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Astaldi Group


ASTALDI

Financial Planning, Consolidation, Budgeting, Executive Dashboard, Enterprise Risk Management


The project resulted in an improved planning process and an improved analysis of Profit & Loss and financial position. Furthermore, the project has been the catalyst for change management within the organization, including forecasting our Profit & Loss and financial positions based on individual customer projects. This has resulted in a 50% reduction in manual processes.

Marco Caucci Molara Group Planning and Control Manager


 

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the challenge

Astaldi Group is a leading general contractor and the second largest construction company in Italy. Several growing business challenges required Astaldi to replace its existing system with an advanced Corporate Performance Management and Financial Governance platform to manage capital and cash-flow planning for individual client projects, the monthly close process, management reporting, budgeting, and statutory consolidation in a single, unified software solution. As a listed company on the Italian Stock Exchange, Astaldi is required to produce a lot of financial information in a short time-frame.

Benefits

Benefits


Forecasts by project

Monthly forecasts by project generation, progress monitoring and profitability indicators

Optimized decision-making process

A performance scorecard provides management with immediate insights into economic indicators

Improved business performance
Collaboration & communication at all levels, from senior executives to down to project managers
Significant reduction in manual processes

Manual effort (data entry, processing and calculation) reduced by 50%

Optimized reporting

Reporting delivered from a single source for actual and budget data as well as statutory and management data

Streamlined global financial processes

Monthly closing, consolidation, reporting, budgeting, financial planning, and executive dashboards

the solution

To support these business requirements Astaldi needed to introduce a new paradigm in the management of its Performance Management and Financial Governance challenges. Astaldi needed to streamline the global financial processes (including monthly closure, consolidation, reporting, budgeting, financial planning, and executive dashboards).  They needed to decentralize specific financial processes at worldwide level, and unify multiple business applications within a single unified software solution.

 

Other major objectives of the project included the ability to manage all innovations and additional reporting requirements introduced by IAS/IFRS as well as comply with Italy’s Law 262/2005 (Italian SOX), manage multi-currency consolidations, reorganize and audit on the budgeting processes, redefine Key Performance Indicators (KPI) and produce executive dashboards to support corporate strategy execution, reduce lead-time, and minimize overall technical and IT maintenance costs (Total Cost of Ownership – TCO).

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