JEDOX SUCCESS STORY · MANUFACTURING
Shift to five-quarter rolling forecast in under 3 months
Sandvik Mining and Construction Oy, the Finnish affiliate of the Sandvik Group, needed to deliver a detailed five-quarter rolling forecast that its Excel templates simply could not support. With Jedox, it launched the new forecast in about three months and gave cost centre owners direct insight into their own numbers.
< 3 months
to launch a five-quarter rolling forecast
450
cost centres moved off Excel
~200
allocation rules managed in Jedox
About Sandvik
Sandvik Mining and Construction Oy is the Finnish affiliate of the Sandvik Group, supplying mining and construction equipment, tools and services. It employs about 2,000 people and generates €1.6 billion in annual revenue. The business has four reporting entities across three locations and manages 450 cost centres and around 200 allocation rules.
Challenge
Excel templates could not cope
Sandvik’s Finnish operation employs about 2,000 people and generates €1.6 billion in annual revenue. It manages 450 cost centres and around 200 allocation rules, all of which were previously handled in Excel.
Each site used different processes, reporting timetables and instructions. Data was siloed, and allocations and version control were difficult. When Sandvik Group reporting began requiring a detailed five-quarter rolling forecast, it was clear the existing templates would not cope.
The new software needed an adaptable organisational structure, forecasting by individual project, management of complex allocations, and integration with existing tools such as Power BI.
Solution
A phased, integrated rollout
Sandvik chose Jedox, implemented by partner Fellowmind Finland Oy. Phase 1, launched in about three months, covered the P&L, fixed costs for cost centre owners and sales-related costs. Phase 2 added balance sheets and investments.
A data warehouse integration brings in accounting, investment and R&D project data, while the Jedox-Power BI integration supports reporting. Web-based, permission-controlled input templates handle data collection.
“We now have a better view of the whole financial planning process with Jedox.”
Sarah Sjöstrand
Manager in Site Business Control
Sandvik Mining and Construction Oy
Outcome
Rolling forecast live in three months
Sandvik now combines top-down visibility with bottom-up efficiency in financial planning. Finance staff spend less time preparing data and more time analysing it, and little preparation is needed before each new forecasting round.
Cost centre owners have gained insight into their own numbers and become more engaged in the process. Planned next steps include templated reports, AI and further automation.
We don’t need to do much before we start a new round of forecasting.
Sarah Sjöstrand, Manager in Site Business Control, Sandvik Mining and Construction Oy
Jedox in use at Sandvik
- Financial planning and analysis
- Rolling forecast
- P&L and balance sheet planning
- Excel Experience
- Data integration
- Power BI integration
Read more Jedox success stories, see how Jedox supports manufacturing finance teams, or find out about Jedox implementation in the UK & Ireland.
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