Nongfu Spring Profile
Nongfu Spring, a typical example of a complex production management model in the beverage industry with 1000 users and nearly a thousand products/raw materials, faced several challenges in its financial planning and analysis (FP&A) before implementing a comprehensive budget system.
农夫山泉
Pain points & Challenges
Before implementing EVOX, Nongfu Spring faced several significant challenges with its budget and FP&A processes, primarily stemming from its reliance on manual methods:
  • Error-prone and lack of granularity: Manual compilation is prone to errors that are difficult to identify and  correct, resulting in limited data granularity and difficulty conducting multi-dimensional analysis.
  • Inefficiency and high workload: Preparing different budget versions is labor-intensive and repetitive. They face tight deadlines for various metrics and budget compilation, and manual data segmentation and aggregation is extremely inefficient.
  • Lack of real-time monitoring: Bottom-up budget compilation involves numerous spreadsheets and personnel, making real-time monitoring and timely alerts impossible. 
  • Data discrepancies: Business data and financial data are inconsistent.
  • Limited automation of production costs: Key production costs such as energy consumption and equipment overhauls are manually entered by factory users, lacking automation and standardization.
Strategic Goals
  • Improving budget accuracy: Conducting budget simulations based on detailed, actual sales and production management granularity. 
  • Improving monitoring and guidance: Establishing a high-frequency rolling forecasting mechanism. 
  • Improving accuracy and efficiency: Leveraging the system's highly automated calculations to improve budget accuracy and replace manual operations. 
  • Automated reporting and processes: Automatically integrate actual execution data and generate analytical reports; run budget processes online for automated monitoring. 
  • Refined factory management: Implement more refined management at the factory level.
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EVOX Solutions
  • Integrated Budgeting Model: The system covers sales, production, procurement, inventory, personnel, revenue, costs, expenses, assets, taxes, and financial statement budgets. 
  • Automatic Production Cost Calculation: Key energy consumption (water, electricity, and gas) is automatically calculated based on standard production capacity information for each product SKU, eliminating the need for manual entry. Furthermore, power equipment overhaul costs are automatically allocated monthly according to headquarters' standard cycle. Raw material costs are also automatically calculated based on the BOM (Bill of Materials). 
  • Automatic Budget Preparation and Rolling Forecast: Responsible parties enter budgets online, and the system automatically performs calculations, allocations, and aggregation, significantly improving efficiency. Rolling forecasts can be quickly generated by copying historical data versions. 
  • Detailed Expenses Management: Specific modules manage logistics (standard logistics weight cost calculation), R&D (project budget control and tracking), investment (synchronized cash flow, asset, and depreciation budgets), and marketing expenses (activity-based budgets for brand, marketing, and media teams). General expenses are managed at the project level, with rate controls, early warnings, and reminders. 
  • Integrated Budget Analysis: The system integrates with peripheral business systems such as SAP, CRM, procurement, expense control, OA, and WeChat for Business, enabling actual vs. budget comparison analysis and execution tracking. - Automated Workflow: Budget preparation follows an automated workflow from submission to review, with final data automatically generating financial and analytical reports.
Outcomes and Benefits
  • Significantly improve efficiency and accuracy: Automated system calculations replace manual budgeting, improving accuracy and reducing budget preparation time from two months to three weeks. 
  • Enhanced budget management granularity: Company-wide participation enables granularity down to customers, SKUs, product categories, channels, and sales offices, far exceeding Excel capabilities. 
  • Data-Driven Business Improvement: Generate multi-dimensional profit and loss statements by product, category, channel, and region. Integration with SAP and other systems enables closed-loop budget management and drives business optimization.
Why Industry Leaders Choose EVOX
EVOX empowers organizations to lead with confidence, scale with speed, and innovate with resilience:
•    Proven at Scale: Over 500 successful deployments across 20+ industries, e.g., retail, manufacturing, pharmaceutical, banking & finance, auto, service sectors, etc.
•   Future-Proof Architecture: Cloud-agnostic deployment supports hybrid and multi-cloud environments, aligns with organizations’ evolving IT strategies.
•    Investor-Validated Excellence: Backed by IDG Capital, Sequoia China, and other leading global investors with over $60M in total funding, underscoring our long-term commitment to innovation and customer success.
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About EVOX
EVOX (owned by Espero Technology Pte. Ltd.) is the AI-powered Enterprise Performance Management platform, designed to seamlessly connect Data, Business Scenarios, and People to evolve organizations toward excellence. EVOX platform is featuring EVOX Budgeting & Planning, EVOX Consolidation, and EVOX SPM, empowers enterprises to:

•    Reduce monthly close cycles by over 40%
•    Elevate forecasting accuracy by over 95% confidence levels
•    Achieve 100% audit-compliant financial consolidation

Headquartered in Singapore with worldwide business coverage, EVOX continues to redefine EPM for organizations.