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How has PwC helped CIECH improve the reporting of management information?
In this video case study, the CEO, CFO and Management Information Officer talk about the digital transformation of reporting, which began three years ago and covers the entire organisation, including the production and monitoring of operational KPIs.
4:48
The CIECH Group, a Polish chemical producer, has transformed its management reporting, implementing a data-driven decision making model. The creation of a new business area under the CFO, responsible for implementation of the Data & Analytics strategy, was key. Since then this strategy has been implemented in other operational areas.
“The goal of the transformation process is to create an organisation where business decisions are based on effective data analysis, and management reporting focuses not so much on providing data, but on signalling opportunities and risks, and presenting dynamic scenarios supporting the decision-making process.”
“The goal of the transformation process is to create an organisation where business decisions are based on effective data analysis, and management reporting focuses not so much on providing data, but on signalling opportunities and risks, and presenting dynamic scenarios supporting the decision-making process.”
The Challenge
Scattered data, little information
The CIECH Group, a complex and multi-segment capital holding, had numerous non-integrated data sources spread across its many business units, and needed to standardise its reporting process.
Management reporting at CIECH was characterised by:
- manual acquisition of financial and non-financial data in a non-standardised form, different for each business unit,
- manual integration of data in Excel files and construction of complex consolidated reports,
- availability of reliable information only after month-end closing processes, around the 20th business day of the following month,
- no ability to carry out detailed analyses (a flat, static report in aggregated form).
The process of obtaining information was ineffective and dispersed, reducing trust in the reliability and timeliness of the data. In addition, integrating data from so many disparate sources required a significant amount of manual work.
The Solution
Data-driven decision making is true digital transformation of CIECH’s finance department
Together with PwC Data & Business Intelligence experts, CIECH started building a cloud-based analytical environment, the heart of which was a corporate data warehouse and a visual analytics solution based on the Microsoft Power BI platform.
We built TOP 5, a management cockpit for key business indicators, which delivered:
- a simplified management reporting process,
- a reduction in manual activities in the reporting process thanks to central guidelines and automation,
- a significant reduction in reporting time.
The implementation of the first part of the project, carried out according to agile methodology, drove buy-in across the organisation and opened up the prospect of further changes in the area of processes and tools. The dynamics of transformation and subsequent successes resulted in increased interest and involvement of owners of other business areas.
Result
Today, Business Intelligence solutions are used in the CIECH Group not only for management reporting, but also for production and maintenance management, energy efficiency monitoring or KPIs in the field of occupational health and safety
The initiated transformation process based on the Azure analytical tools and the Microsoft Power Platform enabled the development of management reporting that meets the business needs to the point. The transformation of reporting covered all key business areas. The introduced changes translated into a mature culture of working with data and are generating a further stream of ideas successively implemented in the organization.
It became possible to switch to monitoring key parameters on an ongoing basis and reporting them in any time cycles (daily / weekly / monthly).
The initiated change allowed the area of finance to effectively communicate the results to both the business and key decision makers. The analytics (at the level of a single business operation) and interactive presentation of information, achieved thanks to modern tools, gave the long-awaited increase in trust in data.
“Agile management of the entire organization based on data is the new standard. In times of high volatility of factors affecting the functioning of the business - the availability of data for the proverbial one click, the ability to drill results, or daily reporting are essential support for managers today. Their use can determine the "to be or not to be" of an organization”
“Agile management of the entire organization based on data is the new standard. In times of high volatility of factors affecting the functioning of the business - the availability of data for the proverbial one click, the ability to drill results, or daily reporting are essential support for managers today. Their use can determine the "to be or not to be" of an organization”
Mariusz Dziurdzia
Managing Partner, PwC Poland
Marcin Makusak
Partner, PwC Poland
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Partner zarządzający, Lider Clients & Markets, PwC Polska
Tel.: +48 502 184 117
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