Greenland Ruby

‘Without Impero, we’d need 3 or 4 more staff’

How software helps this ruby mine simplify its compliance

At a glance

  • 200 employees + 5 countries
  • To gain a key industry certification, Greenland Ruby needed a better system than spreadsheets to document its practices
  • Using Impero & PowerBI saves 10 days a month in producing monthly management reports
  • Estimates that the time saved on annual transfer pricing audit is 100 hours

With Impero you don't feel overloaded.

Simon Lang, CFO – Greenland Ruby​ Tweet

About Greenland Ruby

In the world of mining precious gems, sustainability and ethical sourcing are as much a statement piece as the jewellery the treasures will one day form.

For Greenland Ruby – which specialises in mining the world’s most sustainably-sourced rubies – documenting and reporting its mine-to-market traceability is not just a nice-to-have, it’s essential to business.

As CFO Simon Lang explains, Greenland Ruby’s spreadsheets were no longer up to the job. Here are some of this company’s business benefits of the move from spreadsheet to software using Impero across compliance, tax and VAT, transfer pricing and auditing.

'Too big to manage in a spreadsheet'

“We used Excel spreadsheets to track our compliance activities for all the tasks in our tax and finance offices, but that was getting too much,” Simon explains.

“We were tracking all the financials and all the compliance in a spreadsheet, but then we became a member of the Responsible Jewellery Council – the first coloured gem miner to do so – and for that we must document that we have everything under control. This was too big to manage in a spreadsheet. That was when we knew we needed a control and compliance system.”

'It had to be online and smooth'

With a team located across five countries, Greenland Ruby sought a platform that is easy for its employees to use in different locations, and which gives management the data and validation it needs for auditing.

“I had used Impero in a previous company, so I knew its capability and I knew it was easy-to-use. At the same time, we were opening a new office in Thailand, in the US and in Paris, so we needed a system to help prepare the transfer pricing documentation and for tax and VAT,” Simon explains.

“So we knew it would be easy to copy and paste from one office to another when we have it set up in Impero, instead of building a new spreadsheet for each office.

“With Impero we get the full picture, and we don’t have to start over every time we set up a new company or entity.”

Greenland Ruby stones being analysed by jewellers

'It was so easy to get started'

Even though Simon had used Impero at a previous company, he says the onboarding and set-up by the Impero team helped him hit the ground running.

“I had obviously used it before, and it’s very easy to understand, but there had been some very good add-ons to the system since I had last used it,” he says.

“We showed the Impero support team the spreadsheets we were using for our compliance, for finance and for transfer pricing, and they more or less uploaded them overnight to Impero. It was so easy to get started.

“We then had a few hours of our own support to help us create our own controls and set them up in Impero, and now it’s easy for our employees to introduce new people to the system and show them how to create or submit controls.  

“With Impero you don’t feel overloaded. For each of the controls you can choose who to send it to, and to make sure that it’s going to the right person. Impero’s support team also helped us set up a status report in the overview, so we can follow up with the right people when we need to. That makes it very easy.”

'We now get the right data at the right time'

To finalise its internal reports – and to have confidence that its compliance practices have been followed properly – Greenland Ruby relies on Impero to deliver the right data at the right time.

Impero makes sure that we have the right data at the right time to finalise our internal reporting and to also do our auditing. We can have confidence that everything is updated, and we are not using numbers that have not been validated,” he explains.

“We now have time to analyse the data we have. That gives us time to come up with a solution on an issue. So instead of just gathering data, we now use data.” 

Impero has created efficiencies across many areas at Greenland Ruby.

“When we set up a new employee using our external IT system, that’s now a control that’s sent to the right person to make sure it’s all completed correctly. There are no flurries of emails back and forward anymore and it reduces the lag time for reports. And if I am sick or out on vacation, Impero can still send these controls automatically, so we stay on top of things,” he says.

'Impero saved us 100 hours on a transfer pricing audit'

With its system set up for success, Greenland Ruby now estimates an enormous saving on audit time for transfer pricing.

In our annual transfer pricing audit, having Impero set up to help us prepare the documentation across the organisation saved us about 100 hours,” he explains.

It’s not just transfer pricing that Impero saves Greenland Ruby significant amounts of time.

“For our Responsible Jewellery Council membership, it is getting so much simpler and easier to document. And then for our auditing, we can give the auditors access to all the controls they need to see – and that saves so much time and money,” says Simon.

Greenland Ruby says Impero also makes it easier for the auditor.

“We use controls more or less for everything, so there is less work needed on the sample testing by an auditor. We can show that it is correct, and it is consistent,” Simon explains.

 

Greenland Ruby stones

'We've reduced reporting time by 10 days a month'

Using Impero and PowerBI together also delivers substantial time saving for Greenland Ruby every month.

Before Impero and PowerBI we were using spreadsheets for everything. But using Impero and PowerBI, our reports are now down to five days a month instead of 15,” he explains.

“That gives us an enormous saving – and it’s now implemented in the five countries we are operating in.”

What would life look like without Impero?

If you ask Simon how processes would look without the insights, data and timesaving from Impero and inputs such as PowerBI, his answer is simple.

Without Impero, we’d need three or four more staff,” he says.

“The system is so easy to get going, with a good setup from the start. It doesn’t take many hours to learn how to use it, especially not for controls.

“We just inform our staff they will get an email from Impero with requests to complete controls, so they know it is a trusted source, and then it’s very easy for them to get the job done.”

Ready to see what Impero could do for you?

Whether it’s reducing the number of emails chasing someone for information, the confidence to know that your compliance processes are right or the time to analyse – not just collect data – there are countless business benefits of moving your compliance management from spreadsheets to software.

Ready to see what that would mean for your business?

Book a personalised demo to discover the ways you and your organisation can simplify compliance today.

‘Without Impero, we’d need 3 or 4 more staff’

How software helps this ruby mine simplify its compliance

200 employees

5 countries

Using Impero & PowerBI saves 10 days a month in reporting time

With Impero you don't feel overloaded.

Simon Lang, CFO – Greenland Ruby
  • To gain a key industry certification, Greenland Ruby needed a better system than spreadsheets to document its practices
  • Simon estimates that the time saved on transfer pricing is 100 hours
  • Using Impero and Power BI for reporting saves 10 days a month in admin time

About Greenland Ruby

In the world of mining precious gems, sustainability and ethical sourcing are as much a statement piece as the jewellery the treasures will one day form.

For Greenland Ruby – which specialises in mining the world’s most sustainably-sourced rubies – documenting and reporting its mine-to-market traceability is not just a nice-to-have, it’s essential to business.

As CFO Simon Lang explains, Greenland Ruby’s s were no longer up to the job. Here are some of this company’s business benefits of the move from spreadsheet to software using Impero across compliance, tax and VAT, transfer pricing and auditing.

‘Too big to manage in a spreadsheet’

“We used Excel spreadsheets to track our compliance activities for all the tasks in our tax and finance offices, but that was getting too much,” Simon explains.

“We were tracking all the financials and all the compliance in a spreadsheet, but then we became a member of the Responsible Jewellery Council – the first coloured gem miner to do so – and for that we must document that we have everything under control.

“This was too big to manage in a spreadsheet. That was when we knew we needed a control and compliance system.”

"We used Excel spreadsheets to track our compliance activities for all the tasks in our tax and finance offices, but that was getting too much."

Simon Lang, CFO - Greenland Ruby

'It had to be online and smooth'

With a team located across five countries, Greenland Ruby sought a platform that is easy for its employees to use in different locations, and which gives management the data and validation it needs for auditing.

“I had used Impero in a previous company, so I knew its capability and I knew it was easy-to-use. At the same time, we were opening a new office in Thailand, in the US and in Paris, so we needed a system to help prepare the transfer pricing documentation and for tax and VAT,” Simon explains.

“So we knew it would be easy to copy and paste from one office to another when we have it set up in Impero, instead of building a new spreadsheet for each office.

“With Impero we get the full picture, and we don’t have to start over every time we set up a new company or entity.”

'It was so easy to get started'

Even though Simon had used Impero at a previous company, he says the onboarding and set-up by the Impero team helped him hit the ground running.

“I had obviously used it before, and it’s very easy to understand, but there had been some very good add-ons to the system since I had last used it,” he says.

“We showed the Impero support team the spreadsheets we were using for our compliance, for finance and for transfer pricing, and they more or less uploaded them overnight to Impero. It was so easy to get started.

“We then had a few hours of our own support to help us create our own controls and set them up in Impero, and now it’s easy for our employees to introduce new people to the system and show them how to create or submit controls.  

“With Impero you don’t feel overloaded. For each of the controls you can choose who to send it to, and to make sure that it’s going to the right person. Impero’s support team also helped us set up a status report in the overview, so we can follow up with the right people when we need to. That makes it very easy.”

'We now get the right data at the right time'

To finalise its internal reports – and to have confidence that its compliance practices have been followed properly – Greenland Ruby relies on Impero to deliver the right data at the right time.

 

Impero makes sure that we have the right data at the right time to finalise our internal reporting and to also do our auditing. We can have confidence that everything is updated, and we are not using numbers that have not been validated,” he explains.

 

“We now have time to analyse the data we have. That gives us time to come up with a solution on an issue. So instead of just gathering  data, we now use data.”

 

Impero has created efficiencies across many areas at Greenland Ruby.

 

“When we set up a new employee using our external IT system, that’s now a control that’s sent to the right person to make sure it’s all completed correctly. There are no flurries of emails back and forward anymore and it reduces the lag time for reports,” he says.

 

“And if I am sick or out on vacation, Impero can still send these controls automatically, so we stay on top of things.”

'Impero saved us 100 hours on a transfer pricing audit'

With its system set up for success, Greenland Ruby now estimates an enormous saving on audit time for transfer pricing.

In our annual transfer pricing audit, having Impero set up to help us prepare the documentation across the organisation saved us about 100 hours,” he explains.

It’s not just transfer pricing that Impero saves Greenland Ruby significant amounts of time.

“For our Responsible Jewellery Council membership, it is getting so much simpler and easier to document. And then for our auditing, we can give the auditors access to all the controls they need to see – and that saves so much time and money,” says Simon.

Greenland Ruby says Impero also makes it easier for the auditor.

“We use controls more or less for everything, so there is less work needed on the sample testing by an auditor. We can show that it is correct, and it is consistent,” Simon explains.

 

'We've reduced reporting time by 10 days a month'

Using Impero and PowerBI together also delivers substantial time saving for Greenland Ruby every month.

Before Impero and PowerBI we were using spreadsheets for everything. But using Impero and PowerBI, our reports are now down to five days a month instead of 15,” he explains.

“That gives us an enormous saving – and it’s now implemented in the five countries we are operating in.”

What would life look like without Impero?

If you ask Simon how processes would look without the insights, data and timesaving from Impero and inputs such as PowerBI, his answer is simple.

Without Impero, we’d need three or four more staff,” he says.

“The system is so easy to get going, with a good setup from the start. It doesn’t take many hours to learn how to use it, especially not for controls.

“We just inform our staff they will get an email from Impero with requests to complete controls, so they know it is a trusted source, and then it’s very easy for them to get the job done.”

Ready to see what Impero could do for you?

Whether it’s reducing the number of emails chasing someone for information, the confidence to know that your compliance processes are right or the time to analyse – not just collect data – there are countless business benefits of moving your compliance management from spreadsheets to software.

 

Ready to see what that would mean for your business? Book a personalised demo to discover the ways you and your organisation can simplify compliance today.