Kinross Gold Corporation is a fast growing Canadian-based gold mining company with mines and projects in the United States, Brazil, Chile, Ecuador, Ghana, Mauritania and Russia, employing approximately 7,000 people worldwide. Kinross’ challenge, with multiple systems and chart of account structures, was to reduce reporting cycles and improve availability of operational information. Data was not easily accessed or consolidated, creating a strong need for an automated software solution to facilitate the reporting process.

In a recent webinar presentation, Kinross explained how SAP BusinessObjects Planning and Consolidation (BPC) was used to address the challenges of consolidating financial and operational results from multiple international locations and disparate source systems. They gained the ability to close the books faster, improved access to data, and simplified the reporting process.

Benefits
• Easy access to financial and operational data
• Ability to generate monthly internal consolidated results and quarterly financial statements
• Ability to issue audited financial statements simultaneously with publicly announced quarterly results
• Ability to complete consolidated balance sheet profit and loss, and cash flow statements 50% faster
• Ability to track operational metrics, including consumption of carbon emitting substances

The presentation slides are available here and the recorded webinar session can be found in our Download Recorded Demonstration section.