Invacare standardizes on SAS® Financial Management, escapes spreadsheet nightmare
Business analytics improves decision making and gives transparency to global medical products business
CARY, NC - To enable Invacare Corporation to boost profitability and deliver financial transparency to stakeholders, Invacare chose software from SAS, the leader in business analytics. Invacare, the world’s leading manufacturer and distributor of home medical equipment, will implement SAS Financial Management for financial consolidation, reporting, planning and budgeting.
“Because Invacare markets products in 80 countries, it faces diverse economic and regulatory pressures,” said Invacare CIO David Mewes. “After an exhaustive software evaluation, we knew that, for Invacare, SAS was the solution we needed. We particularly like how SAS combines consolidation, reporting, budgeting and planning in one product. Its integration with our business systems is superior. And, the price is competitive.”
Collect and consolidate data, analyze and report comparative results
With sales in the US, Australia, Canada, Europe, New Zealand and Asia, Invacare had stored financial data in geographically dispersed systems. Each group used its own set of spreadsheets, making data difficult to collect and consolidate for monthly closing, let alone to analyze and report comparative results. It was time to implement a top-tier solution equal to Invacare’s objective of maintaining its market leadership.
“We are digging out from the deluge of data in numerous spreadsheets - escaping death by spreadsheet,” Mewes added. “SAS Financial Management will give us a ‘one-touch view’ of everything going on globally. Closings and daily analysis will be faster and easier. With the worldwide control and consistency enabled by SAS Financial Management, we will be able to standardize metrics and methodologies across all business units. SAS will help us determine where we can cut costs, and make us more nimble and proactive in addressing market opportunities.”
Better and faster business decisions
When Invacare selected SAS Financial Management to solve the company’s business pains, they quickly recognized the value of this relationship with SAS. “SAS is committed to Invacare’s continued success. Making and, ultimately, the improved quality of life that Invacare customers count on,” said Phil Strand, Business Director, SAS Performance Management.
SAS Financial Management is a comprehensive Financial Intelligence solution for enterprise planning, budgeting, consolidation and reporting. With a proprietary calculation engine and accounting logic, this remarkable solution consolidates planning or historical information on demand, ensuring that the latest information is always available for decision makers and regulatory agencies. SAS’ other targeted business solutions support enterprise intelligence, customer intelligence, supply chain intelligence and more. SAS also offers turnkey solutions for vertical markets such as financial services, life sciences, healthcare, retail, manufacturing and others.
Invacare Corporation (NYSE: IVC), headquartered in Elyria, OH, is the global leader in the manufacture and distribution of innovative home and long-term care medical products that promote recovery and active lifestyles. The company has 6,100 associates and markets its products in 80 countries around the world. For more information about the company and its products, visit Invacare’s Web site at www.invacare.com.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 45,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world The Power to Know®
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