Discover Pandora’s transformative journey with Acterys, solving intricate financial challenges. From an outdated legacy system to global transparency, witness the evolution of precision and efficiency in strategic financial planning.
Background & Challenges
Pandora A/S, a globally renowned jewelry company headquartered in Denmark, faced significant challenges in its financial planning processes due to an outdated legacy system. The company’s quarterly financial planning involved labor-intensive data aggregation from over 80 countries, leading to inaccuracies, lack of transparency, and prolonged reporting cycles. Moreover, discrepancies between the financial planning system and the accounting database eroded trust among stakeholders and created uncertainty among investors.
Key Challenges
- Outdated legacy systems led to inaccuracies in financial reports.
- Manual data aggregation from over 80 countries strained teams.
- Data discrepancies between financial planning and accounting systems.
- Inadequate financial planning impacted the accuracy of financial reports, affecting investor confidence.
Transforming Financial Planning at Pandora with Acterys
Acterys streamlined financial reporting processes, enhanced error tracking and transparency, and enabled the transition from quarterly to monthly financial projections. This integration improved operational efficiency and synchronized financial planning with accounting systems, enhancing data accuracy and reliability.
Operational Excellence with Acterys at Pandora
The integration of Acterys at Pandora ushered in a new era of efficient financial management characterized by faster reporting and increased transparency, leading to significant time savings and cost-effectiveness in their operations. Praised by CFO Maria Andersson for its pivotal role in enhancing financial planning, Acterys has been instrumental in improving data accuracy and empowering teams, marking a significant step in Pandora’s operational transformation.
Pandora’s Strategic Future with Acterys
Pandora’s future strategy includes leveraging Acterys to enhance its financial operations further. Acterys will facilitate quicker, more accurate financial reporting, which is crucial as Pandora expands its market presence. The platform’s integration with Pandora’s existing tech stack ensures a seamless financial ecosystem, supporting agile decision-making and maintaining high data accuracy, which is essential for Pandora’s growth and market leadership.
Results
With Acterys, Pandora successfully modernized its financial planning processes, achieving data confidence and operational excellence. Implementing Acterys’ solution enabled real-time financial reporting, enhanced data accuracy, and improved transparency. The streamlined financial planning process empowered Pandora to make proactive decisions based on accurate financial insights. With positive user feedback and substantial cost savings, Acterys proved valuable in Pandora’s journey toward operational transformation and success.
“Acterys played a pivotal role in synchronizing our financial planning with real-time business dynamics, empowering our teams to work with precision and deliver accurate results.”
Maria Andersson, Chief Financial Officer, Pandora
About Pandora
- Headquarters: Copenhagen, Denmark
- Employees: Over 28,000
- Global Presence: Products sold in more than 80 countries
- Annual Revenue: Exceeding $8.3 billion
- Pandora A/S is a global jewelry company known for its charm bracelets, rings, earrings, and necklaces, with a strong presence in over 80 countries worldwide.
