Marc De Raedt, Director of Consolidation, at Jan De Nul Group, says: ‘Our group is constantly developing, with new projects and many worksites to manage and monitor worldwide. Due to the nature of our business, the entire consolidation process is centralised with me: it would be impossible to have someone specifically dedicated to consolidation at each of our sites! Therefore, I needed an efficient and reliable system in order to automate the process as much as possible. This is exactly what has been done with the introduction of Mona Group Reporting. The group has about 170 units, scattered around the world, requiring the management of multiple currencies. With the system we now have in place, I am able to perform the consolidation for the group highly efficiently (we consolidate two times per year).
Among the aspects I appreciate in Mona Group Reporting, is the ability to automatically produce reports showing the highly complex structure of the group. Previously, I had to create these organisation charts myself, which left me less time for tasks with higher added value. But more importantly, for me, Mona Group Reporting guarantees quick and accurate financial information, while the audit trail provided by the system is also one of the definite advantages of the solution. ‘
Dominique Galloy, CEO of Sigma Conso, added: ‘Mona Group Reporting has the flexibility to adapt to the needs of customers that are highly diverse in terms of size, organisation, etc. The pre-configuration makes the product easy to implement. Luxembourg is an important market for us, the subsidiary we have had there since 2008 is able to provide a personalised service to groups based in the area. Our local team has developed a Lux GAAP environment in our business software. We are pleased that Jan De Nul Group has opted for the reliability of Mona Group Reporting and the expertise of our business consultants to optimise the generation of its consolidated financial statements.’
Despite its position as a world leader Jan De Nul Group is a family business in the true sense of the word. The family De Nul started early 20th century as a civil engineering contractor. In 1951 De Nul executed his very first dredging project. Since then the company became the world leader in dredging works. Today the company employs more than 6,000 people. The activities of Jan De Nul Group entail 3 main business units: dredging projects (including rock installation and offshore works), civil engineering and environmental activities. Thanks to the investments in its own personnel and material, Jan De Nul Group is the owner of the most modern and technologically advanced dredging fleet in the world.