Solving the Financial Puzzle of Spain's Fastest Growing Telecom
Size: Over 10 million clients and more than 1000 employees.
About: One of the largest telecom providers in Spain offering fixed line, mobile, and internet services to residential customers, businesses and operators. It is one of the fastest growing operators in the market after having acquired several popular brands.
Technologies: Vena Solutions
Extended CPM Team: CIS Consulting
The Reporting Puzzle
The monthly closing process in the company consisted of extracting large amounts of SAP data, along with other sources and manual data, that subsequently had to be treated with a series of VBA scripts. The data blocks were then manipulated in their corresponding Excel file depending on the category (revenue, cost, opex etc.), brand, and segment of movement.
Due to the constantly-changing telecommunication business environment and their original reporting approach, the process was fragmented, decentralized and highly manual, forcing users to make constant modifications and adaptations to dozens of Excel files in various locations. This led to a high risk of human error, duplicates and redundancy which required constant validations throughout the process.
Solving the problem with Vena
The CIS team introduced the company to Vena Solutions, a tool that could help lead their Excel-based financial reporting into a new era of performance management. Together we have implemented a process solution that enables the company to automate the initial transformations of their source data (SAP) to then follow a workflow that indicates to each user what task to perform in a centralized repository of Excel files. These files are connected to a data model that allows for automatic updates and where transformations or manipulations of the data are carried out with minimum user input.
The data processing now carried out with Vena also allows their finance team to perform different allocations whilst preserving every level of analytical detail, and analyse information that was previously unavailable. It also eliminates the risk of losing work when dragging formulas or having several files opened by different users - a reality faced by many finance teams using Excel.
“The integration of the finance team in the development and implementation has been key to the success of the project as well as to achieve total independence in the evolution and maintenance of the life of the solution"
Santiago Ruiz, CPM Sr Consultant