Customer Company Size
SME
Region
- America
Product
- Sage 300 ERP
- Centage
Tech Stack
- ERP Systems
- Budgeting Software
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Productivity Improvements
- Cost Savings
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Marine & Shipping
Services
- System Integration
About The Customer
Located in the beautiful Bahamas, Arawak Port Development (APD) was created in 2009 to allow downtown Nassau to shine by moving the commercial shipping companies a few miles to Arawak Cay. Along with the move, APD took the opportunity to streamline both shipment and customs processing operations and has since been named the most productive port among 24 in the region by the Florida Shipowners Group, for auditors, and enable the APD Board of Directors to better manage the growth of the organization. APD is a critical enterprise for The Bahamian Government and its citizens, with all ocean freight passing over their bulkhead at the Nassau Container Port (NCP). In 2012, APD joined The Bahamas International Securities Exchange in a public-private partnership with the Government of The Bahamas in an IPO that raised $10M Bahamian Dollars (the U.S. Dollar and Bahamian Dollar are equivalent), and offered an unprecedented 20% of its shares exclusively to Bahamian citizens.
The Challenge
Arawak Port Development (APD) is a critical enterprise for The Bahamian Government and its citizens, with all international ocean freight passing over their bulkhead at Nassau Container Port. After going public in 2012, APD needed to start producing a range of financial statements that would satisfy the quarterly and annual filing requirements of the Securities Commission of The Bahamas, provide sufficient information to external auditors, and enable the APD Board of Directors to better manage the growth of the organization. APD's CFO, Dion Bethell, also wanted to increase the level of detail in his planning, while concurrently weaning the management team away from budgeting for items that had a low likelihood of occurring. Because APD is a critical economic hub for the country of The Bahamas, there was no room for error.
The Solution
The software installer for APD’s Sage ERP system recommended that Bethell take a look at Centage and its robust reporting and analytics capabilities to address his budgeting and financial reporting needs. After careful consideration, Bethell found that Centage’s solution would allow him the degree of oversight that APD now required, while also saving his team time and effort. Bethell loaded the current year’s budget into the solution in a dry-run to ensure they’d be able to close the books efficiently by their fiscal year-end. APD was essentially a start-up, and Bethell was able to easily load all of the prior years’ actuals with no loss of data. Centage’s driver-led budgeting is a critical element in creating an actionable budget that can be managed at a very detailed level.
Operational Impact
Quantitative Benefit
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