Farseer Logo

 CASE STUDY 

AKD

Man Giving Croatian Identity Cards

  About the Client

AKD is a government owned manufacturing company for production of high-security printed products (ID cards, passports, etc.).

  Problem

Budgeting and planning in AKD were done exclusively in spreadsheets. As a result process management, security and reporting took a lot of time and effort for the controlling department.


Budgeting was done in phases by company departments. This meant that the controlling department had to organize and manage the entire process via email and consolidate dozens of spreadsheets into the company budget. The process was time-consuming and error-prone!


Any changes in the company organization produced additional workload and manual adjustments of the budgeting and reporting process.


Being a government-owned enterprise, AKD has strict reporting obligations to various government institutions and management. Producing several reports in different formats using spreadsheets was a highly manual and insecure process.

  Solution

Implementation of Farseer meant the digital transformation of budgeting and reporting at AKD. Data input is centralized and the process is secure and accurate.


Budget owners have a clear understanding of their responsibilities and deadlines. In-app communication and tasks eliminated the need for email communication and simplified process management.


Changes in the organization or reporting structure can be centrally implemented and usually take just a few clicks! Budgets are automatically rolled up, leaving the controlling department more time to focus on strategic tasks.


P&L, Balance sheet, and Cashflow reports for institutions and AKD management are now automatically calculated from the model in Farseer. Farseer implementation saved approximately 30 days per year for the controlling department and created a positive planning culture throughout the company.

AKD Results: 30 Days Per Year Saved For The Controlling Department, Automatically Rolled Up Budgets, Automatically Calculated Live Financial Statements

Results

Don't want to rely on spreadsheets alone?

Book a demo today, and we will show you how Farseer can level up your finance game.

Farseer Rocket Smashing Through a Spreadsheet Full of Errors

‏‏‎ ‎- THE RESULT‏‏‎ ‎

Farseer has digitally transformed budgeting and reporting processes in AKD and helped them focus on strategy.