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When you’re dealing with close activities, we can help you manage and improve the processes required to meet both statutory and management reporting processes.
When you need to consolidate financials to provide group accounts with all it’s complexities including currency, intercompany and ownership, we can help you automate the complex financial reporting requirements needed to complete this.
A staple for any business, we can help you improve processes, connect people and find new efficiencies through the latest specialised technologies.
Helping you manage the final step of your financial close, disclosure management can help you deal with preparing and publishing financial statements and ensuring you’re compliant with regulatory standards.
We are also proud to offer technology solutions from Infor and Anaplan and as a trusted partner of these enterprise performance management providers we have both the expertise and flexibility across these platforms so that we can find the particular solution that most suits your specific business requirements.
Solution: Consolidation & Reporting| Industry: Wine & Spirits
Irish Distillers (IDL) use EPM for their quarterly forecasting and annual budgeting cycles where having one system which integrates actuals with forecasts and budgets enables them to increase productivity, and at the same time deliver accurate forecasts and plans to the business.
Codec implemented the latest version of Oracle EPM to provide faster internal reporting of Sales figures and full costs to management in IDL as well as the formal reporting of Financial why information to Irish Distillers parent company Pernod Ricard.
During month-end, financial data is made available 3-4 times a day from the core SAP systems into EPM in order to provide consolidated, translated data using different rates for both IDL business in the Republic and Northern Ireland. This enables IDL finance teams to slice and dice information to quickly respond to questions from the business at key times during the close.
Solution: Consolidation & Reporting| Industry: Building Materials
Kingspan worked with Codec to implement Infor EPM initially for Management Reporting for all of their business divisions globally. Before this each division acted autonomously providing monthly management reports in different formats to Kingspan’s group head office which then had to be reviewed, consolidated, reviewed and presented. This was a very labour-intensive process with a lot of risk involved as data was copied and pasted from various management packs into the group reporting pack.
With Codec’s help Kingspan have been able to standardise on submissions, and as well as this, provide additional features to the business divisions adding value and time-saving efficiencies around their reporting process. Following on from this Kingspan have replaced an old statutory reporting system (Great Plains) with the Infor EPM allowing for Management and Statutory reports to be available in one common application, again providing time-saving efficiencies and standardising on one common set of reports.
Solution: Consolidation & Reporting| Industry: Pharmaceuticals
Icon is a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries. Icon contacted Codec initially with respect to their Backlog Reporting. Their system was excel-based and had issues in relation to: non-confirming formats of reporting, an unstandardised set of rules\logic, a lot of manual effort required in relation to checking data. Consolidation of spreadsheets was onerous and time-consuming and knowledge was held by just 1 or 2 key people.
Codec provided a solution centred around Oracle EPM and Essbase. This provided a unified reporting and data collection method with data stored from all divisions (Europe, US, Latin America etc.) into a central database which could then be consolidated, and reported on easily by the group. Icon now benefits from a central source of information, automated loading of actuals from the General Ledgers and faster reporting of backlog and reduction of risk around business rules\logic.
Solution: Consolidation & Reporting| Industry: Medical Devices
Creganna belonging to the TE Connectivity group, chose Codec as the specialist partner to improve its Oracle EPM business model and incorporate the Advanced Cath company, previously acquired by the group. Codec was responsible for migrating the whole solution to the latest version and expanding the functionalities to accommodate the new company for its budget planning process.
As a result of the work Creganna have experience a significant improvement in performance calculations and queries are now faster than the previous system and there is a new cube dedicated only to reporting, reducing the access load in the planning application.