Congost

Budgeting
Nov 2021

Congost is a Spanish company with more than 50 years of experience in the plastics sector. They currently have their headquarters in Santa Eulalia de Ronçana, where they have facilities of more than 11,000 m2 built and 44,000 m2 of land to speed up the supply of orders as much as possible. They provide specialty plastic products for a wide variety of industrial, institutional and retail clients. They offer high quality products with superior personal service and professional support to more than 30,000 clients, with a presence in the markets of Spain, France, Italy and Portugal.

Challenge

As the new budgeting cycle approached, Congost's finance professionals found that their planning and budgeting software was no longer up to par with their needs and no longer adding value to the process. They had to do something fast. Initially, they looked for an update from the same vendor that had offered them the software they were working with until now.

However, they quickly realized they needed an alternative when their vendor said the upgrade could take more than a year. The systems were also expensive and would require dedicated full-time staff to operate.

Solution

The team found that Cofi could replace the local system they were using without interrupting the work of the executives or the commercial department. With Cofi, the requirements of Congost have been addressed, in addition to adding new functions such as planning for multiple scenarios per company and for the entire consolidated group.

Cofi also provides users with several additional functionalities:

"The reporting capabilities that Cofi has allows users to see their results immediately without the help of an administrator," says Congost's CFO. “With Cofi templates, managers in each business unit get detailed analytical reports that they use to extract valuable information from their business. Being able to enter their strategic plan and see the results also gives them a greater perspective in understanding their division. "

And that was just the beginning. The search “started primarily for a planning tool and also turned into a consolidation and reporting project. We were intrigued by the potential of having the plan and actual data consolidated on one platform. "Having it on one platform has paid off. In the past, analytics was a bottleneck during the shutdown process. Analysts could lose up to one hours waiting for accountants to answer their questions about transactional data, now users drill down to the details they need in minutes.

Result

As a result, the finance team brings more value to the business. Daily sales reports, for example, are significantly easier. Most importantly, the Cofi platform helps executives achieve Congost's business objectives and facilitates the group's aggressive growth strategy.

Congost plans to implement new processes that were not available on its previous local system. Rolling forecasts, which offer visibility into the future, are one of the priorities. A faster update will allow business units to access the results, and the impact of those changes will be visible at the enterprise and corporate level immediately.