Lanitis group was founded at the end of the 19th century, therefore it is a well establish organization.
Lanitis is one of the largest and most important business organization in Cyprus and it is active in a diversified set of business fields such us construction, property development, tourism and travel, hotels, transport, leisure and entertainment, restaurants, golf, marina, energy, trading and agriculture.
Before the implementation of our system Lanitis faced a lot of challenges.
One of them it was that they had limited visibility to their reports because it was difficult to access their data and analyze them.
Therefore, one of the main client’s requirement that we successfully address was the full and daily visibility to their reports
In addition, one of the most important challenges was the consolidated financial statements were prepared manually and this it was time consuming.
Therefore, the client’s requirements to us it was the automatic preparation of the consolidated reports and the full and daily visibility to their reports by creating a global Chart of accounts.
The data were from different sources with different format.
Therefore, using SSIS we load and integrated the data from the different sources used by the client (Navision, nodal etc), then we transformed them to uniform data and finally loaded the data into a single Data Warehouse (SQL Server Database Engine).
Then we created a multidimensional cube (SSAS). An Analysis Services multidimensional solution uses cube structures for analysing business data across multiple dimensions and calculations
For example, one of the dimensions is the ‘Accounts dimension’ which included the ‘consolidation accounts hierarchy’.
‘Consolidation accounts hierarchy’ is the hierarchy of the accounts as presented in the statement of financial position and in income statement. This dimension is the most important dimension as the client can has the consolidated accounts without any manual work in the appropriate format.
In addition, there are finance and budget measures/calculations such us the movement, PY movement, Budget movement, budget VS actual (variance analysis) etc.
The tools that we used in this case to make this analysis easy is the Pivot tables in excel.
Therefore, regarding the reporting the client by using the Global chart of accounts has access to a broader and more quality information for the whole organisation. In addition, the client can access all the information of the group at any time and any place.
The preparation of the consolidation accounts is one of the most demanding and time-consuming areas of every organisation, therefore the automatic preparation of the consolidated accounts it is the beginning of the solution to a lot of operational and business problems.