Jan De Nul Group Case Study
Jan De Nul Group: key information
|Business sector:||Offshore, marine, civil, environment and project development|
|Company status:||Familiy business|
|2020 Sales Revenue:||€ 1.9 bn|
Summary of benefits perceived by the customer
- Centralized consolidation process
- Low staffing levels
- Autonomous use of the software
- Ability to interface with non-native data sources
- Seamless data traceability
The Jan De Nul Group produces consolidated accounts twice a year.
The consolidation process is centralized, performed by a single employee at the headquarters.
The consolidation complexity in the case of the Jan De Nul Group results from:
- Different currencies
- Conversion issues
- Complex group structure
Due to the strong growth of the group and consequent increase in management needs, consolidations were required at a higher frequency than the standard semiannual ones. The finance department required a reliable tool that could be the backbone of an efficient consolidation process, providing management with up-to-date financial information and that addressed the group’s growth and evolving needs.
Sigma Conso Consolidation & Reporting was selected following a competitive bidding process involving major competitors (SAP, IBM, Oracle).
Data originating from various proprietary systems, interfaces with Sigma Conso Consolidation & Reporting to deliver a smooth consolidation process with accurate results.
- The customer was able to maintain a centralised consolidation process
- The process automation enables one person to manage the consolidation of 170 entities
- Increased data reliability (Number of rejected pages after first consolidation was reduced by 97%)
- Autonomous software use, allowing the user to managing changes in consolidation scope and system parameters independently, without the need of third-party intervention
- Sigma Conso Consolidation & Reporting reliably interfaces with non-native data sources
- Seamless data traceability. An asset for the auditing process
The application has several useful functionalities such as the creation of Events (automating recurring entries).
Currency translation adjustments can be managed efficiently, and data traceability is guaranteed, simplifying the work of the auditors.
Marc De Raedt, Consolidation Manager at Jan De Nul explains:
“Amongst the numerous benefits that Sigma Conso Consolidation & Reporting provides us with, I particularly appreciate its ability to automatically create reports that show our (very complex) group structure. Before the implementation of the software, I had to create organization charts myself.”