AVENG

Infinitus Reporting Solutions facilitate the Budgeting, Forecasting and Monthly Reporting Solution for AVENG Group

About Aveng Group

Aveng Limited, through its subsidiaries, engages in construction, engineering, mining, manufacturing, and steel processing activities. In addition, the company provides various services, including earthworks, civil engineering, and MEIP construction capability for industrial capital projects and infrastructure development.

It also engages in the developing properties and commercial buildings; developing mine for underground mining and underground contract mining; and financing, building, operating, and transferring projects in the infrastructure market. In addition, Aveng provides other services, such as civil and marine, mechanical, electrical, pipeline, and tunnelling and underground services for various industries, including civil infrastructure, industrial plants, mining and metals, oil and gas, petrochemical and chemical, power, transportation, and water.

Further, it offers various services that include conceptual engineering, feasibility studies, technology sourcing and application, multi-discipline engineering and design, project and construction management, and quality assurance and control.

The requirement

Aveng required a software solution to assist with interim and year-end Statutory Consolidations and monthly reporting. The group had previously managed the group reporting and consolidation process using a hybrid of Excel spreadsheets and information from various source systems. The process was time consuming, cumbersome and required lots of manual interventions with little overall control.

The solution

Following the successful implementation of Finnivo at one of the Aveng subsidiary companies Aveng (Africa), Aveng Limited appointed Infinitus Reporting Solutions, to deploy the statutory consolidation and reporting solution in preparation for year-end.

Phase 1 included the deployment of the Statutory reporting pack in time to go-live for the Year- end. The implementation included the loading of prior year data for the group, roll forward of prior year balances and restatement for IFRS reporting requirements. Phase 2, the monthly reporting, budgeting and forecasting application followed shortly thereafter and includes, in addition to obvious, a Du Pont analysis, dashboard of key KPI’s, and other additional stakeholder information.

The result

Aveng now have an integrated end-to-end budgeting, forecasting and consolidation solution, which enables key financial staff to focus their attention on value added analysis and reporting activities.

The group has a telescopic sight of the results and future outlook of its diverse group of construction, infrastructure and engineering entities at the click of a button. The process of consolidating budgets, forecasts and monthly results takes seconds as opposed to hours and days, with greater accuracy and control around the process.

“We wish to place on record our appreciation to the Infinitus Reporting Solutions Team for their dedicated, professional service and support during and post the implementation and rollout phases of the Statutory and monthly reporting solutions. The implementation was completed with minimal interruption of our day-to-day activities and generally met with our specific requirements within very tight deadlines.”
Craig Bishop (Group Financial Manager)

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