NTT Communications Selects PrecisionPoint Focus to transform Dynamics NAV reporting cross company financial insight
NTT Communications, the international and long distance arm of NTT and one of the largest telecommunications companies in the world, has selected the PrecisionPoint Focus BI solution to manage and accelerate the financial ‘close to report’ cycle and transform cross company financial insight.
The contract was awarded following extensive research to find a business intelligence tool that would work with the financial solution, Microsoft Navision, and meet NTT Europe’s needs for in depth financial reporting and analysis with an ability to report in multiple currencies. While NTT Europe uses an average exchange rate for management reports, performance targets are set in the local currency making it important to reflect exchange rate fluctuation.
The implementation of PrecisionPoint Focus will alleviate two distinct problems faced by NTT. Firstly, it had proved impossible to consolidate the databases into one tool to deliver reporting by business unit and secondly, while Dynamics NAV reporting supports multiple dimensions within the finance database, it can only report on two dimensions. Not able to undertake a rapid comparison of performance against budget, “It took four or five working days to do a financial close and the finance team then had to undertake a huge amount of manual work to get the results across to the business units,” explains Aad Schrader, Management Accountant, NTT Europe.
Designed specifically to deliver the right accounting intelligence to the Management team through a single reconciled view of the whole enterprise, PrecisionPoint Focus is expected to reduce the reporting overhead by 100 hours each month, far in excess of the 30 hours required to deliver a fast pay back. Available as an online managed service, customers benefit from rapid speed of deployment and are able to produce meaningful cross-functional reports and analysis across the entire organization in a matter of days.
With dual bases in the UK and the US, PrecisionPoint is used by successful companies worldwide including Americana International, Basic Chemical Solutions, Broadsoft, Chiltern Railways, Fitflop/BrandHandling, Koppers and NTT Europe. More timely accurate and transparent reporting create a foundation for evaluating performance, supporting business decisions and satisfying external reporting requirements,
PrecisionPoint Focus is expected to reduce the reporting overhead by 100 hours each monthAad Schrader, Management Accountant, NTT Europe