Talentia Software, a leading developer of solutions for managing business performance in economic and financial, in collaboration with Formula Group, leader in Italy in providing solutions for the CFO, present the results of the project Talentia Financial Performance in Electra Investments.
Talentia Financial Performance is the solution optimizes and integrates financial planning, budgeting and reporting, to achieve the consolidated financial statements of the holding company according to IAS / IFRS.
Elettra Investimenti is an industrial holding company operating nationwide in the sector of electricity and thermal energy production and energy efficiency. The group, through a series of operating companies, designs, builds and manages energy efficiency and IoT systems and services, with the aim of ensuring a valid energy resource management system in the various processes. The strong point is the plurality of services offered to a potentially unlimited plurality of customers, thanks to a presence across the entire energy supply chain. Listed on the AIM market since April 2015, Elettra Investimenti has started an important growth process that leads the entire group to be a reference operator in the new world of energy. In the same year, Elettra, also in consideration of the important economic results achieved, decided to adapt the consolidated financial statements and the financial statements of the holding company to the international accounting standards IAS/IFRS, in order to conform to the prevailing standards of the sector and for better communication towards third parties. Furthermore, in recent months, the economic-patrimonial planning process has also been revised.
“We had the need to create a balance sheet that could expose the equity, financial situation and economic result of the group, in compliance with international accounting principles, underlines Maurizio Alessandrini, Financial Director of Elettra Investimenti, while allowing individual companies to be able to draw up the annual budget according to OIC principles. In this process, the double track is essential to be able to have the OIC and IAS explanatory notes, also providing for the possibility of simulations and assessments of the impact of the transition entries on the financial statements of individual companies. The Talentia Financial Performance solution facilitated us in the entire process, making all the steps simple and quick. It has proven to be the ideal tool for our group which uses multi-dimensional management models, also in consideration of our partners located in various parts of the world".
The assessments made by Elettra Investimenti in close collaboration with Gruppo Formula, current supplier of various solutions in the administration and finance area (ERP, treasury and consolidated) led the group to approach Talentia FP already at the beginning of 2016 for the development of the project according to the national accounting principles issued by the OIC to achieve the creation of the consolidated financial statements with the double track in 2017, respecting the OIC/IAS principles. The latest project launched by the company concerns issues related to Financial Performance and involved the planning process with the preparation of a five-year and annual group economic-financial plan.
"Based on years of proven Formula Group on consolidated budget projects and potential of Talentia software solution, we delivered on time and with high performance, the system migration from OIC structure to the new structure IAS - concludes Alessandrini.
“During the project, continuous assistance was provided to Elettra Investimenti, from us and from Gruppo Formula, in order to minimize implementation times and make the customer autonomous in managing the budget drawn up with the double criterion and the multi-year budget ” underlines Marco Bossi, Managing Director of Talentia Software. “The punctuality and satisfaction achieved by Elettra Investimenti is a source of great pride for us and gives us confidence and motivation to propose new projects for the management of planning processes and management of asset and financial data”.
Talentia Finantial Perfomance is a modular software suite and consists of Budgeting & Planning and Talentia Consolidation & Reporting, which can also be purchased separately. In on-premise and cloud, offering all essential services to process data, conduct analysis and present reports to provide a complete view of the business situation in real time, ensuring alignment between operations and corporate strategy.
