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Company info

Business sector
Development and manufacturing of technical materials
Founded
1912
Headquarters
Lyon, Badinieres (France)
Sales revenue
€ 328 million
Company website
https://www.porcher-ind.com/

Summary of benefits perceived by the customer

  • Flexibility: the application's easy configuration enables quick and easy integration of all new acquisitions made as part of external growth operations.
  • Ergonomic: the application is easy to learn. The data entry interface is simple and efficient. Reporting statements can be created easily and quickly.
  • Fast Close: the ergonomics and performance of Sigma Conso Consolidation & Reporting shorten closing times while guaranteeing high quality financial information.

The benefits - in brief

  • Flexible: the application’s simple configuration enables quick and easy integration of all new acquisitions
  • User-friendly: the application is intelligible, and the user-interface is simple and clear. Reporting statements can be generated effortlessly and efficiently.
  • Fast Close: the ergonomics and performance of Sigma Conso Consolidation & Reporting shorten closing times while guaranteeing high quality financial information.

Background

Starting from the specialization in the weaving of natural silk in 1912, Porcher Industries evolved to become a pioneer in technical materials in the 1950s. The company has grown into an international group, combining textiles with chemistry that enable their cutting-edge clients in the fields of aerospace and defence, automotive, construction, energy and sport, to anticipate technical and functional evolutions relative to the most complex textile, technical and composite materials.

At Porcher Industries, the innovation centre is continuously researching new products and processes, creating the materials of the future.

With the arrival of a new shareholder who was demanding faster consolidated reports at a higher frequency, Porcher Industries judged their consolidation software as inadequate and not fit for purpose.

Following a call for tenders, Porcher Industries selected Sigma Conso Consolidation and Reporting as their software of choice, since it provided the most complete solution for their needs:

  • Quick, error-free implementation
  • Autonomous configurability allowing for simple, flexible management of changes in consolidation scope, new currencies, etc.
  • Fast close: the application’s accurate algorithms and high level of automation are significant assets for reducing financial close times
  • Unified statutory and management consolidation: Sigma Conso’s software is a complete statutory consolidation and reporting solution.

The result

Florent Chevalier, Chief Administrative Officer Europe at Porcher Industries, stated that: 'Choosing Sigma Conso enabled us to meet our commitments: we had only a few months to change applications and be fully operational for the September 2016 close.

The Sigma Conso application provides a meticulous framework with many controls, which is very reassuring for data quality. The application is also very user-friendly: all inputs (bundles, flows, interco, etc.) are done on the same screen. Exporting is very easy, the set of reports provided is very complete, the link to Excel is simple and very powerful and interco reconciliation is very clear.'

The finance team was autonomous after three days of training and was able to redo the June consolidation.

Sigma Conso Consolidation & Reporting meets the requirements of the Group's new shareholder for faster, more frequent consolidations (world, Europe). The Group has moved from a monthly close at D+20 to D+12 and plans to further reduce the time to D+5.

In addition, Porcher Industries has an active external growth policy and the new application enables the quick and easy inclusion of new companies in the consolidation.

Company info

Business sector
Development and manufacturing of technical materials
Founded
1912
Headquarters
Lyon, Badinieres (France)
Sales revenue
€ 328 million
Company website
https://www.porcher-ind.com/

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