Port Nelson touts benefits of real-time analytics

Uses cloud corporate performance management from Adaptive Insights to better manage its automated finance, planning and budgeting cycles.

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Port Nelson says real-time analytics from its cloud-based corporate performance management tool is key to improving the management of its finance, planning and budgeting cycles.

The port, which is jointly owned by the Nelson City Council and the Tasman District Council, has been using the cloud-based CPM from Adaptive Insights since 2014.

“Operating in a port environment requires an ability to react quickly to seasonal and operational challenges and therefore the finance team is challenged to deliver-up-to-date reports that are influential for key business decisions,” says Port Nelson finance manager Mason Robinson.

“We realised we were wasting crucial hours consolidating data and working off different systems so sought a solution to assist in streamlining these operations,” Robinson says in a statement.

We have now gained the capacity to provide insightful, accurate reports that save time spent on cycles by up to 320 hours each quarter.

Mason Robinson. Port Nelson

He adds: “We have now gained the capacity to provide insightful, accurate reports that save time spent on cycles by up to 320 hours each quarter.”

The system was tested last year when a hail storm was initially reported to have destroyed 50 per cent of Nelson’s apple crop.

This significant incident impacting on the port occurred two days before a Board meeting. Using the Adaptive Insights, Robinson says the CEO and CFO were very easily and accurately able to advise the Board of the possible impact of the incident to the Net Profit After Tax line.

The company also worked with GK Horizons to deploy Adaptive Planning. This helped strengthen the organisational workflow and reduce resources spent combining spreadsheets and consolidating data. Before this, the port relied on Excel spreadsheets.

The cloud-based financial planning software was also decentralised from the finance department, and provided business managers complete ownership of management and finance processes.

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