To effectively manage company performance, you need an intuitive and unified planning, budgeting and consolidation solution.
The initial agenda of Lumbini Elite is to help our clients by delivering them with pragmatic solutions involving BPC.
The SAP Business Planning and Consolidation application accelerates planning and consolidated financial reporting processes. It supports planning, budgeting, and forecasting capabilities with management and legal consolidation functionality in a single application. You can quickly adjust plans and forecasts, shorten budget cycle time, close the books more quickly, help ensure compliance with regulatory and financial standards, and get the information you need to make more confident decisions.
Earlier financial planning system was Excel-based, with data collected and input manually. This was a slow and laborious process, which made consolidation extremely complex. It was given to inaccuracies and version control problems, and was causing two particular issues for the company as an upstream business:
It was inhibiting the ability to forecast expenditure and cash-flow on large capital projects, which is vital to inform strategic investment decisions.
The plan couldn’t easily be reforecast in response to challenges from Group Finance, which meant decision-making was slow to react to volatile market conditions.
Any new system would need to reflect the unique financial intricacies of upstream operations, for example: accounting for large capital projects, many of which were complex joint ventures, therefore they need to upgrade their financial planning capabilities and they needed a system that was tailored to the upstream energy business.
Following are the business challenges:
A newly-released version of SAP Business Planning and Consolidation (BPC 10.1) is recommended as the solution. As a powerful Enterprise Performance Management (EPM) tool, SAP BPC 10.1 would give company’s Finance team the capabilities it required to drive benefits in terms of
With SAP Business Planning and Consolidation you can streamline the process of creating and approving plans, budgets, and forecasts and closing the books. Empower business users and reduce training with intuitive interfaces. Help ensure data quality with a central repository. Align plans with strategic goals through top-down and bottom-up budgeting. Enable accurate, fast closing with automated consolidation processes. Meet statutory and management requirements with reporting and audit trail functionality. And you can reduce business and compliance risk with fast, accurate management and statutory reporting.
The new, powerful, automated reporting tool has had several important benefits including