Expert contributions from the Exhibitors at the ICV Congress of Controllers
The first business intelligence application in 48 hours: zwissTEX, the Swabian manufacturer of high-tech textiles, has done it. With the help of Bissantz ERP solutions for SAP data, a comprehensive KPI landscape for controlling corporate finances was created - and integrated planning.
zwissTEX was looking for a software solution that transfers the data from SAP modules such as SD, FI, MM and PP into efficient reporting. The solution should map the financial and business goals with meaningful KPIs quickly and with little effort and measure the achievement of goals.
Trusting in Bissantz's performance promise, CEO and CFO Dr. Ulrike Neubauer made the project a top priority: “SAP landscapes can be cumbersome. I was skeptical as to whether something could really be added on top of that so quickly – but Bissantz kept the promise.” The linchpin of the solution is the Bissantz ERP Solutions, a tool for the automated creation of ready-to-use, packaged business intelligence systems. Bissantz delivered the first reporting application in just two days.
Soon analytical applications for the areas of logistics, sales and finance were created: from stock levels and ranges to product groups and bills of materials to contribution margins and profitability calculations. After only six months, the desired KPI landscape had taken on a concrete form - and can also be used on the smartphone with the Bissantz DeltaApp.
One of the first applications: the receivables monitor on the smartphone, with interactive access to perspectives such as debtor, product line, due date/dunning level and even the invoice items.
Parallel to the development of the KPI landscape, Bissantz zwissTEX supported the P&L planning: In the sense of an integrated planning, the cost planning in the nature of expense method was merged with the sales planning on sales objects. The specialist departments plan their cost centers and cost types in SAP, while Sales plans sales and turnover in Bissantz. The sales plan data for customers, articles or sales areas are in turn supplemented with the article calculation from SAP. The integrated planning profit and loss statement in Bissantz results in concrete targets for corporate management - the loop of planning, analysis and reporting is closed.
"From many years of experience, I am well aware of the possibilities and limitations of software in corporate management," explains Neubauer. "I was really surprised that such increases in information quality are possible in such a short time!"
One of the first applications: the receivables monitor on the smartphone, with interactive access to perspectives such as debtor, product line, due date/dunning level and even the invoice items.
Parallel to the development of the KPI landscape, Bissantz zwissTEX supported the P&L planning: In the sense of an integrated planning, the cost planning in the nature of expense method was merged with the sales planning on sales objects. The specialist departments plan their cost centers and cost types in SAP, while Sales plans sales and turnover in Bissantz. The sales plan data for customers, articles or sales areas are in turn supplemented with the article calculation from SAP. The integrated planning profit and loss statement in Bissantz results in concrete targets for corporate management - the control loop of planning, analysis and reporting is closed.
"From many years of experience, I am well aware of the possibilities and limitations of software in corporate management," explains Neubauer. "I was really surprised that such increases in information quality are possible in such a short time!"
Whether business intelligence is effective is decided in the last mile: all the effort involved in collecting, storing and processing data is in vain if reports are not read or understood or not acted upon. Based on universal standards for reporting and analysis, Bissantz solutions provide signals that convey deviation and control information faster and more clearly than ever before.
Automated, flexible, fast
DeltaMaster, our main product, achieves a high degree of automation through integrated AI modules. The standard reports for success control, deviation analysis and preview that every company needs can be created in just a few minutes with DeltaMaster. DeltaMaster contains numerous business management methods for the ad hoc analysis. With data mining methods suitable for business users, DeltaMaster supports analyzes in which the question should arise from the data itself. In DeltaMaster, planning is closely linked to reporting and analysis and can be used on the same interface.
We developed the DeltaApp specifically for mobile management reporting. It compresses data navigation, analysis of deviations and comparison of key figures onto the screen of a smartphone - and it does not require any charts.
If desired, Bissantz can take over the BI project as a service provider and integrate pre-systems and external sources. We maintain planning systems worldwide and support local self-service. We let you do it or we do it for you. We master the common interfaces and we know the typical applications with SAP, Microsoft, Oracle, Salesforce, Datev and IBM.
Human centered BI
Even customers who already have everything take Bissantz. Because we close the gaps: between man and machine, between ERP and BI, between IT and management, between departments and board of directors, between PC and smartphone, between planning, analysis and reporting, between reason and feeling - and between aspiration and reality.
Why do companies rely on the program to collect information despite advanced technologies - and what better alternatives are there?
In economically uncertain times, it is becoming increasingly important to make decisions based on well-founded data. The ongoing changes in the business environment require the rapid availability of the database to ensure sufficient time for a comprehensive data analysis, which serves as the basis for well-founded decisions. The underlying data can be divided into two categories. On the one hand, there is transactional data or system-generated data, which is normally already structured in the organization's internal data warehouses and can be queried promptly. On the other hand, there is the category of manually generated data.
Improve your data collection processes with colea. The platform helps you to avoid time-consuming, error-prone and manual consolidation of data from Excel spreadsheets. colea offers a quick and easy way to collect data from different departments and subsidiaries and make it available for analysis. Automate the collection of monthly, weekly or ad hoc reports from the areas of finance, human resources, sales, purchasing or production and thus free up valuable time for analysis. Keep track of the status of submissions and avoid errors and delays. Our platform focuses on collecting internal data and offers interfaces to many leading reporting and analysis tools.
To the company page
As part of an (existing) business model, pricing is of paramount importance when it comes to improving the operating result. What a company, with a given sales, does not generate in terms of earnings through pricing can hardly be achieved through cost reductions. As controllers, we are not primarily responsible for pricing. We provide support with the calculation, determine target profit margins and calculate the necessary target or minimum sales prices in order to cover costs and achieve a target result.
The sales prices are set in the sales, marketing or management departments. As economic advisors and sparring partners, it is the task of the controller to argue for sufficiently high sales prices and, above all, to ensure economic transparency. A seller must be aware of how much, for example, a discount “smashes” the result. This is to prevent discounts from being given too easily. Competence regulations or a contribution-margin-oriented remuneration also have an important influence on this.
Controller Magazin provides you with first-class specialist information for your day-to-day controller practice! Every 2 months you can find out what the latest developments are, which topics concern your colleagues and which practical tools you can use to make your daily work much easier.
Language is German.
Short interview with Samuel Schössel, Head of Controlling at STRÖER Dialog Group GmbH, about the introduction of the CP cloud solution in the company:
What was the situation at the beginning?
As a result of company acquisitions, we had four subsidiaries in 2018, each with different SQL servers, charts of accounts, cost center structures, posting logic and much more. Our requirement was to bring everything together under the same premises on a platform in order to get a uniform financial picture as a group. We succeeded with the CP cloud solution.
What are the highlights for you?
The interaction between CP as a service provider and Saxess as an integrator was a real highlight. The cloud solution itself was set up within a few hours - super convenient for us. All we had to do was communicate the link and we could get started immediately, regardless of different networks and structures in which our people work. The system itself scores with an intelligent structure that helps to display numbers transparently.
What are your lessons learned?
When it comes to software investments, every medium-sized company is faced with the decision of what is more important to it: flexibility or fixed structures. We have decided to take a solution that already comes with financial structures. We don't have to teach the machine how to calculate cash flow, just bring in our data and we're ready to go.
Corporate Planning has offered user-friendly software for corporate management in medium-sized companies for over 30 years. The solutions for operative planning, integrated financial and success planning as well as consolidation (certified according to IDW PS 880, IDW RS FAIT 1 and IDW RS FAIT 4) have received numerous awards and run on a technological platform.
Whether in the cloud or on-premise: The Corporate Planning software with in-memory technology can be implemented quickly, regardless of company size and industry. More than 100 interfaces allow all relevant data to be included at any time. If values change in one of the previous systems, these are automatically taken into account.
The self-service approach for flexible planning, modern analyzes and individual reporting is based on the principle of the "single point of truth". Each piece of information is only available once and can be traced back to its origin from each factual reference. The uniform database ensures transparency and enables automated planning approaches for forecasting, ad hoc analyzes and real-time reporting according to IBCS at the push of a button.
Main areas of activity
Corporate Planning develops its software 100% in Germany. The advantages include maximum performance and security, but also comprehensive support, a wide range of training courses and local contacts.
The company, headquartered in Hamburg, has 130 employees and is represented at nine other locations in Germany, Austria, Switzerland, England and the Netherlands. In addition, a strong national and international partner network ensures that the Corporate Planning software is used successfully worldwide.
More than 4,000 medium-sized companies from a wide variety of industries trust the Corporate Planning software, including Hellmann Worldwide Logistics, Privatmolkerei Bauer, Julius Meinl, Deutsche Flugsicherung and Drykorn.
Author(s): Jasmin Miriam Franken and Maria Jose Morales Duran
The increasing relevance of ESG has consequences for the CFO areas: the reporting effort and quality controls are increasing significantly and are subject to a certain dynamic. The EU recently tightened the reporting requirements and the group of companies that are required to report is being significantly expanded. We provide an overview of how CFO areas can meet the short-term reporting requirements and what strategic implications are possible.
Almost half of German companies want to be climate-neutral by 2030. This is shown by Bitkom's survey of 506 companies on the subject of sustainability and the use of digital technologies.
The need to deal proactively and preventively with ESG criteria (environmental, social and corporate governance) as a company also applies to the CFO and their finance department. The number of regulations and standards and their characteristics are more dynamic than ever. For SMEs and non-capital market-oriented companies in particular, ESG reporting obligations are becoming more important, driven by various internal and external drivers.
Detecon International GmbH
Detecon is a leading, globally operating management consulting company with headquarters in Germany, which has been combining classic management consulting with high technological competence for over 40 years. The focus of its activities is on digital transformation: Detecon supports companies from all areas of business to adapt their business models and operational processes to the competitive conditions and customer requirements of the digitalized, globalized economy with state-of-the-art communication and information technology.
Detecon's expertise bundles the knowledge from the successful conclusion of management and ICT consulting projects in over 160 countries. Detecon is a subsidiary of T-Systems International, one of the world's leading vendor independent providers of digital services and subsidiary of Deutsche Telekom.
On January 5, 2023, the EU Corporate Sustainability Reporting Directive CSRD officially came into force. This marks the dawn of a new era in corporate reporting on non-financial aspects. The CSRD guideline extends the Non-Financial Reporting Directive (NFRD) in order to successively replace it. As a result, the requirements are increasing and the number of companies affected is growing. In addition, 87% of investors in a PWC survey confirm that investment decisions are made dependent on how companies manage ESG risks and opportunities.
To support decision-making with regard to the opportunities and risks of the company, the ESG areas can be broken down as follows:
Due to the complexity of the data on which ESG reporting is based, a systematic collection of all necessary information (data management) is required. This complexity requires strategic data management, especially with a view to the resulting opportunities for companies. With the help of CPM software, data from the different areas can be combined. Whether through data entry forms on the web, with the help of interfaces to a pre-system or by uploading ready-made templates.
Data preparation and analysis
As a management element for the company, ESG data can also be used very well to pursue and successfully implement corporate strategies. Looking ahead, ESG data can not only be evaluated and presented, but also planned and used for management in order to generate material added value from the data.
Considering the possibilities of this forward-looking view, CPM tools like CCH Tagetik support companies in possible scenario planning. Using scenario or driver-based planning, the underlying standards can have an enormous impact on future integrated planning.
As previously mentioned, ESG reporting will add complexity to data management, analysis and reporting. In a currently volatile ESG environment, it can only be guaranteed with the help of CPM software that the standards required for the management report are met.
drjve AG, based in Cologne, Berlin and Hamburg, is a consulting company with expertise in the areas of business intelligence, corporate performance management and analytics. We support our customers end-to-end from conception and design to implementation and operation of CPM, BI and analytics solutions.
MEDIQON Group AG brings talent and market opportunities together and invests in attractive companies in the DACH region. The consolidation of your consolidated financial statements takes place with elKomKONS group consolidation.
MEDIQON Group AG invests in attractive companies in the DACH region. The holding company follows a decentralized organizational approach - the company investments usually take place via subsidiaries of MEDIQON Group AG, the investment platforms.
Since the first investment in 2019, the group has grown successfully and today comprises 23 operating companies and has achieved a market capitalization of around 170 million euros on the stock exchange.
Consolidating 40 individual companies into one consolidated financial statement?
The restructuring of the business model and the strong growth in recent years have resulted in new requirements for the financial management of the MEDIQON Group. In particular, with the increasing number of investments, the consolidated financial statements for the listed AG should be prepared for the first time in 2021. That is why Marlene Carl, CEO of MEDIQON Group AG, started looking around for a software solution for group consolidation in 2020. A few months later, she opted for the elKomKONS group consolidation solution.
The 2021 consolidated financial statements of the MEDIQON Group included - with all intermediate acquisition companies - a total of 40 companies, and the trend is rising. Carl had to record this large number of units in a short time. They needed consolidation software that could reasonably process the sheer volume of annual results - and didn't want to shine by depicting all eventualities. "What convinced me about elKom was that the solution can be customized and does not require us to fill out fields that are not relevant for our purposes." However, extensions are possible at any time.
Whether as a managing director, top manager or controller, everyone is looking for an easy-to-use, cost-efficient business intelligence solution that can be used to quickly obtain information relevant to decision-making. They want to make their corporate planning more transparent and automate group consolidation and reporting and continue to use Microsoft Excel as an analysis and reporting tool.
elKomSolutions offers its customers a holistic, modular software platform for analysis, reporting, planning and group consolidation based on IBM Planning Analytics TM1 and Longview Analytics.
Thanks to consistent OLAP technology, dynamic Excel connection and seamless web integration, customers benefit from maximum flexibility and convenient operation. The BI tools for corporate planning (elKomPLAN) and group consolidation (elKomKONS) are based on reference models, but can also be adapted to individual requirements.
elKomSolutions has been using a holistic approach and an integrated, modular complete solution since 1997. The focus is on the OLAP database IBM Planning Analytics TM1 with particularly short response times. This approach pays off for both large corporations and medium-sized companies. Thanks to fast implementation and minimal training effort, you will already benefit from the advantages of the solutions after a short time.
You can find more information (German) on: www.elKomSolutions.de
Autors: Ronald Gleich, Nils Gimpl, Uwe Kowatz, Nils Knierim
Due to a more complex corporate environment, which, among other things, has resulted in completely new business models due to new customer preferences and the accumulation of crises (COVID-19 pandemic, energy crisis in Europe), there have been increasing decentralization tendencies in individual business areas in various industries and companies. This also has an impact on the design of controlling. The focus is on the following questions: How should effective controlling be set up? What problems does decentralized controlling face? What possible influence does the degree of standardization or digitization have on the effectiveness of decentralized controlling in particular?
Initial answers to these questions are provided by the results of the study "Controlling Organization of Decentralized Units" conducted by the Centre for Performance Management & Controlling of the Frankfurt School of Finance & Management in cooperation with eight European partners from Germany, Croatia, North Macedonia, Poland, the Czech Republic, Hungary and Austria. A total of 246 companies or decentralized units took part in the online-based survey.
In the following, the challenges and the possibilities of increasing the effectiveness of decentralized controlling through digitization and standardization are discussed and some recommendations for action are given in practice.
Problems of decentralized controlling
The study identified several problems of decentralized controlling, three of which should be briefly outlined (see Fig. 1):
- 38% of the companies see a central problem in the fact that requests and suggestions from decentralized controlling with regard to guidelines and standards are rarely taken into account in group-wide standards. This makes successful work "on site" more difficult and reduces the actually intended advantages of decentralization, such as flexibility, speed of action, information advantage, etc.
- 31% of the companies believe that guidelines and standards from centralized controlling are not very suitable for the decentralized controlling of the business units and that management is therefore more difficult to implement.
- Almost a third of those surveyed (30%) also point out that there is an unclear separation of responsibilities, roles and tasks between central and decentralized controlling. Disputes regarding competencies or reporting channels are therefore inevitable. Furthermore, this can result in duplication of work, but also loss of information between the central and decentralized units.
End of excerpt. Read the complete article in the free PDF (language: German): DOWNLOAD THE COMPLET ARTICLE HERE (PDF DOWNLOAD)
The Frankfurt School of Finance & Management is one of the largest and most research-intensive business universities in continental Europe. With 70 members, its economics faculty is one of the most powerful in Germany. It belongs to the small circle of "Triple Crown" accredited universities of excellence: The exclusive international triple accreditation (AACSB, AMBA, EQUIS) is an international seal of quality and stands for excellence in teaching, research and related services for all stakeholders - i.e. not only students but also alumni and friends in business, politics and society.
The Frankfurt School specializes in finance, economics and management topics and offers bachelor's, master's, MBA and doctoral programs as well as executive education and seminars for specialists and managers as well as for trainees. It regularly achieves top positions in renowned university rankings. In the current European Business School Ranking of the Financial Times (FT), it ranks 26th, in the Times Higher Education Global University Employability Ranking it is listed as the best German business school. In addition, in 2022, the FT ranked the Frankfurt School’s Master in Management 38th place and the Master of Finance 27th place worldwide.
As a business school, the Frankfurt School explicitly integrates theory and practice in all educational programs: Representatives from business, politics and society speak regularly at teaching and extracurricular events. In research, too, the scientists address urgent, relevant issues; their results are published in leading international peer-reviewed journals, taken up by the business press or discussed with decision-makers from the field.
In addition, the Frankfurt School develops and implements training and consulting projects in developing and emerging countries. One focus is on sustainability issues and their financing, which the faculty also researches. Furthermore, the "Sustainable World Academy" was launched; the online offers address the "UN Sustainable Development Goals" (SDG) and provide specialists and managers with the skills they need to implement the potential of the SDGs in business.
In addition to the Frankfurt campus, the Frankfurt School has study locations in Hamburg and Munich as well as offices in Ankara, Amman, Brussels, Dubai, Istanbul, Nairobi and Beijing. With over 125 partner universities, it is a globally networked business school.
Tables and charts show business information in dashboards and analytical application actions. Some easy to understand, some less impressive. But do we have a comprehensive understanding of what is really happening with these tools? Isn't something crucial missing to turn these facts into a real "story"?
We think: a text!
There is no provider of analytics applications who does not take up the cause of the (buzz) word "storytelling". In addition to pictures and numbers, a real story also includes text: text that explains, justifies or makes recommendations.
In many customer projects over the past few years, we have experienced just how great the desire is to integrate text into stories and dashboards. And we were able to experience how diagrams and text were brought together manually in PowerPoint at the end of a reporting process - manual storytelling.
With the graphomate comments for SAP Analytics Cloud (SAC) we show that there is another way. Dynamically capture text in charts and tables (cells) or overarching messages and explanations on a dashboard page. These are filed according to your filter context and displayed again.
We distinguish three types of comments, which are visually highlighted in color in the example dashboard below:
- Standalone comments via its own custom widget. Capture texts for an entire page according to the selected filter status.
- Data point comments to explain individual data values in the graphomate charts, the graphomate matrix or the graphomate bubbles. These are indicated by an orange icon and the comment is displayed in a pop-up window.
- Visualization comments that can be maintained as a title or footer for the graphomate charts, graphomate matrix or graphomate bubbles.
The graphomate comments have an administrator workbench for maintaining calculations and managing the comments that have been set. They use their own database to store comments.
We are currently implementing an extended authorization concept based on entities. In the future, we will also implement a workflow that allows commenting processes to be planned, predefined and queried.
We would be happy to show you the graphomate comments for SAP Analytics Cloud live at the Congress of Controllers 2023.
graphomate GmbH is a software provider from Kiel, founded in 2010, with a clear goal: to offer report recipients simple and clear visualizations that support the decision-making process in a way that is rich in information and easy to understand.
graphomate develops visualization extensions for Power BI, Tableau, SAP Analytics Cloud (SAC) and other SAP analytics tools - but also for Microsoft 365.
The graphomate suite is certified according to the International Business Communication Standards (IBCS®). It is the only certified software that enables uniform and standardized visualizations for multiple BI providers.
With the new development, the graphomate comments, graphomate is presenting a commenting solution for the SAC at the ICV Congress of Controllers 2023.
With more than 150+ customers and around 60,000 users, graphomate meets a wide range of reporting requirements from all industries.
Who does not know them? So-called "reports" which are mostly "statistics" and come along without meaningfulness and added value. The one constant that keeps coming back is that nothing repeats itself. Each report, each presentation of numbers is always an individual work of the creator. Strange, because so much in the corporate world these days follows a standard. But we also find uniform specifications outside of our everyday work, some of which are even understood worldwide. Such as traffic signs or scores, architect plans or road maps.
However, a comprehensible and uniform report notation and presentation of company figures is rarely considered. The figures from a BI system are a central component of corporate management. And yet it seems as if everyone is allowed to follow their own ideas in order to present the management with the basis for decision-making.
A report that looks good is not always a (good) report
But how do you come to a definition of how reports and presentations should best be presented? Prof. Dr. Rolf Hichert and Dr. Jürgen Faisst asked a few years ago and answered them with the "International Business Communication Standards (IBCS®)".
The IBCS® consist of an extensive notation manual based on the SUCCESS set of rules. The acronym SUCCESS stands for:
- Say -> Get the message across
- Unify -> Unify meanings
- Condense -> Condense information
- Check -> Ensure quality
- Express -> Visualize correctly
- Simplify -> Avoid clutter
- Structure -> Organize content
By adhering to these rules, you are now able to create a unified reporting system that every employee can read, interpret and understand.
The HICO Group is one of the best-known business intelligence consulting firms in Germany and Switzerland and on the software side with KPI-CHAT is the world's leading company for data point-precise collaboration solutions.
1. Business Intelligence Consulting
The BI experts and data management consultants of the HICO Group design, plan, implement and integrate 4th generation business intelligence systems across sectors and functions. The focus areas are planning, data & cloud and analysis, the lead consultants of the three departments are among the most experienced experts in the DACH region.
In partnership with the market-leading software manufacturers JEDOX®, QLIK®, MICROSOFT® (POWER BI®) and TimeXtender®, the internal value-added processes are significantly improved. With ROKS®, the result-oriented KPI system, success-relevant KPIs are derived from corporate strategies, processed with best-in-class planning, data estate and analysis tools and with maximum transparency and easily understandable visualizations according to IBCS® standards (International Business Communication Standards) issued. This data forms the basis for previously unattainable valid decision-making bases for management in the present and in the future.
2. Software: TRUECHART and KPI-CHAT
With TRUECHART, the HICO Group offers a scalable and modular, cross-platform business intelligence tool that optimizes data collaboration processes and the visualization of management data in IBCS format in individual dashboards. TRUECHART integrates with QLIK®, Microsoft® (PowerBI and Excel), JEDOX® and other ERP systems via its API.
The new software KPI-CHAT enables users to collaborate directly on data points intuitively and in real time. This improves decision-making processes, as all information remains within the BI system, while at the same time there is the possibility of filtering according to different business scenarios. And it combines data spaces with information spaces, increasing the value of shared analysis. The chats that take place at the data points are saved locally and thus make the BI system auditable.
HICO Group's headquarters are located in Zurich, Switzerland, with 8 branches and offices in Germany, Singapore, South Africa and own software development teams in India.
In addition to large corporations from the automotive and chemical industries, the customer base of the HICO-Group also includes financial service providers and well-known medium-sized companies. A long-standing partnership with BMW, Siemens, the LSG Group, Sulzer, Gruner, Mitsui Chemicals, Stadler and Norvatis speak for the HICO Group, Sikla, Liebherr and Assa Abloy are also among their customers, who may be named here such as Deutsche Accumotive and Check24.
Outstanding projects speak for themselves:
- Mitsui Chemicals: the HICO Group implemented an AI-based Jedox planning solution. “With Jedox AIssisted™ Planning, we can plan in a level of detail that was previously not possible. With the AI engine, we achieve very precise forecast values - and see a lot of potential for further optimization and automation here." Sascha Geng, Director of Performance Controlling
- Gruner AG: the HICO Group implemented a comprehensive Jedox planning solution. "Just two months after the start of the project, the experts from the HICO Group had our sophisticated planning solution ready for use. The system manages 6,000 ongoing projects, which are evaluated monthly by around 400 project managers who track project status, costs, revenues, material requirements, etc.” Michael Städtler, Business Intelligence Manager
- Sulzer AG: the HICO-Group designed and implemented a comprehensive process optimization. “Now we can get consolidated information in the right format to the right people - from senior management to front line departments - everyone can see from the big picture at the top level down to the transaction level. We have optimized our processes along the entire value chain.” Steffen Lange, Head of Business Intelligence
- Qiagen: the HICO Group designed and implemented a QLIK analysis solution including dashboard and TRUECHART visualization. The efficiency of reporting has increased significantly: Daniel Grünebaum estimates the time savings to be up to 70 percent, and performance has also improved significantly: "We can now easily load all transactional data from the last five years for sales analyzes and still analyze it efficiently." Daniel Gruenebaum, Senior Director Controlling
- PPRO GmbH: the HICO Group designed and implemented a comprehensive Jedox planning solution. “With the Jedox Cloud we manage the ever-increasing complexity of our planning, reporting and analysis. With automation, global availability and timely, accurate results, nothing stands in the way of our rapid growth.” Philipp Rosenthal, Senior Manager FP&A
- SIEMENS Smart Infrastructure: the HICO Group designed and implemented a QLIK analysis solution including dashboard and TRUECHART visualization. “When I first saw TRUECHART I was impressed. It fits perfectly with my procurement BI strategy and allows me more time for the operative business.” Nicolas Michel, Product Manager Procurement, Procurement Controller
Companies and their planning processes are becoming increasingly complex. At the same time, our world is becoming increasingly insecure. As companies grow and develop more complex organizational structures, the complexity of the financial systems required to manage them increases, while the amounts of data involved grow exponentially.
Despite investments in various company divisions, the budgeting and planning processes are often still manual and outdated. Companies have to make important decisions when choosing a suitable tool.
The solution lies in the implementation of a single, integrated platform that creates a single point of truth by linking data from existing systems. This approach increases accuracy, reduces risk, and encourages broader participation in financial processes by streamlining planning, consolidation, reporting, and analysis.
With insightsoftware, corporate planning becomes part of the overall financial performance management. In addition to the integration of operational planning into financial planning, the plan data is also consolidated into a group plan and the plan is compared with the actual figures in the consolidated financial statements, which are created in the same system environment. The uniform data management of plan data and actual data creates a single point of truth for all financial data. This makes reporting and analysis faster and less error-prone.
insightsoftware's planning software is as easy to use as a spreadsheet and guarantees reliable, comprehensive and efficient planning figures. You can read of the advantages of IDL Forecast and IDL Designer for business planning HERE in this brochure (in German).
The user ratings in BARC's Planning Survey 22 once again confirm insightsoftware's powerful software. insightsoftware is proud of seven top rankings and 16 top positions in three different peer groups. All highlights from the survey to be downloaded HERE from the website (in German).
Choosing the best financial planning tool for your needs requires careful consideration and asking the right questions. However, it can be difficult to know what to look for. The white paper (in English) HERE provides valuable insights and information to help make informed decisions.
insightsoftware is a leading provider of reporting, analytics and performance management solutions. More than 32,000 companies worldwide rely on us to meet their business needs across accounting, finance, operations, supply chain, tax, budgeting, planning, HR and disclosure management. We enable the CFO staff to access and analyze the data they need to proactively provide better financial information across the organization. Our industry-leading solutions enable our customers to be more productive, transparent, accurate and legally compliant.
Excel is widely used in everyday work life in finance and accounting fields. However, the use of Excel should be questioned due to its susceptibility to errors and time-consuming verification methods. Typing errors, transposed digits and incorrectly entered formulas are part of everyday life, which is intolerable for companies in accounting. Errors in formulas and macros can go undetected for a long time, and the clarity can quickly suffer as the number of tables increases. In addition, Excel is not designed as a database, which can affect data security. Manipulations cannot be prevented without the course of the test. For these reasons, the use of Excel can be a real obstacle to growth.
To ensure efficiency in accounting, the use of software is recommended. Automation of processes reduces manual input and minimizes the risk of errors. In addition, the software can ensure compliance with legal requirements and legal specifications. Excel, on the other hand, cannot meet these requirements.
In addition to the advantages of efficiency and legal certainty, a software solution also enables greater transparency and reliable tracking of expenses. Fulfilling the requirements in accounting is of great importance for companies to be able to operate successfully in the market. This includes not only answering questions about corporate finance and the income statement, but also providing information on corporate development, financial strategy and risk management in order to be able to make operational and strategic decisions.
Excel-based workflows are reaching their limits with new regulatory requirements and shorter closing and reporting cycles with ever-increasing amounts of data. Modern software solutions are required to process and analyze data in real time. This is the only way that finance departments can continue to work efficiently in the future and meet all requirements.
The accounting software from LucaNet offers reliable coverage of all areas of responsibility in the finance department, from the preparation of consolidated financial statements to the preparation and transmission of the tax balance sheet.
LucaNet is an international software provider for consolidation, planning and reporting. We stand for reliable products, developed by a team of unique talents with a deep understanding of our customers' needs.
Our mission? Making life easier for finance leaders so they can focus on what matters most: minimizing risk, driving sustainable growth, and making effective business decisions.
Our user-friendly corporate performance management platform for finance is precisely tailored to the requirements of CFOs, group accountants and controlling and provides comprehensible and valid figures. And that within a very short time.
We have come a long way with our approach of rethinking finance. 5,000 customers in 50 countries have trusted LucaNet for more than 20 years. Wherever reliable financial data is required, we are there. Together with our partner network, we offer the most innovative technologies and unique support worldwide. Right at the top of our agenda: A product that brings real benefits every day.
Would you like to shorten your planning cycles and increase forecasting accuracy?
Would you like to reduce the complexity of your budgeting process and speed up your processes?
Then you should definitely read this article on digitization in controlling:
Why digitization in controlling is turning the workload pyramid upside down (please click on the image) – article in German
Let's assume the (very likely) assumption that controllers prefer to focus on value-adding activities, such as analysis and recommendations, instead of manual data collection and finding formula errors. In order to achieve this, time-consuming, repetitive tasks, e.g. in the area of data preparation, must be reduced to a minimum through automation and standardization. The "pyramid of controlling activities" (Figure 1) must therefore be reversed.
A complete reversal can only be achieved by using professional corporate performance management and BI tools (controlling software). Business models and logics that are already included enable rapid implementation (from 6 weeks to an average of 3 months) and rapid independent work in the system. Professional tools can be flexibly adapted to company requirements. The result: Simpler, leaner processes, higher-quality data and a focus on value-adding controlling activities. "We save 450,000 euros p.a., a lot of time and a lot of nerves," calculates Arbi Arak’s Head of Controlling at List GC, for example, after the introduction of the smartPM controlling solution (you can find the exact calculation in „Controlling Technical Discussion” – List GC Case Study – in German). The former Head of Projects at Hamburg Airport, Julian Jirsak, also speaks of savings in the millions.
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smartPM.solutions = smart corporate management by controllers for controllers
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Simply choose from the modular system of the smartPM product family: Integrated financial planning, management of project portfolios, planning in Power BI, sustainability controlling, special industry solutions e.g. for energy suppliers and much more - there is something for everyone. With a short implementation time of 6 weeks to an average of 3 months and uncomplicated know-how transfer, you can work quickly and independently in the system.
“CCH Tagetik has been both a catalyst and supporter of the development of our finance practice at Gerry Weber. It is becoming increasingly important to react quickly and better. Our new Integrated Financial Planning (IFP) solution gives us clarity on how the business is performing, allowing us to allocate resources more efficiently and quickly assess the impact of external factors and our own planning.”
Daniel Langemeier, Finance Director, Gerry Weber International AG, Germany
With the non-integrated, Excel-based system for planning and forecasting, it could take hours to provide C-level executives at Gerry Weber with ad hoc analysis or scenario comparisons. Data handling had to be more accurate and the KPIs more understandable and standardized. More transparency was needed to understand which parts of the company were performing and which areas were consuming resources.
Gerry Weber's Office of Finance wanted a cloud-based integrated financial planning (IFP) solution that included P&L, balance sheet, and cash flow capabilities. An automated interface to an SAP database was also required. It was clear from the start that the finance team should be able to maintain and develop the solution once it was deployed. Too many calls to the IT department should not be made.
Gerry Weber International chose CCH Tagetik because of the coordinated and integrated standard solutions, such as the cash flow module, the high level of adaptability to industry-specific KPIs and the attractive cloud offering. And with drjve GmbH for an experienced and competent implementation partner. Despite the challenges of the global pandemic, CCH Tagetik Budgeting, Planning & Forecasting went live in May 2021 and is now successfully providing financial planning, forecasting and standard reporting to the distinctive fashion and lifestyle group. Implementation was quick, efficient and on budget.
Results and benefits
Since then, thanks to CCH Tagetik, Gerry Weber has enjoyed the benefit of having real-time, consistent, reliable and meaningful data available, which was particularly important during the pandemic with its ever-changing scenarios. This "single point of truth" combined with end-to-end automated and streamlined processes enables the Office of Finance to create ad hoc analyzes in minutes. CCH Tagetik's cloud-based solution enables the finance team to work remotely and effectively to work in a coordinated manner, automating manual tasks, typically reducing close cycles by 50 percent and putting far less strain on the IT department For planning purposes, Gerry Weber now has the ability to change any assumption and the impact on bottom line - and income statement, balance sheet and cash flow statement automatically and in real-time, reducing the time required by an estimated 50 percent From strategic plans to detailed annual budgets, Gerry Weber can plan with a previously unknown level of insight and accuracy the company the ability to identify where and how it is performing against industry-specific KPIs, such as 'time from order to garment in store', with all implications for cash flow.
About the customer
Founded in 1973 by a German fashion designer and entrepreneur, Gerry Weber International AG is based in Halle and has grown into one of the largest fashion groups in the country. It unites three highly coveted brand families under one roof: Gerry Weber, Taifun and Samoon. Coveted by fashion and quality-conscious consumers, the Group's brands are available through distribution structures in more than 60 countries, more than 500 stores, 240 franchises, 2,000 concessionaires and online.
About the Partner
drjve GmbH is a consulting company that offers services in the areas of analytics, business intelligence and corporate performance management. With a team of 35 specialists with a combined professional experience of over 250 years and several hundred projects, drjve is constantly looking for and testing new solutions. Drjve GmbH has a long-standing relationship with CCH Tagetik.
Wolters Kluwer (WKL) is a leading global provider of specialist information, software solutions and services for the areas of health care, tax and accounting, governance, risk and compliance, and law and regulation.
Every day, WKL helps customers make important decisions by offering expert solutions that combine deep domain knowledge with technology and services.
Wolters Kluwer achieved annual sales of 5.5 billion euros in 2022. The group serves customers in over 180 countries, has offices in over 40 countries and employs around 20,000 people worldwide. The company's headquarters are located in Alphen aan den Rijn in the Netherlands. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded over-the-counter (WTKWY) in the United States.
For more information about solutions and companies, visit www.wolterskluwer.com.