Posted on

Gold mining company works with Akili to reduce their monthly close time frame

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
Revenue: $720M
Employees: 1000+
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.

Project Objective

  • 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).

Solution Benefits

  • 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.

Why Akili

  • 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.

Comments are closed.