$500,000 in savings from a high-quality integration with ERP software and quick implementation

Synlait’s team faced a range of data management challenges that required better analysis and use of company data. Existing processes were time-consuming, focused on processing rather than data analysis, and led to inefficiencies such as the use of manual data processes to correct errors. This meant the team could not be as agile as they wanted, nor serve as true business partners for the C-Suite and investors.

A broader digital transformation project was underway within Synlait which included the implementation of a new Enterprise Resource Planning (ERP) system. This provided the Synlait team with the opportunity to strengthen their offering – especially around budgeting and forecasting. The decision was made to adopt planning and performance software Jedox.

The Synlait team chose the Jedox platform to solve their near-term challenges with data management, planning and forecasting.

The Jedox platform was chosen because:

• Jedox Add-in for Excel 365 meant the team could leverage their existing expertise in Excel while budgeting and forecasting using a unified data model.
• Integrations with the new ERP and other business systems eliminated the need for a separate data warehouse project, and provided flexible options as business requirements inevitably change.
• Improved time-to-value using Jedox, when compared to other options
• During the evaluation process, the Jedox team demonstrated a deep understanding of the Synlait business and provided recommendations and best practices to configure Jedox to meet and exceed expectations. They became trusted business partners.

Jedox is now a key component of Synlait’s financial forecasting, month-end reporting, and scenario planning. The efficiencies achieved allowed the organization to focus more data analysis, than data processing – and produce better business outcomes.

Through the quick and successful implementation, combined with high adoption rates throughout the business, it is estimated they saved more than $500,000. This is based on the team’s ability to quickly access reliable, up-to-date financials.

Teams can access actual data from the ERP in real time, process Supply and Demand plans quickly, and have control over ad hoc reporting through no-code, drag-and-drop report building capabilities. For example, users have been able to produce reports on sales and production plans in a variety of forms and views serving multiple customers all from a single source of truth.

“ Jedox is easy to understand and makes it easy for management to ‘self serve’ and drill down on forecast movements to provide quick insights. This has allowed me to identify areas for further analysis quickly and gives me confidence in our forecasts. I like being able to perform my own analysis on the data and, when I had need of a regular report in Jedox this was turned around for me in a day.”

Synlait Finance Manager

Jedox has also helped to streamline financial forecasting, month-end reporting, and scenario planning processes, and Synlait is considering further integration within the business planning process.

The Jedox solution in combination with the new ERP lays the foundation for future integrated business planning. Finance can engage stakeholders across the business from demand, sales, production, and workforce to contribute collaborative and continuous planning, budgeting, forecasting, and analysis efforts.