Global Container Terminals Inc. (GCT) has container terminals located on both North American coasts and has been a leader in the marine transportation industry for more than 100 years, transporting goods from ocean carriers to trucks or rail networks. With the introduction of ever-bigger ships, container ports today need to efficiently handle an increasing volume of containers. To meet this capacity challenge and improve competitiveness, GCT is improving and accelerating its financial planning and analysis processes to provide senior decision-makers with critical information to achieve strategic financial insights. Now with Workday Adaptive Planning, GCT has reduced its budget and forecast cycle significantly. A new income statement forecasting model makes it easy to do ad-hoc analysis on real-time data to accurately forecast revenues and costs. In addition, automating reporting with OfficeConnect means that with a click of a button, reports summarizing key performance drivers, including labor rates, revenue rates, and labor efficiency, can provide company leaders with the data they need to readily understand business performance and make strategic decisions for growth.
- Difficulty preparing accurate budgets or forecasts due to disjointed and decentralized planning processes
- Time-consuming manual reporting processes
- Inability to devote time to strategic analysis to better understand business performance
- Streamlined budget and forecasting cycles
- Easily access accurate real-time information to do strategic analysis
- Automated reporting quickly provides senior decision-makers with data on key performance indicators of the business