TGI Sport is a multi-disciplined sports infrastructure, technology and media rights business that shapes sports event experiences globally and engages millions of fans worldwide. Operating in 150 cities, their group of companies include TLA, Sportseen, ISG and Brand Brigade.
TGI Sport moved from spending time compiling data to focusing on analysis and strategy. They now have a tool that truly supports their business, enabling them to efficiently manage their global operations and drive performance.
The Challenge: Wrestling with Spreadsheets
TGI Sport was using spreadsheets to manage finances – leading to frequent copying, pasting and human errors. Forecasting was another pain point, and without a continuous re-forecasting system, they couldn’t see how budgets were tracking throughout the year. This lack of visibility made it difficult to adjust strategies quickly – an essential need for a rapidly growing company.
The Search for a Solution
TGI Sport needed a robust financial planning tool that integrated seamlessly with NetSuite, their accounting system. They wanted something that could handle budgeting, forecasting, and reporting across their diverse entities and countries. The goal was clear: eliminate spreadsheets and bring in a solution that supports driver-based and scenario modelling.
The Winning Play: Workday Adaptive Planning
TGI Sport selected Workday Adaptive Planning and partnered with QMetrix for the implementation. This change helped them move from manual processes to a more streamlined and automated approach.
Implementation: From Spreadsheets to Streamlined Processes
TGI Sport kicked off the implementation by mapping their previous year’s budgets and actuals into Workday Adaptive Planning. This standardisation process spanned 50 countries and 34 entities. They also had to incorporate data from different systems like Xero, ensuring everything flowed seamlessly into NetSuite and then into Workday Adaptive Planning.
This move brought about a significant shift, as TGI Sport could now overlay actuals on the budget in real-time, facilitating quick re-forecasts and enabling fact-based decision-making. Instead of looking back at how they performed, they could now focus on how they are performing and what adjustments were needed to stay on track.
Real-Time Reporting: A Click Away
Workday Adaptive Planning supports multi-dimensional, driver-based modelling. TGI Sport created precise models for their LED signage operations, allowing them to adjust variables and see immediate impacts on revenue. This streamlined the budgeting process and improved accuracy.
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Driver-Based Modelling: Precision in Planning
One standout feature of Workday Adaptive Planning is its support for multi-dimensional, driver-based modelling. For TGI Sport, this meant creating a precise model for their extensive LED signage operations. Previously, managing this involved cumbersome spreadsheets and it was nearly impossible to forecast accurately. Now, they can adjust variables and see the immediate impact on revenue, maintaining multiple versions to compare different scenarios quickly.
The Interface: Familiar Yet Powerful
The Excel-like interface of Workday Adaptive Planning made the transition smooth for TGI Sport’s finance team. This familiarity facilitated collaboration across global teams without a steep learning curve.
The QMetrix Experience: Collaboration and Support
Max Davis, TGI Sport’s Global Financial Controller, commended QMetrix for their collaborative approach. Regular catch-ups ensured everyone stayed aligned and challenges were promptly addressed, despite the complexities of multiple acquisitions during implementation.
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The Impact: A New Era of Financial Control
The benefits for TGI Sport have been tremendous:
- Real-time data: Always up-to-date and accurate.
- Improved planning: Ability to budget, overlay actuals, and re-forecast frequently.
- Effortless reporting: Quick generation of reports for departments, entities, and the board.
- Enhanced collaboration: A cloud-based system accessible anywhere, anytime.
- Standardised modelling: Consistent performance comparisons across the globe.
- Scenario modelling: Data-backed insights for future planning.
To hear how QMetrix can help transform your financial planning, contact us.
Consulting solution: Budgeting and planning
Technology solution: Workday Adaptive Planning
Industry: Sport
Check out the Tennis Australia Case Study: Integrated financial and strategic planning in sport
