AM/NS Calvert – a joint venture between ArcelorMittal and Nippon Steel & Sumitomo Metal Corp, was recently named finalist for the American Metal Market’s Fifth Annual Awards for Steel Excellence
“This year saw a record number of applicants and nominations for these prestigious awards with entries from all sectors of the industry and many parts of the world,” David Brooks, senior vice president and editor in chief of American Metal Market, commented on the selection process. “Because of the size and caliber of this year’s nomination pool, identifying the finalists that reflect true innovation was a challenge.”
AM/NS Calvert objective was to dramatically change and improve its process for managing financial analysis, reporting and action in the steel business in Alabama by implementing a new IT-solution. AM/NS Calvert wanted to spend less time developing spreadsheets and more time analyzing and making important financial and business decisions.
By implementing the SAP HANA platform and SAP Business Objects analytical applications, the steel producing company has a new financial reporting and analysis framework that allows a more proactive and predictive management approach. The company is able to compile and analyze large amounts of Data in a fraction of the time and deliver timely and valuable financial information back to the business. AM/NS Calvert now saves 20 percent of annual costs in the IT-department and the extracting and reporting of global controlling data went down from two days to 30 seconds. All sales document types for a full year can be refreshed in two seconds and margin analysis of three years of historical data are now done in only ten seconds.
A panel of judges comprised of steel industry experts will select a winner in each of 14 categories. Winners will be announced at the annual Steel Awards Dinner on June 17 in New York City at the Edison Ballroom held in conjunction with the global Steel Success Strategies XXIX conference presented by American Metal Market and World Steel Dynamics.
for More information: https://finance.yahoo.com/news/thirty-nine-companies-named-finalists-063000296.html