Orascom rolls out Infor financial solutions
Infor applications to improve reporting and forecasting for Egyptian conglomerate
Egypt's Orascom group has rolled out two applications from Infor to improve financial planning and reporting.
The group has deployed Infor Performance Management (PM) solution at its Cario headquarters, along with Infor FMS SunSystems financial management application.
The PM solutions will automate and centralise financial data from Orascom's 115 subsidiaries worldwide. The solution includes project management tools, budgeting, forecasting, and reporting features, to enable the company to better plan and report on activity across the group.
The Infor FMS SunSystems application provides financials management that meets global standards, as well as analytics.
Mahmoud Zuaiter, SVP and chief financial officer, Orascom commented: "The centralized data system provided by Infor is a welcome relief to Orascom as we can now consolidate the financials as well as non financial data of all our subsidiaries and use readily available tools for analytics and reporting. With Infor PM we expect to reduce our time taken for budgeting and reporting by more than half. Furthermore, system adoption by existing and new staff will be rapid, as the system is very easy to use."
Infor's local partner ACT provided support, project management and consultancy services to Orascom for the deployment, and also helped with tailoring the solutions to meet the various vertical sectors within the Orascom group.
"We have already worked extensively with Orascom over the last six years to successfully deploy SunSystems across their Middle East operations. Now strong financial performance management is the next step towards excellence", said Maged Taha, senior applications marketing manager, ACT. "While using external auditing agencies has proved long and tedious to date, we expect Orascom to see an immediate ROI due to the automated data capture and the minimal staff required to use the system."
"With cautious optimism growing in the Middle East market, financial information is of utmost importance now more than ever. We are thrilled to have deployed Infor's Performance Management solution across the construction, real estate and hospitality industry of Orascom Holding. Infor's Performance Management solution will provide timely and accurate financial information, with thorough analytics in real time as well as during statutory and regulatory reporting periods," Paul Hammond, Middle East general manager, Infor.