DENVER (PRWEB) October 22, 2007
Dorel is a global manufacturer and distributor of juvenile, recreational/leisure and home furnishings consumer products. The company sells its products under a suite of strong brands, including Safety 1st, Cosco, Eddie Bauer, Schwinn, Mongoose and GT and is the world's largest juvenile products company in its categories and is the leading marketer of bicycles in North America.
Dorel required a solution that would allow its senior management to better access and share financial information critical for timely operations planning and decision-making. The company also wanted to replace its current reporting tools with a unified solution that would streamline planning and forecasting processes and facilitate regulatory compliance.
After an extensive review of competitive offerings, Dorel chose Cognos 8 Business Intelligence, Cognos Planning and Cognos Controller to provide decision-makers with multi-dimensional operational performance management on one integrated platform.
Dorel will use Cognos 8 BI to report against key performance benchmarks, analyze timely information to uncover root causes of issues, and track trends, simplifying decision making. Cognos 8 Controller will be implemented to automate and structure the financial consolidation process, delivering validated financial information for internal and external reporting and providing a transparent, accurate and timely management view of enterprise-wide corporate performance. It is expected that Cognos 8 Controller will improve efficiencies in financial statement preparation, while also strengthening Dorel's internal control environment to optimize compliance with legislation, such as SOX, as well as other regulatory requirements worldwide. Finally, Dorel intends to use Cognos 8 Planning to develop consistent and accurate sales and operations plans and to allow for the preparation of up-to-date rolling forecasts in the most efficient manner possible.
In addition, Dorel will arm its executives with Cognos 8 Go! Mobile, enabling them to use their wireless handheld devices to read and securely interact with corporate performance information and make informed decisions regardless of their location or time.
"Cognos is universally recognized as a leader in its industry. In addition to providing a full suite of integrated performance management capabilities, Cognos also offers Dorel a strong worldwide support presence, which was a key influencing factor given our global operations," said Ian Farthing, Vice-President, Corporate Services at Dorel. "With Cognos, we will be gaining the highest degree of analysis, planning, and reporting capabilities coupled with the ease-of-use that will allow every user to actively influence decisions that will help drive growth and profitability."
Business Intelligence and financial consolidation are key elements of the Cognos Performance Management System, which combines technology, best practices, analytical applications and solutions, and a broad network of partners into a single performance management solution for customers.
"Organizations worldwide have come to trust Cognos to help improve service levels, gain visibility into revenue and profitability performance, control costs, and better manage extended and complex supply chains," said Paul Hoy, Global Manufacturing Industry Director at Cognos. "By selecting Cognos as their strategic performance management partner, Dorel will be able to more effectively align itself with customer needs, streamline operations and, ultimately, maximize bottom line performance."
Cognos is a recognized leader in delivering performance management solutions for the consumer goods industry. In fact, 19 of the top 20 consumer goods companies in the world use Cognos. In addition to Dorel, other leading CPG customers include Heinz, Miller Brewing, Fiskars Brands and Del Monte Foods. Cognos was named "Top Pure Play Business Intelligence Vendor" in Consumer Goods Technology (CGT) Magazine's 2007 Best in Class Rankings, as voted annually by CGT readers. For more information about Cognos solutions for the consumer packaged goods industry, please visit http://www.cognos.com/solutions/industry/manufacturing/index.html
Dorel Industries (TSX: DII.B, DII.A) is a global consumer products company engaged in the designing, manufacturing and marketing of a diverse portfolio of powerful consumer brands. These brands, such as Schwinn, Mongoose, GT, In-Step, Cosco, Safety 1st, Bebe-Confort, Maxi-Cosi and Quinny, are sold through its Juvenile, Home Furnishings, and Recreational/Leisure segments. The Company also markets certain products under licenses from Samsonite, Eddie Bauer and Disney Baby. Headquartered in Montreal and with operations in North America, Europe and Australia, the Company also has eight offices in China which oversee the sourcing, engineering and logistics of the Company's Asian supplier chain. Dorel employs approximately 4,700 people in 15 countries. Annual sales are US$1.8 billion and are made in over 60 countries worldwide. For more information please visit the Web site at: http://www.dorel.com
Cognos, the world leader in business intelligence and performance management solutions, provides world-class enterprise planning and BI software and services to help companies plan, understand and manage financial and operational performance.
Cognos brings together technology, analytical applications, best practices, and a broad network of partners to give customers a complete performance system. The Cognos performance system is an open and adaptive solution that leverages an organization's ERP, packaged applications, and database investments. It gives customers the ability to answer the questions -- How are we doing? Why are we on or off track? What should we do about it? - and enables them to understand and monitor current performance while planning future business strategies.
Cognos serves more than 23,000 customers in more than 135 countries, and its top 100 enterprise customers consistently outperform market indexes. Cognos performance management solutions and services are also available from more than 3,000 worldwide partners and resellers. For more information, visit the Cognos Web site at http://www.cognos.com.
Cognos and the Cognos logo are trademarks or registered trademarks of Cognos Incorporated in the United States and/or other countries. All other names are trademarks or registered trademarks of their respective companies. Note to Editors: Copies of previous Cognos press releases and Corporate and product information are available on Cognos' Web site at http://www.cognos.com