Consolidating Financial Data for Efficient Management at Forico

Forico is a Tasmania-based company that operates in the agriculture and farming industry. It is an integrated business that combines timber plantation, forest management, and timber export. The company manages over 170,000 hectares of forest in Tasmania, making it a large-scale forestry operation. The nature of its operations necessitates the handling of large volumes of data, particularly in the finance department. The company was previously reliant on spreadsheets and other platforms for data management and reporting, but these methods proved inadequate due to the high volume of information.

Forico, an integrated timber plantation, forest management, and timber export business based in Tasmania, was grappling with the challenge of managing a large-scale forestry operation. The company oversees more than 170,000 hectares of forest in the island state, a task that necessitates the consolidation of vast amounts of data. The existing data management and reporting methods, primarily spreadsheets and other platforms, were proving inadequate for the high volume of information. The company was in dire need of a more streamlined data management and reporting method that could handle the large data volumes, reduce manual errors, and quickly identify data discrepancies.

To address these challenges, Forico adopted Board's Intelligent Planning Platform. This platform enabled the company to consolidate inventory and financial data faster and more efficiently. It provided a solution to the problem of data discrepancies and manual errors that were prevalent with the previous system. The platform's intelligent planning capabilities allowed for more efficient data management, significantly reducing the time taken to produce meaningful reports. The adoption of this platform marked a significant shift from the traditional spreadsheet-based data management to a more streamlined, efficient, and error-free system.

• The adoption of Board's Intelligent Planning Platform has brought about significant operational improvements at Forico. The company has moved beyond spreadsheets to a more efficient and streamlined data management system. The platform has enabled the company to work smarter, not harder, by automating and streamlining the data consolidation process. This has not only reduced manual errors but also made it easier to identify data discrepancies. The time taken to produce meaningful reports has been significantly reduced, allowing the company to make quicker decisions based on accurate data. Overall, the platform has enhanced the efficiency and accuracy of Forico's data management and reporting processes.

• Significant reduction in the time taken to produce meaningful reports

• Efficient consolidation of large volumes of inventory and financial data

• Significant reduction in manual errors