Financial Performance Management
Bongi is the Financial Director of a large complex group Multinational Holdings (Pty) Ltd. She and her group accounting team perform the year-end consolidation on a spreadsheet with the accounting team having to keep manual track of the correct accounting of its subsidiaries, associates, and joint-ventures
Information from the underlying entities and divisions is captured manually into the consolidation spreadsheet
Inter-company eliminations are performed manually by Bongi and the group accounting team
Currency translations from functional currency into presentation currency are performed manually on a spreadsheet
Bongi approaches Lofty Brainchild to assist her in implementing a solution that will improve the year-end reporting process. She is hopeful that Lofty has the right solution to ensure that she and her team are saved from working long days, nights, and weekends during the year-end close process.
As similar challenges are currently being experienced within the budgeting process she also requests a budgeting and planning solution.
Bongi advises that she is wary of the costs post-implementation associated with IT systems specialist consultants should she and her team need to make changes to reporting parameters.
Upon defining the scope of her needs Lofty Brainchild’s consultants recommend the LucaNet.Financial Consolidation and LucaNet.Planner solutions for Multinational’s Financial Performance Management needs.
With the LucaNet.Financial Consolidation and LucaNet.Planner modules, Lofty Brainchild can provide Bongi with the following benefits:
