- 50% Reduction in time for Planning, Analysis, and Reporting
Overview of the Client
Our client operates as a leading food and beverage service provider for travelers on a global scale. Their expertise lies in establishing inventive dining establishments in airports across the world. They offer distinctive and memorable food and beverage experiences while prioritizing top-notch customer service.
Business Challenges and Objectives
- The primary objective was to accelerate the forecasting processes of income statements, balance sheets, and cash flow statements with driver-based forecasting.
- The existing system used an Excel-based, bottom-up planning approach requiring significant manual effort and reconciliation to generate the reports.
- The initial Anaplan Model was limited to Sales, Direct Labor, and Cost of Sales.
- The client used an offline system to calculate the lease Income/Expense, G&A, and Capex Planning.
The Solution
- The TekLink Team implemented a top-down driver-based forecasting solution for all the financial statements.
- The solution is designed to be dynamic, enabling easy adjustments to the calculation methodologies and drivers, such as Sales, Direct Labor, DIO, DSO, DPO, and others.
- The solution also accommodates for a complete income statement, balance sheets, and cash flow statements.
- The team developed the Lease/Contract modules to calculate the lease income and expenditure.
- The other modules include Cost Planning, Corporate Workforce Planning, G & A Accounts, Depreciation, and Amortization.
- The solution allows the execution of version comparison reports such as Actual Vs. Forecasts that get converted to visuals aiding in providing actionable insights.
Business Outcomes and Benefits
- A 50% reduction in planning, analysis, and reporting time significantly decreased operational efforts.
- A flexible solution allowing for quick changes to drivers and growth percentages at different levels in the organizational hierarchy.
- Eliminating the use of spreadsheets by moving the planning process to Anaplan.
- The solution is easy-to-use and 100% owned by the business.
