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eXtended Planning & Analysis project

Writer: Scalien DXBScalien DXB

When a Finance team wanted to solve time-consuming Budgeting and Forecast across the group, here's what they achieved


A Mining, Manufacturing, Industrial Machinery & Equipment Company

Revenue: USD 80 Million


Issues Addressed

The company faced critical challenges stemming from manual, time-intensive processes in budgeting and forecasting across multiple group entities. Key pain points included:

  • Difficulty in unifying actual data for financial closing and reporting.

  • Data mismatches leading to broken linkages between financial reports.

  • Significant obstacles in planning, management reporting, and statutory reporting caused by unreliable and fragmented data.


Transformation Solutions

A comprehensive solution was implemented to streamline processes and improve efficiency:

  1. Unified Data Accumulation:

    • Developed a clear, standardized process to accumulate business segment-wise and entity-wise data in a unified format.

  2. Data Integration Scripts:

    • Introduced scripts to integrate and map all necessary data to relevant reporting line items, ensuring consistency.

  3. Model Connectivity:

    • Linked Profit and Loss, Balance Sheet, and Cash Flow models across all planning cycles for seamless integration.

  4. Simulation Capabilities:

    • Enabled cost allocation simulations to improve accuracy and flexibility in the planning process.


Achieved Results

The transformation delivered significant improvements:

  1. Enhanced Data Integrity:

    • Improved the accuracy and reliability of financial data, creating a solid foundation for planning and reporting.

  2. Efficient Planning Processes:

    • Streamlined budgeting, forecasting, and planning activities, saving time and reducing complexities.

  3. Reduced IT Dependency:

    • Empowered teams to prepare data for budgeting, planning, and forecasting without relying heavily on IT support.


This transformation addressed the company’s manual and time-intensive processes, ensuring greater efficiency, reliability, and accuracy in financial planning and reporting.


 
 
 

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