EnviroServ, a specialised waste management solutions provider, will implement Microsoft Office PerformancePoint Server 2007 to streamline and improve its financial reporting, budgeting and forecasting processes.
This is the first solution of its kind in South Africa using PerformancePoint 2007 for financial reporting capabilities and will be implemented and configured by Microsoft Gold Certified partner, IS Partners.
It will ensure overall financial consolidation as well as easier and faster preparation of management packs and financial and operational reports.
Through its operating divisions, EnviroServ provides waste management services to multiple industries. The finance department is responsible for gathering, consolidating and aggregating information from various divisions, branches and company subsidiaries.
The company previously relied on base reporting tools in its ERP system and Excel as a standalone tool to prepare its monthly management reports. PerformancePoint Server will automate all financial processes, from data capture and consolidation of financial results, to generating management reports for submission to EnviroServ's head office.
"This will allow finance to allocate their time to analysis rather than manual chores, such as manipulating figures, which are prone to human error and extremely time-consuming," says Pierre Naude, PerformancePoint product manager at IS Partners.
The aim of the project is to cut down the time spent on data capture and management of spreadsheets, and reduce the reporting cycle to five working days.
"PerformancePoint offers a user friendly environment that will allow for the automatic extraction of financial data from EnviroServ's various source systems. Workflow configuration will further ensure that captured information can be reviewed, approved and notifications sent via Outlook through all stages of the process," Naude says.
"Reports can also be easily exported to PowerPoint and Excel for presentation and further analysis."
The solution will be further extended to allow for activity-based budgeting and rolling forecasts and bring a greater focus to the key financial and operational drivers of costs and revenues. "This will enable the company to utilise the budget and forecasting process as an effective management and strategic tool," says Raymon Rocher, Group FD of EnviroServ.
"As an immediate need, the financial consolidation was uppermost in our mind when choosing the tool we needed," says David Funck, General Manager IS, for the group. "We are hoping to extend PerformancePoint to encompass our future BI reporting needs, thereby allowing us to start reporting off multiple operational systems across the group."
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