Efficient & Reliable Planning and Reporting

  • implementation
  • management
  • continuous improvement

ORGANISATION

  • Global Engineering PLC – €40b, 100kFTEs
    • MENA – €400m revenue, 2500 FTEs,

project SCOPE

  • regain control over the month closing process:
    • month & year closing
    • corporate reporting
    • planning (budgeting and forecasting)

project GEOGRAPHY

Middle East and North Africa – MENA:
UAE (Dubai, Abu Dhabi), SAUDI ARABIA, QATAR, KUWAIT EGYPT, BAHRAIN, JORDAN, TUNESIA

FINDINGS

  • permanent delays in the closing of the books in the region
  • poor data quality
  • rare and non-precise forecasting
  • lack of BCF (Cash Flow) planning
  • lack of process standardization
  • operational departments not using the existing reports

CHALLENGES

  • 8 Legal Entities in different countries
  • Resistance for change
  • Time constraints
  • difficulty in data gathering from existing systems (dispersed data)
  • Finance staff tired and demotivated after many implementations
  • complicated and not coherent processes in each country

ACTIONS

  • Reporting Objectives Definition
  • Templates Standardization
  • Automating Data collection
  • Technology Integration
  • Data Validation and Cleansing
  • Streamlining Data Entry
  • Cross Functional Collaboration
  • Workflows (for review and approval)
  • Training and Documentation
  • Strict reporting calendar execution
  • Monthly Forecasting implementation
  • Feedback/Continuous improvement

DELIVERABLES

  1. month-closing delay reduced to 0 days
    • (before it used to be around 5 days of delays)
  2. New internal reporting packages
    • helping operational departments better control their areas
  3. monthly forecasting P&L and BCF (Cash Flow)
  4. shorter and more precise budgeting process
  5. Forecasting precision improvement
  6. Standardized KPIs measuring

EXPERTISE APPLIED

Finance & Accounting

  • Strategic Fin. Planning, Execution
  • Budgets/Forecasts/Actual P&L/BCF
  • FP&A, Statutory, Group Reporting
  • Financial and reporting discipline

Project Management

  • proper process planning
  • roadmaps preparation and execution
  • efficient resources allocation

Change management

  • addressing staff concerns,
  • facilitating cultural alignment
  • operational processes streamlining

Digital transformation

  • Business Intelligence (BI) & Data Management
    • SAP
    • CRM and ERP
  • additional IT tools implemened (AR collection, workflow)

DOWNLOAD FILE

Efficient and reliable reporting process (pdf) – less than 1MB

Back to project list

Call to have a short discussion (without any obligations)

Call + 44 7403 029 848