IBM_Mace_130627.pdf - IBM Software Business Analytics...

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Business Analytics IBM Software Construction / Architecture / Engineering Mace gains insight into the performance of international projects Enabling faster, more detailed project-based budgeting and reporting with help from IBM and Barrachd Overview The need To manage the financial aspects of major international construction projects effectively, Mace needs a tight grip on its finances – but local variations in reporting processes made it difficult to maintain visibility and control. The solution Barrachd helped Mace roll out IBM® Cognos® Express to its international business units, replacing cumbersome spreadsheet-based processes with an automated, detailed and standardised reporting process. The benefit Improves visibility of costs and profitability at project level, enabling greater agility. Increases timeliness of reporting and provides a single source of truth. Reduces time spent on reporting by 50 percent. Headquartered in the UK, Mace is an international consultancy and construction company that offers highly integrated services across the full property and infrastructure lifecycle. It employs 3,700 people in more than 60 countries worldwide, and is involved in some of the world’s highest-profile projects, such as the construction of London’s “Shard”, the tallest building in Western Europe. Many of Mace’s international projects are contracted on a fixed-price basis, and their success depends on the company’s ability to control costs and maintain profitability. Until recently, the only way for senior managers to gain a full understanding of international operations was a monthly report, based on a complex spreadsheet which drew data from numerous different accounting systems in subsidiaries around the world. Brendan Kitley, Finance Systems Manager at Mace, comments: “The spreadsheet on which we based our international reports had about 40 tabs and hundreds of cross-links, which meant it was very easy to introduce errors, and the lack of a standardised approach was affecting accuracy and consistency. We wanted to find a more robust process for financial reporting.” Finding the right partner Mace was already using IBM Cognos TM1® software for its domestic business in the UK, and was keen to find a similar solution for the international business.
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