Client Overview
With a multigenerational outlook and enduring partnerships, the Group manages a multi-billion-dollar investment portfolio that includes Listed Equities, Private Equity, Real Estate, Fixed Income, and Foreign Exchange. The Olayan Group is a global enterprise originating in Saudi Arabia. It is a single-family-owned private concern.
The Challenge
The requirement was to implement an integrated Enterprise Performance Management (EPM) solution for financial consolidation, budgeting, planning, and reporting. The challenges faced internally were
- There were multiple data sets that were not consistent which made reporting a challenge
- The system had a disparity in legal and management
- Misalignment between budgeting, forecasting, and business goals
- There was a requirement for analysis reports, variance reports, and KPI dashboards
- Delays occurred in Cash flow reporting, currency variance analysis, and variance analysis. as they were done manually
Our Approach
We Implemented SAP BPC Financial Consolidation Solution, Analytics & CXO Dashboards
- We Conducted workshops to understand existing processes and made a common data structure that optimized data collection and data management
- By simplifying processes and streamlining business flows with Automated Business Rules
- Ensuring consistency by implementing data input forms, checkpoints, validations, and synchronized data for capturing movements and non-financial data
- Designed rules for automated reconciliation, elimination, and currency translation.
- Supporting Consolidation with a defined ownership structure
- We set up data cubes for Reporting and dashboards for multi-level analysis
Project Highlights
MDSap implemented SAP BPC for Financial Consolidation, integrating data from SAP ERP and legacy systems. We ensured
- user-friendly manual data input
- streamlined process workflow, automated business rules, drill-down analytics
- CXO dashboards. Enabled IFRS-compliant statutory
- Management reporting, including disclosure notes
Value-Driven Benefits
The client reduced time spent on
- Executing business processes by automating unifying and consolidating data with minimal manual intervention
- Single integrated solution for Budgeting, Planning, and Consolidation of financial information, generation of statutory, management, and IFRS compliance disclosure reporting
- Controls for complete transparency audit trails, and visibility on processes by automating business rules for elimination of intercompany transactions, investments, calculation of minority stakes, and goodwill
- Re-distribution of cost of shared services by automated allocation process
- Data consolidating and analyzing by quick data input
