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Access to the latest information is crucial when making business decisions, but with approximately 400 managers scattered across a global operation, distributing that data in a timely manner can be a problem. The Belgian-Dutch insurance and banking group Fortis always has consisted of various bodies, operating companies, and divisions and because of the organization's immense growth, the capacity of spreadsheets used as budgeting and target-setting tools were pushed to their limits.

Fortis managers found themselves engaged in constant conversations about exactly which figures were correct and looking back rather than forward with regard to the company's financial data, according to Alexander Carp, director of process management for Fortis.

Management agreed appropriate target-setting and budgeting processes had to be put in place before proper reporting was possible, he explains. A second requirement involved the gathering of specific kinds of management information in order to base actions on key performance indicators. To accomplish this, Fortis turned to a phased corporate performance-management implementation strategy, adds Carp.

Fortis had been a long-term customer of Allshare Enterprise, a systems consultant and the distributor in the Netherlands for Geac MPC performance-management software and related implementation services. Allshare previously had implemented Geac's decision-support software, which was used to calculate the results of various financial scenarios at Fortis. The financial services company was enthusiastic about the functionality, Carp claims. The short lead time and the confidence Fortis had in its staff were instrumental in the selection of Allshare and Geac, which already had proven its efficiency in this area, he attests. The implementation was completed within six months, according to plan. Within the short lead time, Allshare has delivered a solid, working Web application.

"The application allows quick communication, something that becomes obvious as early as in the target-setting stage," says Carp. "These activities are performed at senior-management level on a top-down basis. It is the senior management who actually provide the working framework for subordinate managers."

The Fortis budgeting process takes place on a bottom-up basis, Carp explains, which comprises a global process involving approximately 400 managers and controllers in total. "Users can track the progress of the budgeting process with the help of a workflow overview," he says. "Users only get to see the screens for which they are authorized." When creating budgets, users either are informed as to whether their budget has been approved or they will receive a message referring to more feedback, he notes. Upon approval, budgets are pushed up the managerial chain.

These changes are consistent with Fortis' objective to move from being a conglomerate of operating companies to being a single, unified organization, says Carp, adding Fortis plans to extend the Geac MPC system even further. "Eventually, the system is expected to be used by a thousand users worldwide," Carp indicates. "Expansion also will take place at a functional level. This does not just involve more KPI reports but an additional forecasting functionality, as well." As the implementation partner, Allshare also will be working with Fortis to make multidimensional financial information available. This will allow Fortis' analysts to call up all the information they require quickly and efficiently. "In total, our new way of working saves Fortis 30,000 man-hours. This wasn't our first objective, but it's a big additional advantage," he asserts.

Geac MPC is an integrated performance management software suite. It lets large enterprises easily put powerful performance management capabilities–including strategy, planning, budgeting, forecasting, consolidation, and reporting–in the hands of finance and business professionals across an organization while preserving centralized control of critical information. At Fortis, Geac MPC runs on a Microsoft SQL server database. Carp claims there were no integration problems with other systems at Fortis.

Using a single system, key managers at Fortis now can use the same terms and variables when drafting their budgets and targets. "The implementation of Geac MPC provides Fortis with a more uniform global approach enabling major improvements in terms of quality, speed, and transparency," concludes Carp. "In other words, Fortis now has a single source, a single truth, and a single presentation to the outside world–and a single Fortis in the bargain."