EXOGROUP is a global group of companies that offer a range of digital services for other organizations. They have developed a set of proprietary technology platforms within an interconnected business ecosystem that enables clients to securely monetize online. Committed to high quality and continuous innovation in their solutions, all EXOGROUP companies and divisions strive for efficiency and teamwork in all their processes.

Challenge

Until now, EXOGROUP's financial planning and consolidation process was not up to the standards the group works to. Individual department and sales managers saved their financial and budget data in Excel spreadsheets and shared it via email. Every month when the finance department collected the data, 2 financiers had to spend 3 full working days entering the actual data into Excel spreadsheets. The manual process was time consuming and could lead to errors, but the most worrisome problem was the inconsistency of the data.

Solution

All parties agreed that something had to be done and the finance department took the initiative to find software that would allow them to improve in this field. After comparing various solutions, the team chose Cofi as it is easy to use, its capabilities allow it to adapt to the exponential growth of the group, and its cloud-based implementation, managed by Cofi, did not place a burden on the EXOGROUP IT team.

The easy implementation of the software has allowed EXOGROUP to automate the consolidation and reporting process, thus allowing the people involved in the budgeting process to dedicate their time to tasks with greater added value.

“We now have a single place where we analyze consistent data that allows us to make better decisions in less time,” says Federico Fazzi CFO of the group. The Finance and Sales teams, using Cofi's functionalities, have automated several of the processes that they previously did manually. "We have a consolidated vision and reporting that we can trust and that different managers work on and discuss," he adds, "and better visibility of important issues related to customers, sales and cost management and expenses, among others".

Result

The improvement was immediately apparent. After implementing Cofi, Federico recalls, "we did the first budget meeting like never before." Reinforced with consistent and trusted data, different departments can begin planning where to allocate resources to benefit business performance.

"Strategic meetings are now about the business, not about the integrity of the information," says Federico.