Press Corporation Limited: Elimination of non-value-adding activities and timely processing of financial data
Press Corporation (PLC) is a public company incorporated in Malawi, under the Companies Act 1984. It is the largest holding company in Malawi, and has interests in different sectors of the Malawi economy including: financial services; telecommunications; energy property investments; and hospitality and tourism. The highly diversified company has stakes in fifteen companies comprising eight subsidiaries, four joint ventures and one associate.
Organization Mandate: Maintaining a leading position in the private sector, and in sectors where potential market growth is ascertained from the global economic and social trends
Size: Over 200 employees
Challenges faced before implementation
Press Corporation Limited was faced with data entry duplication and low speed in processing its financial data. Accessing information across the group was also very difficult. PCL, therefore, sought to find a system that will provide a platform that allows easier consolidation of financial data from the PCL subsidiaries to the head office.
Solutions & services implemented
- Financial Accounting
- Financial Controlling
- Materials Management
- Real Estate Management
- Human Capital Management.
TTCS trained super users to be able to carry out transactions in the system and provided post-go-live support.
Business benefits realised
- Elimination of non-value adding activities, such as data entry duplication
- Timely processing of PCL's financial data
- Better information for critical decisions
- Reduced reliance on legacy systems
- Improved quality of financial data
- Improved ability to service customers
- Enhanced information sharing and access across the group