Case Study: Jetfly Group
Consolidation with Sigma Conso
To assist the group in its statutory consolidation, the Financial Management of Jetfly wanted to implement a professional software. Read the full case study now.
Jetfly Group: key information
- Jetfly Group consists of three major private airlines offering unique flight solutions: shared ownership, management and full ownership of Pilatus PC-12 and PC-24 aircraft in Europe and aircraft charters worldwide.
- Head office in Luxembourg
- 300 employees, including 150 pilots
- Several entities in the consolidation scope, mainly in Europe
- Replacement of Excel
- Customer of Sigma Conso since 2019
- More information: https://jetfly.com
Main benefits – in a few words
- Use of a modern and intuitive software application
- Reduction of the risk of errors: manual input is reduced to a minimum
- Complete traceability and a simplified audit
- The group can count on a continuous support of the Sigma Conso teams
Jetfly operates in the airline industry and is experiencing significant growth. Consolidation was performed in Excel until 2019. This resulted in:
- A lack of traceability of the figures
- Little flexibility and a lot of manual input
- Large files due to a high number of accumulated formulas, many bugs
To assist the group in its statutory consolidation, the Financial Management of Jetfly wanted to implement a professional software. Obtaining reliable information and full traceability of the data were crucial for the group. Jetfly launched a request for proposal to several software providers on the market, including Sigma Conso, recommended by their auditor Grant Thornton. Sigma Conso was eventually chosen as the partner to produce the consolidated financial statements.
The group chose Consolidation & Reporting in 2019 to perform the consolidation:
- The implementation went smoothly
- A training was organized for the users
- The group was able to use the standard functionalities available into the tool
The implementation of Consolidation & Reporting results in a reliable consolidation process and increased quality of the financial information.
- An intuitive, evolving and high-performance software to professionalize the consolidation
The group uses a modern application that is quick to use and assists them in the group’s evolution. The innovative technology used by Sigma Conso also offers an exceptionally high performance.
In addition, the implementation of the software reduces the risk of errors: information is managed centrally within the group, the entire consolidation process is automated and manual interventions are limited.
- Full traceability and a simplified audit
The extensive checks and logical validations, standard available in Consolidation & Reporting, ensure a reliable and optimal process. The history of the consolidation entries can be consulted at any time, thus ensuring perfect traceability of the data.
The auditors also appreciate the software since it offers complete transparency of the figures and simplifies their task. Communication with the auditors is therefore faster and easier, thanks to the audit reports that are standard available in the tool.
Jonathan Haddad, Group Controlling Director at Jetfly:
«Sigma Conso’s software provides an answer to all our requirements regarding consolidation. The tool is intuitive and has a modern and pleasant interface. The application is very performant and our data is now more reliable. What I also greatly appreciate is the support of Sigma Conso’s team of experts, including a very efficient help desk.»