TimkenSteel is a leading steel manufacturer of world-class, custom, clean steel that advances critical products in the world’s most demanding applications. Timken operates in 28 countries. The Timken Company brands include Timken, Fafnir, Philadelphia Gear, Interlube and Drives.
TimkenSteel realized that planning, budgeting, & forecasting was constrained with their outdated on-premise application. Upgrading to the latest on-premise version would have been a significant cost in both time and money, and there was a company-wide initiative to move to cloud.
Some of the company’s on-premise challenges included:
- Collected financial results, not performance drivers
- Provided limited insight to future; lack of “what-if” analysis
- Degraded throughout the year with blind spot for next year
TimkenSteel, partnered with AdvancedEPM Consulting, Inc., to implement Oracle’s Planning & Budgeting Cloud Service (PBCS). Two separate PBCS instances were created by migrating the on-premise applications for the distinct businesses.
To support their growth, TimkenSteel partnered with AdvancedEPM Consulting, Inc. and implemented Oracle’s Planning & Budgeting Cloud Service to enhance the overall planning processes. In addition to giving them the latest functionality at a lower cost, PBCS enabled TimkenSteel to have a faster implementation than upgrading their on-premise applications.