About Client
Sun King is a leading off-grid solar energy company operating across 12 countries with 350 shops and a network of 24,000+ agents. They provide solar home systems, lanterns, TVs, and clean cooking solutions through a pay-as-you-go (PAYG) model, serving both B2C customers directly and B2B partners, including retailers, microfinance institutions, telecoms, and NGOs. With over 65,000 PAYG solar systems sold monthly, Sun King has reached more than 1.3 million households across Africa and Asia.
The Challenge
- Manual Consolidation: Data collection and intercompany elimination are Excel-based, delaying balance sheet preparation and requiring use of prior-month data for MIS.
- Lack of Automation: “To-be Booked” entries rely on manual data sharing from the MIS team, with no system integration.
- Intercompany Inconsistencies: Unreliable intercompany eliminations complicate the separation of balances and demand significant monthly manual work.
- Manual Reporting: Multiple reports (audit, management, notes) are manually generated in Excel post-consolidation, increasing workload and risk of error.
Our Solution
- Streamlined the complex legal consolidation process by integrating SAP data into the Board GCR application, reducing data redundancy and enabling accurate intercompany reconciliation reports.
- Enabled automated FCTR (Foreign Currency Translation Reserve) calculations at the account level by setting up multiple currencies with corresponding translation rates.
- Developed a comprehensive solution for generating monthly financial statements in multiple formats immediately after the consolidation cycle.
- Significantly reduced manual intervention across consolidation and reporting processes.
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