Optimize its statutory consolidation and produce consolidated budget reporting

Header Neoen

Step 1: Optimize its statutory consolidation

Context

Neoen performed its half-yearly and yearly consolidation in compliance with IFRS using Excel. It needed to identify different restatements easily. With the international expansion and rapid growth of its company (from 50 consolidated companies to 200), the Group needed a tool that was capable of managing large numbers of contracts in different currencies. Rapid international expansion led to the need to manage currencies.

Objectives

  • Reduce period-closing lead times
  • Involve local controllers in the reporting cycle
  • Automatic restatements
  • Improve the management of conversion differences
  • Automatic generation of cashflow
  • Store historical data
  • Improve the audit trail
  • Internationally renowned solution

Benefits

  • User-friendly reference consolidation solution
  • Specialized integrator
  • Predefined configuration for quick installation

Step 2: Extend the scope of SAP FC to budget reporting

Context

In 2014, Neoen chose Viareport to optimize its statutory consolidation. In 2015, the Group wanted to extend the scope of SAP FC to the budget reporting for approximately 200 companies. This was previously done in Excel, in compliance with strict budget constraints.

Objectives

  • Produce the monthly consolidated P&L and balance sheet
  • Simplify data retrieval
  • Facilitate the comparative analysis of budget and actual figures automatically
  • Empower and involve local controllers in the budget reporting cycle
  • Automate as many restatements as possible
  • Improve the management of conversion differences
  • Identify and manage intercompany transactions
  • Store historical data
  • Improve the audit trail

Solutions

  • Tailor a custom configuration
  • Fixed-price contract

We also faced time constraints here with a go live of less than three months and we had to ensure that there were no cost overruns.
The choice of Viareport was obvious. We were perfectly satisfied with the fixed-price contract and we wanted to keep the existing solution to simplify the comparison between consolidation and budget data.

SEBASTIEN FRANÇOIS
Head of Consolidation and Reporting, Neoen Group

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