Bringing financial clarity and uniformity to one of Egypt’s largest real estate and hospitality development companies
Key Outcomes
Unified CoA and Reporting
Automated integration of processes across ALDAU’s group companies
Common, enterprise-wide reporting structures
The Client
ALDAU Development, a subsidiary of Sami Saad Holding, is one of the region’s biggest private holding companies. ALDAU Development has interests in several economy-critical areas, including construction, automotive, FMCG, real estate, and hospitality.
The Challenge
- A spate of acquisitions, entry into new business lines, and geographies, with different languages, and many reorganizations had created divergent reporting environments, which was aggravated by a lack of common enterprise definitions in the Chart of Accounts (CoA).
- The company’s legacy manual consolidation, data collection and reporting, were further obstacles.
- There was an urgent need to consolidate systems and processes to streamline financial close processes and bring visibility into multiple areas, including currency translation.
The Solution
- Constellation quickly identified EPM Cloud Financial Consolidation and Close as the best all-around solution.
- The company’s various disjointed G/L systems, which were used by various business units, were integrated into the system, currency translation was automated, and a standard month-end close and adjustment process was deployed.
Outcomes
- Automation of financial close and consolidation process
- Unified COA and reporting packages
- Automated integration processes across all ALDAU group entities
- Major improvement in process efficiency and decision-making.
- Implemented additional controls at the employee level and maintained the same with the effective date.
- Common reporting structures and enterprise-wide data elements
- Ability to integrate newly acquired businesses quickly
The fully automated financial close and consolidation process brought increased visibility into business operations, allowed clearer insights, and better decision-making. It also enabled quick integration of new acquisitions into the business.