Overview

Based in Istanbul, Turkey, Kıraça Holding was founded in 1998 as Kıraça Group of Companies. Today, through its many local and global subsidiaries, the corporation manufactures and distributes commercial vehicles, automotive spare parts and yachts. It also provides design and engineering services for the automotive, maritime and energy sectors. Some of its brands, which include Karsan Automotive, Karland Automotive, Kırpart Automotive Spare Parts and Sirena Marine, are listed among the Fortune 500 companies in Turkey. Kıraça Holding employs thousands of people.
Business need
Kıraça Holding A.Ş. used spreadsheets to manually collect and analyze disparate financial data from its group entities, making data consolidation and reporting time-consuming and error-prone.​
Transformation
The company engaged IBM Business Partner Planist to deploy a solution based on IBM® Cognos® TM1® software that systematically pulls financial data and automates consolidation and reporting processes. The system automatically pulls and consolidates data from ERP systems and automates consolidation and reporting processes, helping the business measure and assess its financial performance more quickly and accurately.
Benefits

• 66% shorter preparation times for consolidated financial statements and reports, from three weeks to just a few days. 
• Minimizes manual intervention ​by automating the data collection and consolidation process
• Reduces reporting and data errors​ by systematically computing consolidation calculations