Access the full case study by filling in the form
You can access the content in the button below.
🎯 Key Points
- Ebury is a complex fintech that is regulated in over 20 markets. Two people were assigned to prepare financial models and consolidate the groups's income statements.
- The finance team faced 3 main challenges: data extraction, transformation & building of financial models, and multi-market consolidation.
- Abacum's FP&A Operations team migrated Ebury's complex financial models from Excel into the platform.
- Ebury's finance team vastly improved their business partnering across the 24 Country Managers & executives by forecasting in Abacum.
Since its founding in 2009, Ebury has grown to become one of the largest fintechs worldwide. Ebury provides foreign exchange solutions to SMEs globally with 24 offices across North America, LATAM, Europe, Middle East, and Asia Pacific. They have helped countless businesses expand internationally by easing the barriers in foreign exchange.
In 2019, Ebury acquired Frontierpay, a payroll payments provider that automates international payments for SMEs. What was already a complex fintech business, regulated in 20+ markets, became even more complicated with the acquisition. For instance, Frontierpay’s P&L and business drivers were different to Ebury’s, so data had to be manually cleaned and transformed before it could be consolidated.
For the number of offices it served and the complexity of its data, the task of extracting information, preparing the financial models and consolidating P&Ls for each market fell on two members of the finance team: Ana Muñoz, Head of Corporate Finance, and Maria Lapucci, Corporate Finance Manager. This process took approximately 11 days to complete.
Access the rest of the case study by filling-in the form above & find out how Ebury took their planning process from 11 to 4 days.
Ebury’s complex financial data preparation was a challenge for Ana and Maria but Abacum was able to turn that into an opportunity for them to be better value-drivers.
Abacum empowers finance teams of high-growth tech companies to become true strategic partners in the organization by driving time-to-insight with powerful automation and seamless collaboration. Request a demo now to see the product live and start your own transformational journey.