Comfama: Enabling more-agile planning with cloud-based analytics
Explore Comfama’s journey with SAP
Comfama is a non-profit organization in Antioquia, Colombia, that was formed 69 years ago by workers and businessmen with the goal of improving the quality of life of families. To help deliver the best value to the communities it serves and to simplify its financial planning process, Comfama has leveraged the SAP Analytics Cloud solution for planning.
| Industry | Region | Company Size | Partner |
| Cross-Industry | Medellín, Colombia | 6,155 employees | On Business Consulting S.A.S |
faster financial closing.
less time needed to prepare reporting.
Financial Analysis Manager, Comfama
Managing the delivery of essential social services
Colombian nonprofit organization Comfama is responsible for the delivery of a wide range of social care initiatives, from educational, healthcare, and cultural programs to financial services and housing construction. For a private company managing public investments, efficient planning of financial expenditure is key, as is providing the transparency and accountability needed to show the best value for money spent.
However, managing cash flow across diverse business activities is a complex task. Managing the planning process with multiple spreadsheets for different business areas, the finance team spent a significant amount of time compiling planning information. In addition, the risk of data errors due to manual processing meant that planners didn’t always have the confidence that they needed in the figures.
Comfama wanted to streamline planning processes by cutting the amount of manual work required by finance personnel. To address this, it looked for a solution to automate the creation of forecasts and planning reports by drawing directly on relevant data sources while making it straightforward enough to share information across the business.
Proactive guidance in creating a future-ready enterprise
Comfama was impressed by the rich planning capabilities in SAP Analytics Cloud that enable users to drill down to planning details in different cost centers in just a couple of clicks. As an existing SAP customer, it was also attracted to straightforward integration with its other SAP solutions to enable agile and efficient data management.
With help from SAP partner On Business Consulting S.A.S., the organization deployed SAP Analytics Cloud for planning in just six months. Drawing on data in the SAP ERP application, the cloud analytics solution provides the finance team with forecasts and reports at the touch of a button.
Comfama called on the Cloud Success Services team for help in ensuring a successful deployment and adoption of the solution. Using a “future-ready enterprise” methodology, SAP experts helped the implementation team understand how to get maximum value from SAP Analytics Cloud for planning. To help users adjust to a new way of working, Cloud Success Services also ran adoption workshops. These helped Comfama better understand how the solution could help it work more productively by accessing information faster.
Improving productivity while reducing compliance risk
With SAP Analytics Cloud for planning in place, Comfama has already achieved some significant wins. Instead of taking two weeks, the quarterly closing process now takes less than one day. Moreover, the time taken to allocate costs and prepare reports has reduced by more than 90%.
As a result, the finance team can spend less time on collating figures and more time analyzing them. And with the ability to run on-demand simulations at the touch of a button in SAP Analytics Cloud for planning without help from IT, the finance team is better equipped to quickly evaluate new scenarios and make agile and well-informed business decisions.
With forecasting data now coming directly from SAP ERP rather than being manually typed into spreadsheets, there is less risk of data errors in reports. This enables Comfama to meet stringent reporting requirements to provide transparency on the spending of public money and helps ensure that state funding is accounted for.
Improving forecasting processes to deliver better value to the community
Comfama is currently looking at extending its use of SAP Analytics Cloud for planning to individual business areas so that teams running education, healthcare, or leisure facilities can create their own detailed financial plans. With wider access to the analytics solution, the organization anticipates that employees from different areas will be able to collaborate more effectively, improving overall operational effectiveness.
Also planned is the establishment of a live connectivity with SAP ERP so that planning teams are working with the latest financial data. In addition, a feed of data from the SAP Business Warehouse application will enable Comfama to carry out predictive analytics based on the historical data that is archived in the application. In this way, the company aims to continuously refine spending plans to deliver outstanding social services and deliver maximum value to citizens in the Antioquia region.
Featured partner
Established in 2004, On Business Consulting S.A.S. operates across Colombia, Guatemala, and Peru. With a team of over 90 consultants, the company provides specialized analytics expertise, financial planning, integrated technological solutions, and financial modeling services to help businesses transform and grow.