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Company Background

This short term insurance company is a leader in its field in South Africa and Botswana.

Objectives

Financial reporting across multiple currencies (RSA Rand and the Botswana Pula) was a time consuming manual process that delivered less than the bare essentials. The company required a tool that would allow local offices to view financial reports in their own currency and the parent company to view consolidated figures in multiple currencies. In addition to the standard monthly report packs, data visualisation capabilities such as drill-down and other OLAP features were required.

Resolutions

The company chose Financial Management Software for the financial reporting tool because it has the ability to integrate multiple currencies and can consolidate the financial statements for multiple organizations.

Benefits

Financial reporting across multiple currencies is now an automated process. We designed and implemeted a solution that gives them the power to view reports with built-in features that provide timely acess to key business performance crieria. This has resulted in cost savings and has enhanced business decision making capabilities.