*** Frango Controller will improve Group-wide financial consolidation,
reporting and budgeting ***
Europe's largest electrical retailer, the Dixons Group, has selected and
implemented corporate performance management (CPM) software from European
software provider Frango in order to improve Group-wide financial
reporting, planning and analysis.
The Dixons Group, which includes major retail brands like Currys, PC
World, and The Link as well as Dixons in the UK, wanted a new corporate
performance management system to drive faster, more frequent and more
flexible financial reporting and planning. As the Group has expanded the
production of monthly management accounts, quarterly forecasts, annual
budgets and statutory statements had become a difficult and time-consuming
Following an evaluation of market-leading CPM software vendors, Dixons
Group plc chose Frango Controller to replace its outdated Excel-based
systems. "With Frango, we will be able to produce consolidated reports
and budgets much more quickly, and with much less manual effort," said
Simon Davies, Group Planning and Analysis Director, Dixons Group. "The
Frango package also gives us the flexibility to change the style of
reporting as necessary, for example to provide a different management view
or to comply with the evolving requirements of the International
Frango Controller is a comprehensive software package especially designed
for Group financial reporting, analysis, what-if modelling and budgeting.
Simple to install, the software eliminates the need for costly IT
consultancy, and has a familiar and easy-to-use Excel-based interface. The
package includes 50 types of standard report, covering all common internal
and external reporting requirements, including IAS adjustments and
inter-company matching. Frango Controller gathers and consolidates data
automatically from pre-determined sources such as the General Ledgers of
divisions and subsidiaries, removing the risk of manual error during the
"Group finance departments are under real pressure to report and
reforecast more frequently, in greater depth and with greater accuracy,"
said Ian Inglis, managing director, Frango UK. "As the pressure from
regulators and markets continues to increase, we will see more groups of
companies turning to corporate performance management software like
Frango's, to stay ahead of the escalating demand."
Frango Controller is being implemented in several phases at Dixons Group
plc. Phase one went live on schedule in the first week of January,
providing functionality for period end reporting and high-level management
and budget consolidation.
Founded in 1987, Frango is a leading European software company that
enables finance and business managers to plan, report, consolidate and
analyse business information - a process is generally known as Corporate
More than 1,300 corporate customers and organisations worldwide rely on
Frango to understand their corporate performance and to gain access to
timely and relevant information for improved decision-making. In Europe
this includes almost a fifth of large corporates1, such as Aegon, IKEA,
Alliance UniChem, Scottish Power and Credit Suisse.
The company's headquarters are in Sweden with offices and distributors
throughout Europe, Asia Pacific and the United States. It is listed on the
Stockholm Stock Exchange (Stockholmsbörsen) under the symbol FRANG B.
More details are available at www.frango.com
Hazel Butters, Prompt PR
Tel: 0208 296 1887
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