Velcro Companies
How Velcro Companies Brings its Global Business Together
The inventor of the Original VELCRO® Brand hook and loop fastener standardized financial processes on the Board Enterprise Planning Platform to great effect.
Velcro Companies, a US-based textile manufacturer, previously operated as a siloed organization. Lacking consistent and aligned processes, they invested in Board to help bring all regional teams into the same system and establish a collaborative place for planning and forecasting. With Board, the finance team has improved their overall performance and increased the speed at which they deliver key data and insights to executive leadership. Now more connected and efficient, Velcro Companies achieves a faster monthly close and has capacity for strategic planning.
- Industry: Manufacturing, Textile
- Department: Finance
- Patents: 400+
In partnership with:
Velcro Companies, a US-based textile manufacturer known for the invention of the Original VELCRO® Brand hook and loop fastener, struggled to align its various regional processes, leading to a siloed organization. This lack of consistency led to inefficient planning and a lengthy process to deliver financial data to executive leadership. With their eyes set on establishing a single source of truth for key financials and other data, they began a journey with Board to consolidate financial processes and enhance collaboration across the finance team.
From the start, Board’s ease of use enabled all users, at varying levels of IT competency, to derive value and work together to achieve faster and more accurate financial data output. The Board Enterprise Planning Platform enabled everyone to start following the same processes, allowing for consistent assumptions and results. With support from Board Partner CFO Solutions, Velcro Companies continuously enhances their solution and provides users with reliable resources. The team now delivers budget impact details to executive leadership in just 10 minutes, reclaiming an entire day’s worth of time in trying to collect this information.
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