Financial Consolidation Process at the Cosan group: the nightmare was over with a customized solution from CTI Global
Cosan was in need of financial consolidation of a group that involved 40 companies at the time, in an streamlined manner and with greater accuracy of data.
Up until then, work had been done using spreadsheets and text editors to report information to the market. The solution needed to accommodate the constant growth in the group’s portfolio, the significant number of companies, financial information in different currencies, multiple databases, countless internal and external reports and a high standard of corporate governance. The solution implemented replaced the manual process with an automated one and impacted the work of 30 people.
CTI Global developed an integrated, an agile and flexible solution capable of addressing finance team needs and accommodating the company's constant growth. Different currencies began to be automatically converted.
The solution is now integrated and extracts data from the ERP/SAP, it uses a single database and it is easy to use and does not require help from IT specialists. Data are automatically checked, guaranteeing greater consistency. With the solutions developed, enormous gains were made in transparency, consolidation and reporting.
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