Banking – budgeting & forecasting

Company Overview

This client is a division of one of the major Australian banks and ran operations in 7 countries in the pacific region. Its business provides financial products and services covering basic transactional bank accounts through to high-end innovative financial solutions for larger local companies and those with business links to Asia, Australia and New Zealand.

Challenges and Business Objectives

  • These branches were completely autonomous running their own banking system with the basis of all transactions being in the home currency of each country. Each branch also ran their own accounting system and associated chart of accounts. ​
  • The Client required a solution that on a nightly basis would take the transactions from each of these remote locations, convert them into Australian Dollars, map each country chart of account to the Bank’s master chart of accounts and upload the translated transactions into the Austalian HQ accounting system and reflected as part of the group’s prior day activity the next morning.
  • The system was also to be utilized for management reporting, Budgeting, reforecasting and the calculation of complex performance metrics in the country of origin and in HQ so it needed to reflect BOTH the local view and head office view of all reports.


  • Automated Monthly Management Reporting
  • Risk Adjusted Assets, Capital Benefit and Capital Charge calculations, IFRS Reporting
  • Customer Credit Reporting
  • Foreign Currency Translation
  • Chart of Account Translation
  • Daily upload to Group HQ
  • Quarterly Reforecasting
  • Annual Budget Process