Ammega Group, a global leader in belting solutions, selected Board to standardize its reporting and planning processes across 120 subsidiaries, unifying diverse ERP systems in a single platform.
With Board, Ammega has automated manual tasks: based on user feedback from Ammega’s finance team, Board implementation resulted in approximately 20% time savings in data preparation while also reducing errors.
The platform’s flexibility enables tailored budgeting and forecasting models, advanced financial consolidation, and real-time reporting. By centralizing data, Ammega has improved collaboration across teams, enhanced decision-making with accurate insights, and established a scalable foundation to support future growth and acquisitions.
Daniele Paoli
Financial consolidation with Board has allowed us to aggregate data from 120 subsidiaries efficiently. We now create consolidated financial statements with accuracy and speed that meet both operational and compliance needs.
The Company
Ammega Group was founded in 2018 through the merger of Ammeraal Beltech and Megadyne, creating a global leader in belting solutions. With 72 legal entites operating in more than 25 countries, the group employs 6,000 people and produces conveyor belts and power transmission systems for industries including manufacturing, food processing, and logistics.
The Challenge
The merger brought an immediate need for a unified control and reporting structure capable of supporting Ammega’s business strategies. A key requirement was a platform that could manage comprehensive planning of the P&L, balance sheet, and cash flow while enabling advanced financial consolidation for monthly and annual statements. The Group also needed a centralized reporting environment that allowed employees at all levels and across all functions to interact with data from a single, reliable source.
“In the immediate aftermath of the merger, decision-making processes were managed locally, with each geography using different data models and processes,” explains Daniele Paoli, Vice President Business Finance EMEA. “This fragmented approach made it difficult to standardize and aggregate data, particularly when trying to distinguish between organic and inorganic growth.”
For a Group with 72 legal entities, the reliance on spreadsheets for critical tasks such as financial reporting and growth analysis became unsustainable. The absence of an efficient system for aggregating data delayed processes, increased errors, and limited the Group’s ability to adapt to the evolving business landscape.
The Solution
A tailored platform for streamlined processes
Ammega partnered with Board to address these challenges in 2020. Rather than favoring legacy systems from either of the two merging companies, Ammega built a new, standardized data model from scratch. This ensured a neutral and simplified approach that could be adopted globally while allowing flexibility for regional adaptations.
The implementation began with the annual budget, followed by the rollout of four accounting and reporting modules and five modules for short-, medium- and long-term planning. These include:
- Financial consolidation: financial statements and customized IFRS reporting modules streamline the preparation, consolidated, and statutory financial statements. With Board, Ammega can efficiently manage over 3,000 contracts and automate disclosure notes for financial statements.
- Budgeting and forecasting: A 30-step annual budgeting model produces P&L, balance sheet, and cash flow projections, while a streamlined monthly forecasting model accelerates user activities.
Daniele Paoli
Automating key tasks has made a real difference. Not only have we saved significant time, but we’ve also reduced errors and improved the quality of our reporting.
The Benefits
Boosting efficiency with automation
Board has transformed Ammega’s planning and reporting processes, delivering key improvements:
- Significant time savings: Automating manual processes such as data collection and preparation has freed up resources for higher-value tasks.
- Improved accuracy: Automation has minimized errors, enhancing the quality of financial data and increasing confidence in reporting.
- Enhanced collaboration: Consolidated processes in a single platform foster better communication across teams and business areas.
“Automating key tasks has made a real difference,” notes Daniele Paoli. “Not only have we saved significant time, but we’ve also reduced errors and improved the quality of our reporting, which empowers us to make better decisions faster.”
Conclusion
Board’s flexibility has also positioned Ammega to seamlessly integrate new acquisitions. By leveraging an intermediate data layer, the platform easily adapts to new ERPs and models without requiring additional integrations. This approach ensures scalability while maintaining operational consistency across the Group.
To further support its growth, Ammega plans to:
- Expand the number of Board users to enhance collaboration.
- Build an internal community for sharing best practices and improvement ideas.
- Explore advanced capabilities, including AI integration and external dashboards, for more sophisticated analysis and forecasting.
Daniele Paoli concludes:
“The platform provides the flexibility we need to grow and adapt. As our business evolves, Board will continue to support us in making better, faster decisions.”
Fabrizio Guarneri
Bringing all our data into one system has completely changed how we work. Teams can now access the information they need instantly, improving collaboration and efficiency across the board.
