Talentia Software, a leading company in the development of solutions for the management of human and financial resources for medium and large-sized companies, was chosen by Energy Management Services S.r.l. (EMS), a company that operates in the field of renewable energy, for the development of the Consolidated Financial Statements and for the production of the additional notes. The solution implemented is Talentia CPM (Corporate Performance Management) which optimizes and integrates the financial planning, budgeting and reporting processes, to create the company's consolidated financial statements according to the international accounting standards IAS/IFRS.
EMS works in the renewable energy sector, in which it operates as a producer and developer through photovoltaic, hydroelectric, wind and biomass plants located in Italy. In 2018, the Group modulated its offering, making wind assets the core business of the activity. EMS integrates 30 companies and multiple areas of consolidation for which financial statements, statutory and consolidated supplementary notes must be drawn up, all to be completed in a short time. Given the presence of an investment fund, the Group has in fact expressed the need to review the internal process of building tables and comments, since this was managed manually and through the supervision of different entities, imposing long implementation times and risks of errors due to human intervention. Hence the need to use the Talentia software arose, initially used for the development of the Consolidated Financial Statements and immediately afterwards for the integration that the system offers for the production of the supplementary notes. In this way 3New was able to compile the relevant tables and integrate them into Word notes to create the financial statement dossier.
“We chose to rely on Talentia for the development of the Consolidated Financial Statements – he explains Riccardo Ventura, Group Financial Controller of EMS. – Starting from the development of this project we then took advantage of the integration that the software offers for the production of additional notes. In fact, the software allows you to compile tables which were then integrated into the additional notes in Word, which in turn ultimately allowed the creation of the financial statement file. Talentia fully responded to our needs to obtain a result in a very short time, guaranteeing us the security of a process developed in a completely automated and precise manner."
The proposal developed by Talentia a EMS presents a data loading and balancing part with a single package with controls and tolerance thresholds. The starter kit has all the tables necessary for the construction of the supplementary note tables and custom tables can be built according to needs. The tables were linked directly to the Word file, so that a template was created for each company in the Group, from which the user can independently decide which table to show and at what level of detail. The data that is exposed is extracted in real time from the database, to guarantee the direct updating of all changes. The documents have a standardizable layout and once the financial statements have been filed, the entire document is historicized.
"When EMS he explained his needs to us, we immediately accepted their request with enthusiasm – he says Marco Bossi, Managing Director of Talentia Software. – Our team is particularly proud of the success of the project and the satisfaction of EMS, an achievement that stimulates us to always work with maximum commitment to help customers improve the efficiency of their processes.”
Talentia CPM 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 mode, it offers all the useful services to process data, conduct analyzes and present reports to provide a complete view of the company situation in real time, ensuring alignment between operations and business strategy.
