British Steel was bought by leading Chinese multi-industrial company Jingye Group in March 2020.
The company operates 18 blast furnaces, producing 15 million tonnes of steel annually and exports to 80 countries around the world.
Based in the Hebei province in China, Jingye had total sales of RMB 90.1 billion (approximately £10.1bn; €11.7bn) and employs 23,500 people. It also has operations in chemicals, hotels, real estate, and trade.
IBL took a leading role in managing key finance led projects as well as assisting with core functional activities, developing propositions, and providing guidance to senior management.
Even a business as adept at steel success as British Steel can refresh its approach to performance reporting and functional activities. Previously, the company’s finance team was in India.
IBL led an ambitious program to train the newly formed finance SSC team in China combined with management team based in Scunthorpe (UK) which now delivers far more effective analytics and insights to the business with greater efficiency.
Together, we introduced several standard operative procedures across P2P, O2C and MDM modules and we implemented new technology to increase Cash Automated Allocation, Reporting and Credit Control. This fresh approach brought renewed sparkle to business performance, accompanied by cost saving.
IBL provided process efficiency, delivering training on SAP & process flows, system development and ensuring projects are delivered on time & to budget.
We know how to get things done.