Just in time
With its operations standardized on Bistech expertise and IBM technology, Coronado was able to easily complete its end-of-year reporting.
“We had everything finished by December thanks to the solution that Bistech provided,” adds Morgan. “We just couldn’t have moved on those timetables, but Bistech met and exceeded our objectives. We even had to play catchup sometimes.”
“We were able to get them up and running much more quickly than if they had to start from scratch,” continues Hoareau. “By using FPM Headstart, we cut out several weeks from the consolidation process.”
And ongoing reporting and financial reconciliation efforts will be much simpler now that the firm is on a global platform. “Our leadership team had no experience with Planning Analytics,” clarifies Morgan. “They hadn’t considered consolidating onto a single system in the past, but if we were going to use something across the business, it needed to be easy to use, and the IBM and Bistech solution is just that.”
He continues, stating: “We now click a button and have financial statements available and ready to use. We can then split that and run reports very quickly by entity or segment. It’s eliminated the need to manually reconcile spreadsheets as part of the process. It’s saved us hours every time we run a report because we don’t need to validate. We know that we have the right numbers.”
And beyond this initial consolidation, Coronado is also well positioned for future growth. “FPM Headstart is designed to do this over and over,” concludes Hoareau. “So they’ll be able to repeat this process quickly each time they grow.”