.
As a global enterprise, Dow coordinates activities across hundreds of subsidiaries worldwide. This was no easy task for its finance team, which runs more than 1,000 financial close jobs a month. To streamline and automate the process, the firm worked with Redwood and SAP® to deploy the SAP Financial Closing cockpit and the SAP CPS by Redwood
Now, everything is at our fingertips, which substantially improves our financial close visibility.
Once Dow implemented SAP CPS by Redwood, they realized increased efficiency, improved visibility, and reduced costs. They dramatically streamlined financial operations. Spreadsheets are a thing of the past, and IT is free to focus on other activities that drive better business performance. A typical close now takes a fraction of the time and effort compared to the manual processes of yesterday. Business users are now empowered to manage the financial close process.
Simplified: Today, the financial group at Dow enjoys a powerful, automated cockpit that serves as a single point of entry for all of its financial closing activities.
Transparent: As the financial close process moves along, Dow can track progress with a complete, real-time overview of closing status and drill-down functionality for more details.
Connected: SAP CPS by Redwood enables highly connected automation throughout their Dow's enterprise, bringing their SAP ERP application, SAP NetWeaver® Business Warehouse and other non-SAP solutions together for a coordinated close process.