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Deloitte and Sasol Success Story

Deloitte and Sasol Success Story

What are the objectives of Finance Of The Future?

PBF Implementation objectives

The objectives of the engagement were to redesign the current PBF process through multiple phases with the aims of:

  • Develop a tactical budgeting solution that Sasol could use for preparing FY23 budgets and reduce reliance on manual excel based solutions and legacy applications
  • Implement an automated cash flow solution with minimal manual intervention
  • Build a driver based planning model that integrates with actuals data, uses consistent drivers/KPIs’ and delivers meaningful analysis of the results

IVC Impairment Modelling objectives

Core objective was to develop and Integrated Value Chain Impairment Modelling process to align to the IAS36 requirements whilst simultaneously achieving the following:

  • Automate data loads and reducing manual interventions in the IVC process
  • Create a centralised and auditable data repository
  • Automate net present value calculations
  • Increase auditor reliance on the IVC process

Project Approach

 

Analysis - Establishing an Assumption based model capable of storing, and calculating key drivers which can be used within multiple, scenarios to determine value and ensure model standardisation.

Build - Create a new Integrated Value Chain Impairment model aligned to IAS 36 which could determine the present value of all cash flows so that impairments can be tested on an automated basis.

Testing - Create a driver-based rolling forecast model, which can integrate with their IBP volume-based modelling application.

Deployment - Integrate with their current 15 SAP instances to directly source the Actual data to baseline the planning, budgeting and Valuation models.

Value to Client

 

  • The client is decommissioning its end-of-life software and saving in longterm legacy software costs.
  • Improved processing times
  • Integrated planning and reporting processes.
  • Increased accuracy of data
  • Improved confidence in the budgeted position
  • Mitigation of adverse audit findings within the financial reporting process
  • Automated assessment of assumption-based changes on their planning and valuation models

Robust integrated solution accurately calculating the NPV of SASOL over the entity's operational life. This takes R1 Trillion worth of free cash flow to be valued.

“The Finance of the Future program for Sasol was about more than just implementing cutting edge technologies and modern software, it was about implementing a solution that would work now and going into the future.”

 

- Tsholo Masakale, Associate Director | Finance & Performance

Key contacts

Kavitha Prag

Director & Enterprise Technology & Performance Offering Leader
+27 11 517 4304

Siliziwe Mafika

Director: Enterprise Technology & Performance – Finance & Performance
+27 11 517 4131