Nordgold (IBM Planning Analytics)

2020: Automation of financial planning, analysis and budgeting

Nordgold automated financial planning and budgeting with CN Planning Analytics the help of for Mining Industry - a solution for, mining companies developed on the basis of. IBM Planning Analytics The implementation partner was a ITconsulting company. Columbus

Nordgold set the following goals for the project:

• Accelerate financial planning and analysis
• Create a unified information environment for financial and operational indicators in order to conduct a deep analysis of primary data sources and causes of deviations from targets,
• To create a unified management reporting system in accordance with the standards adopted in the group of companies.

CN Planning Analytics has been created, taking into account the industry characteristics of extractive enterprises: budget model, cost model, industry KPI, benchmarking with the best practices in the industry, as well as a dedicated management reporting unit.

Result:

• The implemented CN Planning Analytics for Mining Industry solution allows you to carry out financial planning, quickly adjust it when conditions change, analyze financial results, and build medium- and long-term forecasts.
• Nordgold has created a single information space for the company's operational and financial data, which allows you to analyze the causes of deviations from targets in a matter of seconds.
• The solution automatically generates management reports after the period is closed.
• Nordgold has a convenient lifecycle management tool for capital investment projects.