Gold mining company Consolidates for IFRS reporting on SAP BPC 10 Microsoft, Integrates with SAP Business One for Microsoft
Location: Denver, CO; Ankara, Turkey; Perth, Australia
Industry: Gold mining
Products and Services: Gold
Solution: SAP BPC
Implementation Partner: Akili
Situation and Challenges
- Initial BPC implementation had 3 source systems and 7 chart-of-accounts that client desired to consolidate.
- Client’s users are located worldwide in the United States, Turkey, and Australia.
- Shortening their financial close (consolidations) time frame.
- Re-distributing the work load for data collection to reduce the burden on the centralized financial team.
- Improve financial accuracy for complex accounting application (i.e., foreign currency, non-controlling and proportionate method subsidiaries).
- Client’s centralized finance team focused their time on evaluation and consolidation activities rather than data aggregation.
- Business units could measure their performance based on a standardized set of metrics.
- The ability to create “what-if” scenarios relating to potential acquisitions provides guidance in client’s M&A strategy.
- Client’s team members had previous implementation experience with Akili’s team.
- Client was looking to streamline the close and reporting process at an affordable price.