Infor Performance Management to Drive Consolidation, Planning, Budgeting
and Reporting for Orascom’s 115 subsidiaries
Cairo, Egypt, – August 03, 2011 – 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
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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.
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The Infor financial products deployed at Orascom’s offices include Infor
PM (Performance Management) and Infor FMS SunSystems (Financial
Management).
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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.
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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.
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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.
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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.”
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