Business case Eiffage
Eiffage Group: key information
- Activity sector: construction and real estate
- 2016 turnover: €14 billion
- 550 consolidated subsidiaries, 240 Sigma Conso users
- Group listed on the Paris stock exchange (SBF 120)
- IFRS consolidation
- 64 000 employees around the world
- International group, present in 65 countries, 18 currencies
- More information: www.eiffage.com
The return on investment – in a few words
- Autonomy: the application’s configuration is very easy and enables the Eiffage Group to be independent of external consultants and adapt the parameters based on changes in the group.
- Performance: the innovative technology used by Sigma Conso provides clear performance gains despite high data volumes: consolidation calculations are done very quickly, in just a few minutes.
- Ergonomics: the application is easy to learn and was immediately adopted by all users, both at head office and in the subsidiaries. No problems arose during the changeover.
- Decision-making: simulations are very easy and quick with Sigma Conso Consolidation & Reporting (measuring the impact of changes in scope (disposals, acquisitions), the implementation of new standards, etc.) to help with strategic decision-making.
The Eiffage Group was looking for reliable, high-performance consolidation software that would enable them to independently prepare its quarterly consolidated accounts with half-year and annual reports.
The consolidation at Eiffage has the following specificities:
- IFRS consolidation with strict compliance and publication deadlines on June 30 and December 31. The group also does quarterly closing on 31 March and 30 September.
- It is a dynamic group: there are frequent changes in scope throughout the year (disposals, acquisitions, grouping of entities, etc.).
- Consolidation is organized in transparent legal levels with 17 sub-groups.
- Data volume is high (550 consolidation entities, 240 users).
The Eiffage Group’s accounting department was thus looking for an application suited to their needs: the Group wanted a tool that could be managed internally for increased flexibility. Not having to rely on a team of consultants for configuration changes provides enhanced responsiveness. In addition, the tool had to be able to handle large data volumes and very quick consolidations.
A call for tenders was issued to study all the software packages available on the market. At the end of this process, the Eiffage Group selected Sigma Conso Consolidation & Reporting.
The project was initiated in 2014 with the quarterly consolidation of September 2015 as the deadline. The deadlines were met and the Eiffage Group now has an application which perfectly meets their needs and a positive feedback from the end users. Sigma Conso Consolidation & Reporting is a very high-performance tool which enables the group to produce its consolidated reports while meeting the legal and internal deadlines.
Joël Marme, Eiffage Group Accounting Director explains: “We are completely satisfied with our choice: we immediately understood how easy the Sigma Conso Consolidation & Reporting application was to learn and to use. It is easy to administer and the software enabled us to be autonomous very quickly. The application produces consolidations quickly, despite the high data volumes. The restitution reports are complete and “retrieve-excel” requests are easy to do.”
Sigma Conso Consolidation & Reporting also enables us to easily run simulations, create pro forma accounts, etc…. which helps the Executive Management to make decisions. Sigma Conso Consolidation & Reporting also enables step-by-step consolidation. In Eiffage’s case, all the information is available: from the most summary level to the greatest level of detail. The contribution made by every business to the group’s result is shown without having to run multiple processes.
Change management was very straightforward: the internal feedback has been very positive. The 240 users quickly adopted the application and they immediately were autonomous with the new tool.
Joël Marme, Group accounting Director at Eiffage continues:
“Sigma Conso Consolidation & Reporting is a flexible and powerful consolidation software application, at the leading edge of technology. The tool is ideally suited to the needs of major groups like Eiffage. Full web, it can be deployed quickly and provides impressive performance. Its business line logic is very clear and makes it easy to learn at every level of the company. We are fully autonomous with the tool (configuration, report creation, interfaces, etc.): Sigma Conso gives us all the flexibility and rigour we need in a constantly changing environment.”