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Orascom Holding To Cut Budgeting And Reporting Time By 50% With Infor PM
Published Aug 3, 2011
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Infor, a leading provider of business application software serving more than 70,000 customers, today announced that Orascom has deployed Infor’s Performance Management solution at its head office in Cairo. The solution will provide financial planning, budgeting, reporting and consolidation for its 115 subsidiaries, increasing accuracy, visibility, profitability and efficiency.
News:
Infor PM will help centralize and automate the capture of financial data across Orascom’s 115 subsidiaries all over the globe, incorporating Orascom Development Holding.
The Infor financial products deployed at Orascom’s offices include Infor PM (Performance Management) and Infor FMS SunSystems (Financial Management).
Infor’s channel partner, ACT, worked with Orascom to provide support, project management and consultancy services in order to help tailor the solutions to the needs of the real estate & construction, tours operation, town management and hospitality sectors within Orascom.
Infor PM is a comprehensive solution that includes strategic management tools, planning and budgeting, forecasting, financial consolidation and reporting and analysis. It will enable Orascom to use a variety of planning methodologies and ‘what if’ scenarions. Infor PM will also help Orascom create realistic budgets and accurate forecasts, identify trends, and confidently report to stakeholders and decision makers.
Infor PM’s analytical reporting tool provides dashboards to clearly define and communicate the status of a project and identify Key Performance Indicators in each country and collectively at a group level.
Infor FMS SunSystems will help Orascom meet local and international standards for financials, and provide flexible comprehensive business analysis with integrated business analytics.
What Orascom says:
“The centralized data system provided by Infor is a welcome relief to Orascom as we can now consolidate the financials as well as non financial data of all our subsidiaries and use readily available tools for analytics and reporting,” said Mr. Mahmoud Zuaiter, SVP Chief Financial Officer, Orascom. “With Infor PM we expect to reduce our time taken for budgeting and reporting by more than half. Furthermore, system adoption by existing and new staff will be rapid, as the system is very easy to use.”
What ACT says:
“We have already worked extensively with Orascom over the last 6 years to successfully deploy SunSystems across their Middle East operations. Now strong financial performance management is the next step towards excellence”, said Mr. Maged Taha, Senior Applications Marketing Manager, ACT. “While using external auditing agencies has proved long and tedious to date, we expect Orascom to see an immediate ROI due to the automated data capture and the minimal staff required to use the system.”
What Infor says:
“With cautious optimism growing in the Middle East market, financial information is of utmost importance now more than ever. We are thrilled to have deployed Infor’s Performance Management solution across the construction, real estate and hospitality industry of Orascom Holding,” said Paul Hammond, Middle East General Manager, Infor . “Infor’s Performance Management solution will provide timely and accurate financial information, with thorough analytics in real time as well as during statutory and regulatory reporting periods.”
For more information:
Natasha D’Souza
The Portsmouth Group
Tel : +971 4 369 3575
Email: natasha.dsouza@theportsmouthgroup.com
Posted by
VMD - [Virtual Marketing Department]
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