Case Study
How TPG Telecom modernised Financial Planning and Reporting in the middle of a major merger
- Telecom
- Finance
TPG Telecom is the second largest telecommunications company listed on the ASX, having formed through the merger of TPG and Vodafone.
Prior to the merger, Minerva Partners was engaged by Vodafone to modernise its financial planning platform. Vodafone required a tool to automate, integrate, and streamline its financial processes, and could support its annual budgeting process.
At the time, Vodafone was using a legacy tool, which meant the majority of its monthly financial reporting processes were completed through Excel. This was a time-consuming and error-prone process. Teams did not have access to a holistic, real-time update of the final results and had to rely on their respective Excel workbooks. If there were adjustments or additions required, these reports would need to be generated again, manually.
Minerva Partners helped by designing, building, and delivering an end-to-end solution to streamline Vodafone’s existing financial reporting process. The modern planning tool, Jedox, was chosen to improve efficiency and optimise corporate budgeting and key management reporting processes.
When Vodafone merged with TPG, Minerva Partners supported its finance teams through this complex process.
“Jedox helped centralise and streamline monthly financial reporting for both financial and non-financial information and helped establish a clear source of truth.
The tool was easily adopted by all areas of the finance function and has a high engagement in both planning and forecasting across the business.”, Enda Finnerty, General Manager Finance Transformation, TPG Telecom
Minerva seamlessly and securely extracted TPG’s financial data from its ERP system, integrating it into a comprehensive model that centralised and standardised financial information. This enabled TPG to present its management reports in a structured and meaningful manner.
To accommodate the consolidation of financial data for the newly merged business, Minerva devised an innovative mapping process, directing it into a custom-built and self-maintained account structure.
Minerva introduced an integrated financial planning model that combined the security and workflow functionalities of the web with the flexibility and familiarity of Excel. The enterprise performance management (EPM) solution selected was the adaptable planning tool, Jedox.
Following the successful delivery of these models, the solution expanded to include reporting andplanning for customer population and FTE, along with the introduction of a KPI scorecard
The finance team now possesses full ownership and control over their accounts, enabling them to effortlessly reconcile reporting, independent of other teams. Manual processes have been replaced by automation, resulting in expedited delivery of monthly reports. This shift has empowered the finance team to prioritise quality analysis and reconciliation.
The implementation of a planning and reporting solution for various business models has provided finance with a comprehensive platform for enhanced planning, reporting, and decision-making. This end-to-end solution offers the team extended capabilities to formulate and explore scenarios, facilitating data-driven planning.
Through the centralisation of their data, the finance team has greater transparency into business performance, empowering them to make more informed budget decisions. The flexibility of Minerva’s solution has enabled seamless adaptation to TPG’s evolving requirements while preserving crucial financial historical records.
If you would like to learn more about how we’ve helped businesses advance their financial planning, reporting, and forecasting, get in contact with us at info@minerva.com.au
