Web based Group Consolidation and Budgeting system for an international Chemical Company

Reporting Features
1) Monthly reporting of 100 subsidiaries world-wide in local currency with over 20 product groups; bi-directional
2) Consolidation to base currencies
3) Direct tie-in to SAP for sales by country
4) P&L, Balance Sheet and Liquidity analysis
5) Key Figure Analysis (ROI, Productivity etc)
6) Multiple Currencies; Forecasting & budgeting

1) Financial Reporting (P&L, B/S, Sales by Country…) in standard currencies
2) Monthly Actuals and Forecasts to Year-End; Validated input in local currencies
3) Two-fold Security Concept: Secure bi-directional data transfer and fine-grained control of end-user access.
4) Email feedback for user with check-sums on data input; 1 hr turnaround time.

5) Central Administration of Parent data (companies, business units, chart of accounts, etc);
6) Definition of common chart of accounts and mappings
7) Connectivity to SAP
8) Export capacity
9) Three Step budgeting process (3 Year Plan, Next year summary level, Final detailed Budget with all costs and sales by country and Product Groups)
 

Design Features
1) Oracle database
2) DynaSight/inSight
3) Microsoft IIS web server
4) Data input, import, processing, reporting, and transfer
5) Multiple Security levels
6) Custom made
7) Internet (secure socket layer)

The financial reporting and budgeting system includes
complete Balance Sheets and Profit & Loss,
Cash Flow,
Sales Analysis, and
Currency Conversions Statements, as well as,
Consolidation reports at the holding company level,
Return on Invested Capital reports, and
Balanced Scorecard information.

Reports are prepared on an automated based and give controllers information at the group, company, business unit levels.  The ROI (return on investment) screen displays an interesting and informative information.  The ROI is basically 'operating results' divided by 'invested capital'.  Invested capital in this case is considered to be 'net assets' (assets minus liabilities) which in effect equal to the balance sheet equity.  The method of presentation shows the development of ROI from the summarized assets and liabilities to working capital (current assets minus current liabilities) to net assets.  The display shows the development of operating results from summarized sales and expensed.  In the process other key performance indicators are displayed such as 'capital turnover', 'return on sales', 'operating cash flow', 'days outstanding' for receivables and 'days of inventory'.
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Copyright: Williams & Partner, 2004