Case Study: Olam International achieves streamlined budgeting, instant financial consolidation, and IFRS compliance with Syniti

Olam International - Customer Case Study

Olam International, a global agricultural products producer and distributor with more than 90 legal entities and operations in 60 countries, faced complex financial consolidation, multicurrency reporting, and multiple-GAAP/IFRS compliance challenges. To reduce long consolidation and budgeting cycles and provide timely, secure financial data for decision making, Olam engaged Syniti to deliver an enterprise performance management solution (implemented using SAP BusinessObjects Planning and Consolidation).

Syniti implemented the EPM platform integrated with Olam’s Oracle ERP in a rapid, 17-week rollout, consolidating data from more than 90 entities and supporting multicurrency and IFRS requirements. As a result, Syniti enabled near-instantaneous retrieval of consolidated financials (formerly taking days), streamlined budgeting and forecasting, improved employee productivity, and produced the company’s first full fiscal year close on the new system.

Olam International

Rajesh Chopra

Senior Vice President, Corporate Affairs