Skip navigation
Skip navigation
You are using an outdated browser. Please upgrade your browser.

*** 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

activity.


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Group plc chose Frango Controller to replace its outdated Excel-based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

Accounting Standards."



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

consolidation process.



"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.


About Frango

=============

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

Performance Management.


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


PR Contact:

Hazel Butters, Prompt PR

Tel: 0208 296 1887

hbutters@prompt-pr.com




This press release was distributed by ResponseSource Press Release Wire on behalf of Prompt Communications Ltd in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.