KPMG Crimsonwing (Malta) has recently completed the implementation of JetReports for Microsoft’s Dynamics NAV financial accounting system at the leader in telecommunications and home entertainment in Malta. The Group already uses Microsoft Dynamics NAV for its accounts. Due to ever increasing management reporting demands, which are typically very labour intensive, the company’s management decided to invest in a more automated reporting application to simplify the financial reporting process.
The solution chosen was JetReports, an application that connects natively with Dynamics NAV. JetReports updates its reports automatically once new data has been posted into the accounting system. Moreover, it presents its results in the form of Microsoft Office Excel spreadsheets, which most office staff today are familiar with.
The package gives users a more flexible platform from which to generate a dashboard, reports and presentations. “We are pleased that our expertise with the various Microsoft products has enabled us to provide a viable solution for the Group. It was a straight-forward task to add JetReports on top of Dynamics NAV and create the required package for management reports. This shows how flexible the two products are”, commented Mr David Caruana, Project Manager at KPMG Crimsonwing. The benefits accruing from JetReports are not nearly limited to the points mentioned above. KPMG Crimsonwing prepared a customised management pack for the various companies within the Group. It is now possible to switch from viewing the results of one subsidiary to those of another, almost at the touch of a button. It takes minutes instead of hours to generate complex reports. Apart from enormous time savings, this means that the management can run the reports more frequently and keep closer to the pulse of the business.
Mr Randolph Said, Group Financial Controller at the telecommunications provider commented: “The introduction of JetReports has had a significant impact on the way management accounts are now used. The time taken to generate them has dropped significantly. They are run more frequently, so management is always kept up to date. Viewing the financial situation across all the companies within the group is now a much simpler task.”
Increased automation means that there is less risk of human error, particularly when passing adjustments. Since the reports, even consolidations for the whole group, are updated so quickly, entries can be reviewed to see their impact on the results straightaway. An added benefit is that this reporting tool gives the Group one consistent view of the whole enterprise, since the basis of management accounts is now the data in Dynamics NAV without manual adjustments.
As the example of the client shows, JetReports combines features which make it particularly useful to a group of companies. Particularly the benefit of the reports being generated in Microsoft Office Excel format, which is used in most offices, makes it easy for the staff to read, manipulate and change existing reports, as well as create new ones. When requirements change, it is a simple matter to amend or add a report. Reports can also be distributed automatically to the people who need access to them both internally and externally, for example to the management as well as third parties, such as auditors and the like. The access format can be varied so that recipients can either manipulate the results or only be able to read them, depending on why the user needs it.
About KPMG Crimsonwing
KPMG Crimsonwing is an international business & IT solutions provider that supports organisations in business transformations enabled by technology. Our work focuses on Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), eCommerce and IT integration. Using our business and IT expertise we can help automate and transform organisations with the established business technology solutions of Microsoft, Intershop and Magento and a wide range of professional services.
KPMG Crimsonwing consists of more than 350 skilled employees, offers 24/7 support services and has a near-shore centre in Malta. Together with KPMG’s global network of member firms clients can benefit from a broad professional palette of business services, enabled by technology.
About the client
The client is a diversified telecommunications provider offering home entertainment and telecommunications services to consumer and business customers throughout Malta. The Group of companies offers IP based digital cable TV, broadband Internet, fixed-line telephony, and mobile voice and data services. It also owns and operates an undersea submarine optical fibre cable.