Financial Consolidation Solution for a Premium Chocolate Manufacturer in the CPG Space
Source: Satyam Computer Services
Mahindra Satyam implemented a Hyperion-based financial management solution for one of the world's leading manufacturer of premium chocolates. With a strong presence in the United States, Canada, Europe, and Asia, the chocolate company was facing issues with consolidation of financial data. It was difficult to co-ordinate collation of data because their financial users were spread across three continents - Asia, Europe and North America. They were also facing problems with getting the large volumes of data validated and certified by users. This included 27 months of historical data for each of the regions. The Hyperion financial management solution provided by Mahindra Satyam was able to help the chocolate company consolidate financial data and generate reports so users can undertake analysis for their financial and operational needs. This analysis is based on IFRS and US GAAP regulatory requirements. This application, which was used for roll up based on legal structure and management structure, also proved to be a good measure for performance management. This allowed customers to generate reports based on key KPIs such as finance, marketing and the supply chain. The Hyperion Financial Data Quality Management (FDQM) tool was used to maintain data quality across the implementation cycle to improve processes such as financial consolidation, statutory and managerial reporting, intercompany eliminations and currency translation, US GAAP and IFRS Compliance, and financial closer process and standardization across regions.