Business case KPJ Group
KPJ Healthcare Berhad: company overview
- Malaysia’s leading provider of private healthcare services
- Head office in Kuala Lumpur, Malaysia
- Subsidiaries are located in Indonesia, Thailand, Bangladesh and Australia.
- Listed on the main market of Bursa Malaysia
- Over 12,000 employees
- Number of entities: 74
- More information: kpjhealth.com.my/
The return on investment – in a few words
- Centralized closing
Only one person was needed to perform the closing of group accounts, compared to four people previously.
- Fast closing with traceability of all figures
Sigma Conso helps the group to complete the closing efficiently within a short period of time. It is now easier for them to liaise with the auditors, thanks to the complete audit trail reports from the system.
The KPJ group, with 74 entities in the consolidation scope, is required to submit periodically to their ultimate shareholder Johor Corporation. They had been struggling with manual processes in MS Excel before they implemented our solution. Previously, in their spreadsheets, there were tons of worksheets and linkages with complex formulations, which have been built over the years, referencing to multiple external files.
Nevertheless, as they were unable to source the external files, many formulas and linkages were not able to be justified or proven to the auditor. And yet with such vulnerability, they needed to expedite the consolidation process due to the stricter timeline given by Johor Corporation and their own management.
The KPJ group chose Sigma Conso Consolidation & Reporting to automate and optimize their consolidation process and produce accurate financial statements for the decision-making process. Our in-depth know-how in the area of group reporting, coupled with our user-friendly solution has given the finance team confidence in choosing the Sigma Conso team. Our consistency in delivering successful projects also wins trust and confidence within the group.
The solutions from Sigma Conso offer a single source of truth by integrating a lot of isolated spreadsheets into one platform. Our solutions keep all modifications in one place, allowing multiple users to access the most updated figures and extract numerous reports based on a single source of truth.
After a successful implementation (despite the lack of time and resources), KPJ group managed to effectively complete their first live consolidation in Sigma Conso with little assistance of our consultant, defeating the impossible deadlines!
They are able to update all adjustments directly in Sigma Conso, which helps them to achieve fast closing and meet their reporting deadline. Moreover, they are furnished with a complete audit trail to support the adjustments made.
Only one person was needed to perform the closing of group accounts, compared to four people previously. Since then, not only have they been able to greatly reduce the time needed for closing their group accounts, but they have also pleased their auditor with more visibility of consolidation logics and significantly improved traceability of all figures.
Bringing Value to The Organization
Moreover, with the solution, users do not need to spend their precious time performing manual data coordination and collation, which leads to great time savings in the production of financial reports. The exceptional analysis reports in our solution also allows users to focus on performing more sophisticated analysis on the data.
Norherienda Abdul Kadir, Corporate Manager at KPJ Healthcare Berhad explains:
“Sigma Conso Consolidation & Reporting brings clarity, accuracy and confidence to our entire group reporting. This is one of the most user-friendly solutions we have ever used. Before we used Sigma Conso, we spent a lot of time working on spreadsheets just to tie the numbers. Great product and wonderful support team!”
The KPJ group perceives the scalability of the Sigma Conso solutions, and is planning to expand the usage of the system by using linked and interfaced systems, from their current information system (HITS system) to Sigma Conso, and next to budget and cashflow systems.