Case Study | Neoen Group has chosen Conso&Report for its statutory consolidation

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Le 7 April 2020

Optimize its statutory consolidation and produce consolidated budget reporting

Step 1: Optimize its statutory consolidation

Context

Neoen performed its half-yearly and yearly consolidation in compliance with IFRS using Excel. It needed to identify different restatements easily. With the international expansion and rapid growth of its company (from 50 consolidated companies to 200), the Group needed a tool that was capable of managing large numbers of contracts in different currencies. Rapid international expansion led to the need to manage currencies.

Objectives

● Reduce period-closing lead times
● Involve local controllers in the reporting cycle ● Automatic restatements
● Improve the management of conversion differences
● Automatic generation of cashflow
● Store historical data
● Improve the audit trail
● Internationally renowned solution

● User-friendly reference consolidation solution
● Specialized integrator
● Predefined configuration for quick installation

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Step 2: Extend the scope of SAP FC to budget reporting

Context

In 2014, Neoen chose Viareport to optimize its statutory consolidation. In 2015, the Group wanted to extend the scope of SAP FC to the budget reporting for approximately 200 companies. This was previously done in Excel, in compliance with strict budget constraints.

Objectives

● Produce the monthly consolidated P&L and balance sheet
● Simplify data retrieval
● Facilitate the comparative analysis of budget and actual figures automatically
● Empower and involve local controllers in the budget reporting cycle
● Automate as many restatements as possible
● Improve the management of conversion differences
● Identify and manage intercompany transactions
● Store historical data
● Improve the audit trail

Solutions

● Tailor a custom configuration
● Fixed-price contract

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" Firstly, we faced constraints in terms of time and resources. Our human resources were limited and we had to ask an external firm to provide assistance. With a go live of less than three months, our lead times were also quite short. We also needed to control costs and select the solution that would enable us to attain our objectives. With its fixed-price contract, Viareport gave us greater control over our budget. "

Sebastien François
Head of Consolidation and Reporting, Neoen Group

" We therefore chose Viareport for various reasons:
• Firstly, SAP FC is a reference solution that is internationally renowned and user-friendly as compared with other market solutions.
• Viareport is a service provider that does more than resell a standard solution. It is a specialized
integrator. The additional solutions are practical and adapted to our needs.
• We were also happy with the predefined configuration because we wanted quick implementation to meet our time constraints and short lead times. "

Sebastien François
Head of Consolidation and Reporting, Neoen Group

" We also faced time constraints here with a go live of less than three months and we had to ensure that there were no cost overruns.
The choice of Viareport was obvious. We were perfectly satisfied with the fixed-price contract and we wanted to keep the existing solution to simplify the comparison between consolidation and budget data. "

Sebastien François
Head of Consolidation and Reporting, Neoen Group

" The Viareport offering provided flexibility during deployment thanks to the cloud-based solution. Employees can access the application anywhere in the world, from Australia to Mexico. "

Sebastien François
Head of Consolidation and Reporting, Neoen Group
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Conso&Report

With Conso & Report, Viareport highlights its expertise in both software development and financial consolidation by improving on the user experience.  Conso & Report provides a solution to issues reported by SaaS-based customers, such as incompatibility with modern browsers, complex navigation and a non-intuitive interface with too many screens. Conso & Report is available in our Finance Cloud.

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