Objectives
To implement a consolidation platform for monthly and yearly reporting purposes. PM10 was chosen for this purpose as it worked well with the SUN Accounting system that the Group was using.
The organisation
The Group was multi-national consisting of 11 distinct operational entities in seven different countries including Switzerland, UK, Dubai, Japan, China, Singapore and the United States. The Group was running two distinct SUN databases, one for the Europe and America region and one for the Middle East region.
Tasks
The first job was to relocate the databases to the same platform, following which PM10 was installed and implemented running over the one platform, albeit 11 different entities operating in seven different currencies.
Results
The implementation of PM10 saved in excess of five working days a month of processing time for the month-end management reporting cycle. It meant that foreign currency translations, inter-company reconciliations and eliminations along with consolidation journals were handled seamlessly and in real-time.
The Group benefitted from being able to review their consolidated position at the touch of a button.