Posted on

Solar Energy company uses Anaplan for Financial Consolidations

Solar Energy company uses Anaplan for Financial Consolidations, reducing month-end and quarter-end consolidations processes from 10 days to 5 days.

Client Profile

Location: San Francisco, CA
Industry: Energy Renewables & Environment
Products and Services: Solar Energy, Solar Service, Clean energy
Revenue: $305 Million
Employees: 1001-5000
Solution: Anaplan
Implementation Partner: Akili

Situation and Challenges

  • Client needed a fully functioning consolidations model to replace its previous excel solution.
  • The previous consolidations process was manually intensive and difficult to scale.
  • Intricate income statement mapping caused complex reporting challenges.

Project Objective

  • Create a consolidations model that would allow for a more efficient month-end process and provide dynamic visibility for senior management.

Implementation Highlights

  • Akili worked closely with the client’s accounting team to ensure a complete understanding of its financial consolidations process.
  • Daily touch points with the client’s subject matter experts allowed for transparency and understanding of the model design.
  • Client had all (100%) of the data extracts from source systems prior to the start of the project.
  • Aggressive five-week project timeline was completed on time, including client training.

Solution Benefits

  • All consolidation journal entries were moved to Anaplan online for complete visibility across the organization rather than having them staggered throughout multiple excel files.
  • The month-end and quarter-end consolidations processes were reduced from 10 days to 5 days.

Why Akili/Anaplan

  • Akili has extensive experience implementing consolidations solutions across multiple industries.
  • Akili was chosen because of its strong track record with Anaplan implementations at scale
Posted on

Anaplan for Sales & Operations Planning

Learn more about Anaplan for Sales & Operations Planning (S&OP)

Unlike traditional fragmented solutions, Anaplan Sales & Operations Planning (S&OP) unites all your sub-planning processes, including demand planning, supply planning, demand and supply balancing, and financial review, so that you can collaborate with other departments on a single source of truth. With Anaplan, you can gain consensus quickly and continuously refine your plans, as one change instantaneously ripples through all your demand and supply interconnections. The closed-loop S&OP process lets you keep up with fast-moving demand and the chaos of fragmented supply chains. Get the real-time visibility you need to rapidly course correct and align cross-functional resources to improve your revenues, margin, and operating performance. With Anaplan, you can embrace the chaos and use it to your advantage.

Anaplan-SOP

  • Real-Time “what-if” analysis
  • Consensus-driven flow
  • Planning and execution alignment
  • Demand planning
  • Supply planningLearn more 5

 

Posted on

Streamline Your Dynamic Planning Process Across Both Finance & Operations

AXIP Energy Services and Akili speak at the SAP-Centric Financials Conference at the Hyatt Regency in Dallas, TX  Feb. 21-22, 2017

Speakers:
Nagesh Thukral – Senior Director of Finance & Treasury, AXIP Energy Services
Josh Fadley – SAP Practice Director, Akili Inc.

Reporting at AXIP Energy was done completely in Excel. 40 tabs with over 100 named ranges provided limited visibility to our financial information, in turn creating inaccurate budgets and reports. Through AXIP’s implementation of BPC, Akili was able to help AXIP simplify and automate their planning process. AXIP implemented headcount and benefits planning based on drivers so the dollar amount is calculated automatically based on benefit % and number of heads. This has given AXIP complete insight to be a value adding department that provides recommendations that will achieve operational and financial success.

SAP-Financials-Conf-web

Posted on

How Anaplan Simplified the Monthly Capital Spend Forecasting Process at Tribune Media

Akili customer Tribune Media shares their Financial Planning and Analysis success story

With Anaplan for Finance you can plan, forecast, consolidate, analyze, and report – at scale and across your entire enterprise, with less effort, and more accuracy. Anaplan takes you beyond basic budgeting—linking advanced drivers and models to operational and financial plans across Finance, Sales, Operations, and HR.

Finance Anaplan

Learn more about how Anaplan can help you build financial plans and orchestrate performance with speed, precision, and true collaboration.

View the Slideshare below to see how Tribune Media used Anaplan to simplify their capital spending monthly forecasting process.

To find out more about how Akili can help you realize the benefits of the Anaplan platform, please contact us at info@akili.com

Posted on

DISH Network Supply Chain Success Story: A Journey to Collaborative Planning

Akili customer DISH Network shares their Supply Chain Success Story

As the market for digital television became increasingly saturated and competition for customers intensified, companies such as DISH Network moved to a technology-driven business model that would enable an agile supply chain. Partnering with Anaplan, DISH re-engineered its supply chain to meet growth objectives and satisfy consumer demand for an ever-greater variety of products and services.

Anaplan offers a solution that can reduce end-to-end supply chain costs and profitably align your supply chain to market opportunities.

Anaplan Supply Chain

View the Slideshare presentation below on how DISH Network is planning to boost profits and reduce the cost of holding inventory by eliminating manual, spreadsheet-driven processes.

Contact Akili for additional information about Anaplan’s Supply Chain capabilities for your company at info@akili.com

Posted on

Time Is Money — How to Speed Up the Financial Closing Process

A Business 2 Community article written by Alan Boyer, VP of Professional Services, Akili Inc.

It takes an average of eight days for an organization to complete the quarterly financial closing process, a half-day longer than just nine years ago. However, a speedy, but efficient, close helps management understand its organization’s financial health and make important decisions in a timely manner.

Accurate financial statements are essential for all organizations, and it is up to management to create processes that ensure accurate and timely reporting. Time is money, and shortening the closing process brings big advantages.

Why an Early Closing Matters

A survey by SAP and Deloitte indicates that company leaders want to close their financials much faster than average. The reasons varied, but most revolved around time — 44 percent wanted more time for analysis and auditing before financial statements were published; 31 percent wanted to reduce time and costs associated with closing; and, 13 percent wanted to push management and financial information out as quickly as possible.

Companies often make better decisions during a shorter closing process. When financial statements are created in a timely manner, they can be used to build forecasts and accelerate innovation. An early close also makes the accounting team more analysis-driven, rather than holding them in a scorekeeper role. And it reduces workload and creates more effective transaction processing.

Barriers to an Early Close

Company executives blame slower financial closing times on a variety of factors. According to the same survey, 40 percent of executives say it’s because of internal levels of review; 35 percent say it’s a growing need to identify and consolidate more detail for financial statements; and, 20 percent say it’s because more time is needed to check for errors.

Financial analysts only spend about 23 percent of their time on value-added analysis to the business. Speeding up the closing process helps analysts and others better utilize their time.

Efficiency and accuracy are essential in a closing, and many companies want to overcome these barriers and speed up their closings. The following three steps can increase the time, accuracy, and efficiency of a financial closing.

  1. Use an Automated Process

Too many manual steps in a closing can slow down the process. Using an automated system is essential for speediness. Forty-three percent of the companies that complete their monthly close in four or fewer days use an automated process. Additionally, 27 percent use some automated processes and 16 percent use little automation or none.

A highly automated system allows companies to close more than three days earlier than those not using automation. A consolidation software or enterprise resource planning system used to manage a close makes companies twice as satisfied as those using desktop spreadsheets as their primary tool for the closing process.

  1. Make It a Company Priority

Making a speedy closing process a top priority for the company will ensure that everyone involved has this in mind as they perform their daily tasks. Planning for a fast closing will also make the company run more efficiently.

When companies establish a clear program to reduce a closing timeframe, with management buy-in, they accomplish their goal 77 percent of the time, according to SAP and Deloitte. A clearly stated objective to close more quickly usually results in meeting that goal.

  1. Conduct a Post-Close Review

Assessing internal processes during the closing process, and afterward, identifies problems and areas that need improvement to speed up the close time. The review can also identify any overlapping of duties or redundancies in the process, which will create efficiencies within the company and potentially save money.

Automation, making speed a priority, and identifying ways to reduce the time associated with financial closings are ways companies can eliminate barriers to timely closings. Time is money, and these solutions promote speed, leading to potential cost savings, efficiencies, and better financial decisions in the long run.