SABMiller is planning to launch a new system that it said will simplify the collection of analysts’ forecasts of a company’s financial performance.

The drinks company said the system, Vuma Consensus, would make it easier for a company’s IR team to compare and contrast the models used by different analysts, to generate consensus data.

“I wanted a simpler and more transparent system,” Victoria Ferrier, the investor relations manager at SAB who came up with the idea, told Computerworld UK. Prior to Vuma, IR teams would gather analysts’ forecasts in different formats, such as email, spreadsheet attachments, or even over the phone, and then spend time inputting the data into their own systems.

She also told the Financial Times: “It was quite time consuming for [our] IR team to go to 12 to 16 analysts and understand their model.”

She added that differences between the models meant that existing consensus figures were not a “fair representation”.

Using Vuma Consensus, analysts can upload their most up-to-date forecasts to a template on a secure web-based platform provided by Vuma. They can then see other analysts’ estimates under the same metrics.

According to Ferrier, the system has been in development for around two years, and SAB’s IR team has been piloting it over the last few months.

“I’ve been using it, but always doing it with a quick manual check,” she said

Although SAB said that the system will remain anonymous and closed to the media at present, the system may open it up to investors and the media in future.

SAB plans to use the system for its interim results in November. It said that any company can sign up to the service, and that Tesco, Diageo and Anglo American have already registered their interest.