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Find out how Fiagril reduced the time spent on the Economic Group closings from 3 to just 1 day

Ronnie Motta, the company’s Head of Finance, tells how Accountfy brought more time for strategic analysis and reliability in numbers

About Fiagril

With over 30 years in the market, Fiagril has several units in the states of Mato Grosso, Amapá and Tocantins. In addition, it is a reference in the agribusiness sector, especially in the supply of fertilizers, pesticides, seeds, micro nutrients and services for the agricultural sector, as well as in the origination of grains, production and trade in the manufacture of Biodiesel. In 2016, Fiagril agreed its participation in the Chinese company Hunan Dakang International Food & Agriculture Co Ltd., controlled by PengxinGroup, listed on the Shenzhen stock exchange.

 

Challenges for time optimization and focus on analysis and strategic decisions

With the company in full expansion, Fiagril’s financial department needed to:

  • centralize financial information and automate processes and;
  • adjust reports and analysis based on business units and cost centers.

In continuous growth, Fiagril presented a financial management still based on infinite reports and spreadsheets. In other words, its ability to generate strategic information for decision making was impaired.

As soon as Ronnie Motta, who was already familiar with Accountfy, assumed the position of responsible for Finance department at Fiagril, he identified the immediate need to centralize the information available, in addition to automate the process of generating financial statements. In his words, “we decreased data and increased information”.

The challenge was to optimize manual activities and generate productivity, obtaining in an agile way not only the visibility of the group’s macro finances, but also the distribution in the different business units, cost centers and management of key indicators, also helping to report to investors.

 

Time optimization, starting from the structuring of information to carrying out analysis

With Friagil’s growth, the opening of new units, increase in the scope of products offered and entry of new investors and creditors, including international ones, optimization of time in the generation of financial analysis for rapid strategic decision making has become even more relevant.

“The biggest impact was on the process of preparing the material for analysis of the closure, which used to consume around 3 (three) days. Today, with Accountfy, it's finished in one (1) day.”
Ronnie Motta – Head of Finance at Fiagril

In this way, the time that was previously used in manual activities started being invested in strategic analysis and in the creation of a dashboard with metrics relevant to the business, allowing for more updated, centralized and more clearly exposed information for the entire company.

With the platform, executives from other departments, who have a direct or strategic connection with the finance area, have direct access to Fiagril’s numbers, enabling an integrated view of the business and faster and data-based decision making.

 

A dashboard that allows customization according to the needs and complexities of the economic group

Centralizing and automating the generation of financial statements was just the first step towards optimizing the operation of the finance department. With a complex structure, besides strategies and budgets based on different business units, the group needed a platform on which to structure and model its reports according to such specificities.

Comparisons between what was actually spent and what was budgeted were facilitated, making it possible to create multiple scenarios and generate charts that logically and clearly demonstrate the performance of the group and the different business units.

“The tool has much more to give than what we are using. But in what we are, it is supporting us 100%, mainly in divesting time in building the numbers, while investing time in their analysis.”
Ronnie Motta – Head of Finance at Fiagril

He also says that the 2020 audit process will already be carried out directly by Accountfy, and estimates that this transition will contribute decrease the time taken to just 2 (two) weeks. His goal now is to explore the platform to derive even more benefits from it.

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