Dropping Anchor in CPM Success
SSA Marine, a wholly owned subsidiary of Carrix, Inc., operates more cargo terminals than any other company in the world.
THE FINANCIAL REPORTING PROCESS WAS ADRIFT
SSA Marine is comprised of 150 companies (approximately 50 joint ventures) in unaligned fiscal cycles, split along different business lines. The company had been performing all financial reporting and forward projections in more than 100 manual spreadsheets, making the consolidation process slow and prone to human error. Moreover, projection models were designed for one business segment and did not fit the needs of other segments. Consequently, management lacked a comprehensive view of enterprise-wide performance delivered as frequently and detailed as it needed.