Banyan Group, a global hospitality leader operating across 17 countries with over 80 legal entities, faced increasing complexity in its financial consolidation and reporting processes.
With multiple accounting standards (Singapore GAAP and Thai GAAP), currencies, and business segments, the organization relied on a legacy consolidation system that was no longer able to support its growing needs.
To modernize its finance function and gain better control over group reporting, Banyan Group implemented CCH Tagetik Financial Close and Consolidation, with Inulta as implementation partner.
The transformation enabled a shift from a rigid, IT-dependent system to a flexible, cloud-based platform that supports complex consolidation requirements while giving finance teams greater autonomy and control.
By centralizing financial data and standardizing processes across entities, Banyan Group improved accuracy, reduced audit complexity, and accelerated its financial close cycle.
Highlights:
- Financial close accelerated by ~5 working days
- Consolidation across 80+ legal entities streamlined
- Multi-GAAP reporting managed within a single platform
- Reduced audit issues through improved data structure and controls
- Greater independence for finance teams, with less reliance on IT
- Cloud-based foundation supporting future expansion (planning, ESG, disclosure)
Want to see how Banyan Group simplified complex consolidation and gained full control over global reporting? Discover how a modern CPM platform can transform your financial close and support future finance initiatives.
