Olam International Case Study: Streamlining Budgeting, Financial Consolidation, and IFRS Compliance

Singapore-listed Olam has a presence in 60 countries, with direct sourcing and processing operations in most of the countries that produce its products.

 
Group revenue grew from US$2.4 billion in 2005 to $8.6 billion in 2009. But with exponential growth come complexities and challenges.
 
One of the challenges Olam faced with its rapid growth was how to efficiently and securely consolidate all its financial and management information that must also comply with multiple statutory reporting requirements.
 
One of the benefits of using a planning and consolidation application include the capability to handle the company’s multicurrency requirements and support for compliance with multiple accounting standards, such as IFRS.
 

 
 

 

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