Case Study: Finance Transformation In Telecom - Spreadsheets Begone
- Tags:
- Business Unit,
- Finance,
- Financial,
- Financial Accounting,
- Financial Planning,
- Productivity,
- Spreadsheet,
- Telecommunications
- Source:
- Deloitte Touche Tohmatsu
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Overview: Corporate executives at this large telecom company wanted more detailed visibility into the drivers of each business unit’s financial performance. But a slow, spreadsheet-based budgeting, planning and forecasting process was clouding the line of sight. How could the company improve the transparency and timeliness of financial planning information â€" and use it to make better business decisions? Before undergoing finance transformation, each business unit submitted its planning information on a spreadsheet to the company’s central financial planning and analysis (FP&A) department at the end of each planning cycle. FP&A then consolidated the spreadsheets from all the business units to view the financial status of the company as a whole. Each business unit used unique formats and approaches to develop budgets and forecasts, limiting the comparability of the data. Issues arising from this process included:  Lack of corporate visibility into business-unit financials.  Limited analytical capabilities.  Ineffective push-down of plan to business units.  Lack of controls around errors.  Inefficient use of resources.
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Format: PDF | Size: 100KB | Date: Jun 2008 | Pages: 2
