The verdict in three sentences
A group CFO consolidating 4 subsidiaries from Excel files emailed every Monday spends roughly two days a week producing numbers instead of analysing them. Power BI is cheap in licences, about EUR 14 per user per month, but needs EUR 10,000 to 25,000 of integration work to be reliable; a custom dashboard typically costs EUR 15,000 to 40,000 in Luxembourg. Either way, direct connections to the ERP and the banks bring consolidation down from 2 days to 10 minutes.
The hidden cost of Monday spreadsheets
In a Luxembourg holding with operating subsidiaries in Luxembourg, Belgium and France, each entity exports its trial balance, receivables ageing and bank balances, adjusts them its own way and sends a workbook to head office. The group controller stitches them together, fixes chart-of-accounts mismatches and chases late senders. The Tuesday executive committee works on week-old numbers, with copy-paste errors never fully removed.
| Indicator | Excel consolidation (estimate) | Connected dashboard | Effect |
|---|---|---|---|
| Weekly consolidation time | 2 days of controller time | 10 minutes of checks | -95% |
| Data freshness | D-7 | D-1, same-day cash | Decisions on recent data |
| Entry or paste errors | 2 to 4 per week | Near zero, automatic checks | Reliable committee packs |
| Overdue receivables by customer | Monthly view | Daily view by entity | Targeted credit control |
| Margins by product family | Quarterly | Weekly | Faster pricing decisions |
| CEO mobile access | Email attachment | Secure app | Reading on the move |
Power BI or custom build: the comparison
The choice depends mostly on the number of readers, the complexity of adjustments and the need for data entry. Power BI is an excellent visualisation tool; a custom app makes sense once you need to enter, approve or comment on data, or serve users who will not get a licence.
| Criterion | Power BI Pro with integration | Custom dashboard |
|---|---|---|
| Initial investment | EUR 10,000 to 25,000 integration | EUR 15,000 to 40,000 |
| Recurring licences | About EUR 14 per user per month, EUR 3,360 a year for 20 users | No per-user licence |
| Hosting and maintenance | Microsoft side included, data gateway to maintain | EUR 300 to 700 per month |
| ERP and bank connections | Gateway plus intermediate data warehouse | Purpose-built connectors |
| Entry, comments, approval | Limited | Full, with approval workflow |
| Mobile experience | Decent | Designed for the CEO and entity heads |
| Dependency | Microsoft 365 ecosystem | Source code owned by the group |
| Makes sense if | Team already on Microsoft 365, mainly analytical needs | Workflow needs, many readers, bespoke KPIs |
Over three years for 20 users, Power BI costs around EUR 17,500 of average integration plus EUR 10,080 in licences, about EUR 27,600. A custom build costs around EUR 27,500 plus EUR 18,000 of maintenance, about EUR 45,500. In Luxembourg, Power BI wins on cost unless you need workflows or have many more readers.
The KPIs to deliver first
| Block | KPIs | Source |
|---|---|---|
| Cash | Balances by bank and entity, 13-week forecast | Bank statements, ERP |
| Receivables | Outstanding, overdue at 30, 60 and 90 days, top 20 customers | ERP receivables |
| Margins | Gross margin by entity and product family | ERP sales and purchases |
| Inventory | Turnover, slow movers, stockouts | Inventory module |
| Activity | Revenue vs budget and vs prior year | ERP, annual budget |
Mini case study
Take Marc, CFO of a distribution holding in Luxembourg (illustrative case). His group controller, costing EUR 8,500 a month fully loaded, spends 40% of the time on consolidation, about EUR 40,800 a year. A Power BI setup at EUR 18,000 plus EUR 3,360 a year in licences frees that time for analysis. The project pays back in about six months on this item alone, before counting receivables: cutting average payment time by 5 days on EUR 60 million of annual sales frees about EUR 820,000 of cash.
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FAQ
Can Power BI connect directly to our ERP?
Yes, through a data gateway and often an intermediate warehouse that cleans data from the 4 entities. That layer accounts for most of the EUR 10,000 to 25,000 integration budget.
How long does a custom dashboard take?
Expect 8 to 12 weeks for a first scope covering cash, receivables and margins. Inventory and budget blocks can follow in 3 to 4 additional weeks.
Can bank data be pulled automatically?
Yes, under PSD2 Luxembourg banks expose account data to licensed providers, and MT940 or CAMT.053 files remain an option. Daily refresh is standard.
Who sees what in the dashboard?
Access is role-based: the CEO sees the group, each entity head sees their company. An access log records every view, which auditors appreciate.
Can we start with Power BI and move to custom later?
Yes, the warehouse built for Power BI can be reused by a custom app. That usually cuts the cost of the second step by 20 to 30%.
Let's scope your project. Number of entities, data sources, number of users and target date: we estimate your CFO dashboard, Power BI integration or custom build. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
