Dramatically accelerates reporting and fuels business expansion
Adaptive Insights, the leader in cloud corporate performance management (CPM), today announced that Eaton Towers, a leading independent telecom tower company in Africa, has implemented Adaptive Insights’ software to consolidate financials across seven countries, transforming its financial reporting and driving business expansion. The software deployment enabled Eaton Towers to accelerate its monthly reporting by 100 percent and facilitated its raise of $350 million in equity funding last year, which was critical to the company’s expansion from three to six markets in less than a year.
Eaton Towers has set out on a bold mission to help bring affordable mobile communications to Africa. With 5,000 towers in seven African countries, it has the most diversified geographical tower portfolio on the continent. The company deployed Adaptive Consolidation, part of the Adaptive Suite, to give it visibility into the performance of each region, and Adaptive OfficeConnect, to allow easy, professional reporting of that performance to both current and potential investors.
“The delivery of affordable mobile communications requires that we carefully manage our own financial performance and our expenses,” said Peter Cannan, group financial controller. “At the same time, we are on a fast growth trajectory and needed software that I could set up myself and would be easily understood by our users with very little training. Adaptive Insights software fit the bill, and today we are rolling up and reporting on substantial amounts of data—sometimes with the simple click of a button.”
According to the Adaptive Insights CFO Indicator Q3 2015 report, one-third of CFOs predict the amount of data they manage will increase over 50 percent within the next five years. Additionally, 41 percent of finance teams manage data from three to five source systems, and 22 percent pull from as many as five to 10 systems. The increase in both data and data sources has a significant impact on finance teams of all sizes and across all industries looking to consolidate and report performance.
Eaton Towers uses Adaptive Consolidation to roll up income and balance sheets, cash flow, revenue, and capex analysis. The company also leverages Adaptive OfficeConnect, a tool that allows users to easily create high-quality reports, board books, and presentations within Microsoft Excel, Word, and PowerPoint. The tool gives users total control over formatting and the power to refresh data with one click. These solutions together have enabled Eaton Towers to satisfy investors’ high standards for reporting and governance, delivering accurate financial information in a professional and reliable format.
“For fast-growing businesses, there are great benefits to be had from the agility and flexibility of cloud technology–as it effectively scales as the business does,” said Ian Preston, vice president of United Kingdom & Ireland, Adaptive Insights. “This agility is even more important for Eaton Towers, which has the added challenge of working across a vast geographical distance. Using our software, the finance team has been able to transform its processes across a continent, making its financial viability clear to investors, and putting the infrastructure in place for further growth.”
German January exports to UK fell 30% year-on-year as Brexit hit – Stats Office
BERLIN (Reuters) – German exports to the United Kingdom fell by 30% year-on-year in January “due to Brexit effects”, preliminary trade figures released by the Federal Statistics Office on Tuesday showed.
In 2020, German exports to the UK fell by 15.5% compared to 2019, recording the biggest year-on-year decline since the financial and economic crisis in 2009, when they fell by 17.0%, the Office said.
“Since 2016 – the year of the Brexit referendum – German exports to the UK have steadily declined,” the Office said in a statement.
In 2015 German exports to the UK amounted to 89.0 billion euros. In 2020, German they totalled 66.9 billion euros.
Imports to Germany from the UK totalled 34.7 billion euros in 2020, down 9.6 % compared to 2019.
(Reporting by Paul Carrel; Editing by Madeline Chambers)
German unemployment unexpectedly rises in February
BERLIN (Reuters) – German unemployment rose in February for the first time since last June, data showed on Tuesday, dashing expectations for a fall as lockdown measures to suppress the coronavirus case load held back Europe’s largest economy.
The Labour Office said the number of people out of work rose by 9,000 in seasonally adjusted terms to 2.752 million. A Reuters poll had forecast a fall of 13,000.
“Kurzarbeit (shortened working hours) continues to secure employment on a large scale and prevent unemployment,” Labour Office chief Detlef Scheele said in a statement, adding: “Individual sectors are feeling the effects of the lockdown.”
Germany has been in lockdown since November, and measures were tightened in mid-December, as it battles a second wave of the virus. Chancellor Angela Merkel has said new variants of COVID-19 risk a third wave of infections.
The unemployment rate remained unchanged compared with the previous month at 6.0%.
The labour agency said some 2.39 million employees were on shortened working hours in December under the government’s Kurzarbeit scheme designed to avoid mass layoffs during downturns by offering companies subsidies to keep workers on the payroll.
After peaking at some 6 million last April, the number of people on Kurzarbeit fell before rising again in November as lockdown measures kicked in, the Office said.
(Writing by Paul Carrel; Editing by Madeline Chambers)
We cannot ‘lockdown’ to avoid the climate crisis
By Vaughan Lindsay, CEO, ClimateCare
The parallels between the Coronavirus response and how we could all collaboratively tackle the climate crisis should not be overlooked. Tackling either problem, for instance, has changed our lifestyle in so many ways. In short, we have all have to make adaptations for a much longer-term gain. I also believe that the pandemic has highlighted to us all that we can live differently; indeed, that we are all incredibly adaptable.
We cannot isolate from the climate crisis.
Nevertheless, there are also some very important differences too; namely the speed in which we witness effects and how long we will all live with the impact. Covid-19 is more immediate, it’s on everyone’s minds (no matter how fatigued we all are by the topic after a year of living with it). Climate change, on the other hand, feels like a much longer-term threat which doesn’t invoke the same kind of unease or fear – or at least not enough for people to take immediate action. Yet, as Mark Carney so eloquently summed up recently, the world is heading for mortality rates equivalent to the Covid crisis every year by mid-century unless action is taken right now. “One of the biggest issues is you cannot self-isolate from climate,” he said. “That is not an option. We cannot retreat in and wait out climate change, it will just get worse.” Bill Gates also further highlighted the severity of the situation too when he recently commented that solving climate change would be “the most amazing thing humanity has ever done” and by comparison, ending the pandemic is “very, very easy”, the billionaire founder of Microsoft claimed.
Ultimately, the short-term imperative of dealing with the Covid-19 pandemic doesn’t alter the urgency of dealing with the climate crisis. And certainly, there is currently no ‘silver bullet’ for solving either the pandemic or climate change. However, there are a set of agreed actions that every business and individual can (and should) take to help tackle these issues. To tackle Covid-19 we lockdown, we work from home, we continue social distancing, washing our hands and wearing masks to protect one another and the NHS. And of course, we continue to roll out the vaccines and treatments for longer term protection.
On the other hand, we cannot lockdown to tackle the climate crisis. Rather for climate change, it’s about understanding and taking responsibility for our climate impact, both by changing our behaviour to reduce our carbon footprint and by decarbonising many of our business models and lifestyles. .
Now is the time to build back better.
To ‘build back better’ then we need to work towards a sustainable low or zero carbon recovery, and this needs to be done with realism and integrity. Not only does this mean that we need to work together to create integrated and robust climate strategies, but we also need to take action to decarbonise sooner rather than later and while we make these structural changes, we need to ensure that we are compensating for all residual emissions as part of everyday business too.
Taking action (over pledges).
Despite the pandemic, it was encouraging last year to see the ever-increasing number of corporates committing to achieve Net Zero status. However, whilst it is great to see firms working hard to measure their footprint and set reduction targets, many firms still admitted to us that they are waiting to get this right before they take action to reduce and compensate for their emissions. This remains a concern. Because, whilst these plans and long-term targets are commendable, they do little for the environmental damage that is being done right now. There is a risk of action hiding behind plans.
Ultimately, we need to more than halve emissions by 2030; this is equivalent to reducing the current emissions of China, India, the EU and the US combined. It’s a mammoth task. To tackle it we need to drive actions simultaneously and at pace, and then modify and adjusting moving forward. In simple terms, there really isn’t time to take things one step at a time anymore. We need to take action right away. As such – and as we continue through this coming year – we need to see more of these ambitious plans and statements put into practice, as companies continue to turn their plans (and pledges) into action.
Time to raise the bar.
The issue of climate change is now central to nearly all forward-thinking corporates and we are now witnessing one of most encouraging environments for them to act on this. It’s vital to ensure that the role of the voluntary carbon market delivers real additional emission reductions on the ground and at scale.
Never before has there been a better time to raise the bar and our own ambitions about what positive corporate action looks like. Because the climate will not respond to targets and pledges. Only action counts.
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