SA Taxi unlocks real-time custom reporting capability across the enterprise with intelligent financial planning and forecasting solution

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The customer

SA Taxi is a South African financial services organization that provides financial support and investment to the growing South African minibus taxi industry.

Fact sheet

The solution: Workday Adaptive Scheduling Solution

Industry: Financial services

Vendor: Decision Inc.

User: Taxi SA

The company helps entrepreneurs develop successful businesses in a sector traditionally considered high risk and plays an important role in creating jobs and growth in the country.

Part of the JSE-listed Transaction Capital Group, SA Taxi has been in business since 1996 and focuses exclusively on the taxi industry. Today, SA Taxi finances nearly 35,000 of the estimated 250,000 taxis currently operating on South African roads and plays a central role in the economy and the transport system.

Requirements

SA Taxi, with its vertically integrated business model, has invested in operations to support the various aspects of SA Taxi’s business.

Martine Burgess, head of the FP&A group at SA Taxi.

The company offers financing in the form of an asset-backed loan to minibus taxi operators – the vehicle then provides the loan repayment mechanism as an income-generating asset. SA Taxi has a significant insurance business, providing bespoke industry insurance for our financed and open market vehicles. The company has invested in comprehensive remanufacturing, parts supply and stocking capabilities. In addition to this, other ancillary products include rewards in the form of fuel, tires and parts, and telematics.

SA Taxi needed a solution that would allow them to improve forecast accuracy and manage their forecasts more efficiently. A solution provider capable of providing post-implementation support was a key requirement to ensure that SA Taxi was supported in areas where it could not immediately be self-sufficient.

SA Taxi required the solution to provide them with the ability to meet the unique needs of each financial stakeholder. The solution needed to be integrated with the ERP system, provide detail down to every ledger in the ERP system, and provide high-level information to executives and funders for better operational decision-making.

Additionally, the company wanted more frequent forecasts with increased sophistication while improving team productivity by reducing the impact of more mundane tasks.

“Everyone had to understand precisely how the system worked, how to get more detail than in the past, and how to get the most out of the solution. With the help of Decision Inc., we were able to bring everyone in and show them the benefits of this knowledge and collaboration within the SA Taxi Group. Martine Burgess, head of the FP&A group at SA Taxi

The solution

SA Taxi worked with Decision Inc. to implement a Workday Adaptive Planning solution. Decision Inc. and SA Taxi ensured that all the right teams and people were equally invested throughout the implementation process. It was crucial that key stakeholders in each operational area provide feedback, that everyone understood the relevance of the data, and that the benefits were visible to all stakeholders.

The step-by-step implementation included:

The project plan was detailed down to the task level to ensure the project was delivered on time and on budget.

  • Training and support to ensure full use of the solution

Decision Inc. provided the SA Taxi team with training and support throughout the six-month implementation phase and invested in making the entire process a long-term success. We provided SA Taxi with a dedicated post-implementation support team who ensured that the team would become familiar with the tool and use it to its full potential under immense time constraints.

  • Informed and efficient SA Taxi team

We made sure that all teams fully understood how to leverage the database and become effective in their areas of expertise.

“I hadn’t realized the design phase would be such an important part of the project – it was almost a third – but it was this detailed one-on-one with our modeling team and Decision Inc. documenting every calculation of cell and unpacking the objective of each business unit which resulted in a successful representation of our company in the tool. Martine Burgess, head of the FP&A group at SA Taxi

Benefits and Realized Value:

“Entries, including historical data, are so much faster to update. Everything is faster to execute. In the past, we wouldn’t have been able to open three versions of our budget models simultaneously; we now have the range, precision and scale we need at all times. » Martine Burgess, group leader at SA Taxi

  • Improved data availability, efficiency and system capabilities

The company now has a cloud-based solution, using historical data pulled directly from the internal data warehouse. This provides several different financial statement views and automated interconnection of other planning models across SA Taxi’s business.

  • Diversified reporting capabilities

The solution can provide several different financial statement views that are automated and interconnected with other planning models across the enterprise.

  • Smart analytics with intuitive insights

The solution provided SA Taxi with dynamic and intelligent data and insights beyond traditional static models and data.

  • Increased forecast accuracy

Each applicable line modeled in Workday Adaptive Planning is mapped to general ledger accounts that feed into the income statement and balance sheet, giving true instant thinking based on planning and forecasting data.

  • Automated data forecasting

The solution automatically models the data and modifies the P&L and balance sheet information. All financial statements are available in the view that best suits the unit and the situation.

Historical information from the ERP is fed directly into the forecasting models, which determines the forecast figures as well as the assumptions entered by SA Taxi, allowing for increased accuracy and relevance of the data.

  • Increased efficiency and processing speed

Data and forecast integrations can be performed at any time or on a specific schedule defined by SA Taxi. Mundane administrative tasks are drastically reduced and everyone in the company has visibility to the right information at the right time.

  • Increased transparency and personalized reporting

All data comes from a centralized database, so the information is checked only once and then the system is set up to automatically handle monthly updates and other essential tasks. Financial statements, income statement balances, cash flows and data are accessible in summary formats tailored to the individual, department and role.

Looking forward:

SA Taxi is committed to providing a unique and sustainable product offering to its customers. This goal is achieved through continuous innovation and investment in the right people, systems and processes across the business. This investment in their forecasting capacity demonstrates this philosophy.

The Workday Adaptive Planning solution has enabled SA Taxi to accelerate its forecasting processes and push the boundaries of its overall FP&A capabilities. The SA Taxi team can now focus on providing value and insights instead of focusing on gathering insights. SA Taxi looks forward to continuing its digital transformation journey to continue fostering data-driven decision-making.

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