Helping Laing O'Rourke Execute Consolidation Faster, with Appropriate Access Control and Data Security

Throughout the development and delivery Clarivos was a true solution partner - fully committed to our strategic objectives and the successful fulfilment of the project

Matthew Fawbert, Head of FP&A (EMEA)

Outcomes

Increased confidence in the resulting reports and analysis

Financial analysis takes minutes rather than days

Less reliance on IT Services & Accountants

Faster response to business change

More time spent on value-added analysis work, less on number crunching and reconciliation

More accurate and agile reporting

The Challenge

Difficult to administer spreadsheet-based budgeting and planning process raising quality issues
Business planning process struggled to keep step with with rapid change to business data and complexity of inter company charging of resources
Budgeting process centralised rather than collaborative with top-down approach leading to lack of ownership by cost centre managers
Risk of unexplained variances between top-down view and bottom-up budgets
Problematic management of change control during budget iterations

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Technology in Action

CCH Tagetik - Financial Transformation Platform

Partner of the Year

Following an exhaustive competitive tender with Tier 1 consolidation vendors, LOR selected CCH Tagetik’s Corporate Performance Management system - an agile, continuous, and unified consolidation solution.

CCH Tagetik’s key selling point was that its CPM solution is extremely user friendly and flexible enough to provide consolidation, budgeting, forecasting and bespoke solutions

Graham Pattison, LOR FP&A Systems Manager

Project Deliverables

Statutory & Group Management Consolidation

Streamlined Tax Calculation

Long Term Contract Forecasting

Budgeting

Group Cash Flow and Liquidity Planning

Ability for two consolidations to be reconciled as part of LOR's statutory process

Streamline existing tax calculation and submission process and for the tax numbers

Start collecting separate fixed budget versions that they could also use for comparison

Manage short term liquidity by forecasting and analysing direct cash flows

Throughout the development and delivery Clarivos was a true solution partner - fully committed to our strategic objectives and the successful fulfilment of the project

Matthew Fawbert, Head of FP&A (EMEA)

Helping Laing O'Rourke Execute Consolidation Faster, with Appropriate Access Control and Data Security

Laing O'Rourke

Download Full Case Study

Outcomes

Top-down model was live on time, ahead of key budget business review
Bottom-up process increased collaboration and accountability
Reduced resources and time required to execute budget process
Knowledge transfer, supported by Clarivos, enhanced finance function self-sufficiency
Solid process foundation to deploy rolling forecasting
Stable application using familiar, trusted technology
Faster more powerful analytical capability to support decision making

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Throughout the development and delivery Clarivos was a true solution partner - fully committed to our strategic objectives and the successful fulfilment of the project

Matthew Fawbert, Head of FP&A (EMEA)

The Challenge

Difficult to administer spreadsheet-based budgeting and planning process raising quality issues
Business planning process struggled to keep step with with rapid change to business data and complexity of inter company charging of resources
Budgeting process centralised rather than collaborative with top-down approach leading to lack of ownership by cost centre managers
Risk of unexplained variances between top-down view and bottom-up budgets
Problematic management of change control during budget iterations

‍

Partner of the Year

TECHNOLOGY IN ACTION

CCH Tagetik’s key selling point was that its CPM solution is extremely user friendly and flexible enough to provide consolidation, budgeting, forecasting and bespoke solutions

Graham Pattison, LOR FP&A Systems Manager

Reflecting on the different projects, the financial and management accounts were really about replacing and improving existing systems but the new tax process and long-term contract forecasting are where the major added value is seen.

Graham Pattison - LOR FP&A Systems Manager

OUTCOMES

Top-down model was live on time, ahead of key budget business review
Bottom-up process increased collaboration and accountability
Reduced resources and time required to execute budget process
Knowledge transfer, supported by Clarivos, enhanced finance function self-sufficiency
Solid process foundation to deploy rolling forecasting
Stable application using familiar, trusted technology
Faster more powerful analytical capability to support decision making

‍

A Partner For Long Term Transformation

Throughout the development and delivery Clarivos was a true solution partner - fully committed to our strategic objectives and the successful fulfilment of the project

Matthew Fawbert, Head of FP&A (EMEA)

Helping Laing O'Rourke Execute Consolidation Faster, with Appropriate Access Control and Data Security

Outcomes

The Challenge

Technology in Action

Project Deliverables

Helping Laing O'Rourke Execute Consolidation Faster, with Appropriate Access Control and Data Security

Laing O'Rourke

Outcomes

The Challenge

TECHNOLOGY IN ACTION

OUTCOMES

A Partner For Long Term Transformation

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