Case Studies: What is your project? Talk to us.
Fast results: The tasks in interim mandates are just as varied as the challenges and framework conditions of the commissioning companies. As an interim manager, Carsten Zaremba brings with her many years of experience and expertise in management responsibility in manufacturing, medium-sized companies with an international environment.
Exchange of ideas desired: In the course of project planning, a division of tasks can be agreed upon together with your employees. Use a non-binding exchange of ideas with us and discuss your project. Together we will find the best solution. Here is a selection of projects.
- 01
Controlling - ERP system - BI software - data warehouse
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The appointment as interim CFO was made by the managing partner of a company in steel and plant construction in the field of renewable energies based in Germany (200 million sales, 2 production sites). The company found itself in a turnaround situation due to market conditions.
For a company of this size, the controlling was insufficiently trained at the beginning of the mandate. The informative value and the duration for the preparation of the monthly and annual financial statements were not sufficient. There was no secure process for creating monthly updated rolling forecasts. The reason for the situation was also an ERP system that could only be used rudimentarily after a system change.
The order was therefore designed in several parts:
* Operational management and strategic reorganization of the central administration
* Project management in the ERP stabilization phase
* Increasing the informative value of monthly / annual financial statements
* Integrated business planning with year-end-forecast
Weak points in controlling and ERP system identified and remedied
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First, the existing controlling instruments and the implementation status of the new enterprise resource planning system were evaluated. In doing so, I identified weaknesses in the ERP system, which are briefly described below using examples.
Data warehouse forms new basis for reporting actual values
The ERP system did not allow automatic, time-delimited valuation for the finished and unfinished goods (work in progress, WIP). However, the profit and loss (P&L) inventory change resulting from the WIP valuation is decisive for a reliable determination of the profit for the period. To enable the necessary queries and analysis, the ERP source data was extracted, cleaned and adjusted. They are then delivered to a target storage - the data warehouse. The ERP data can now be analyzed and visualized using suitable business intelligence software (in this case Microsoft Power BI). In the future, the data warehouse will form the basis for reporting actual values. The WIP evaluation can now be displayed just as reliably as the analysis of the project success.
Correct RHB movement is ensured for determination of period profit
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While in accounting before the ERP system change, all material purchases were already assigned to the projects with an effect on expenses upon receipt, the new ERP system requires a functioning materials management system. Material purchases lead to an increase in stocks of raw, auxiliary and operating materials (RHB) in accounting terms. Material consumption in production, on the other hand, leads to a reduction in inventory or a negative impact on the income statement. The procedural and temporally correct mapping of the RHB movement has become immanent for the correct determination of the period result. Therefore, special focus was placed on the processes and effective controls were created when preparing the financial statements.
The weak points outlined as examples make it clear that clear process definitions are a prerequisite for increased meaningfulness of periodic financial statements, especially with a simultaneous reduction in processing time. Integrated systems also require the coordinated work and timely preparation of all departments.
Successful development of a month-based integrated corporate planning
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Based on the new processes, a monthly-based integrated corporate plan was set up. With the help of the "Business Planner" software, the profit and loss account as well as the balance sheet and the liquidity calculation are mapped as a closed system. Of particular importance was the redesign of the central sub-step "Project planning", which provides the necessary information for all customer orders:
* Production planning as a basis for personnel planning and material requirements planning
* Period-based sales planning as the basis for profit planning
* Customer-related sales planning as a basis for liquidity planning
* Production and sales planning as a basis for WIP planning
Established period-end closing and forecast as transparent control tools
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The sum of the individual measures led to a secure compilation of monthly and annual financial statements. The period-end report, supplemented by a monthly updated year-end forecast, has firmly established itself as a control tool in the challenging corporate environment. The reliable, timely and comprehensive reporting on the assets, earnings and financial position of the company had a positive impact on the trust of the various stakeholders.
The project in key words:
* Create number transparency for a plant manufacturer in the turnaround
* Weak points in controlling and ERP system identified and remedied
* Data warehouse forms new basis for reporting actual values
* Correct RHB movement is ensured for determination of period profit
* Successful development of a monthly integrated corporate planning
* Period-end closing and forecast established as transparent control instruments
- 02
Create a reliable basis for decision-making:
All subplans, e.g. B. for income, costs, personnel, investment, etc., must be reliably generated and adapted to your company. After a plausibility check, these are to be integrated with other company data in an overall system. The transfer of actual data and attachment points must be as automated as possible. This is how transparent figures are used, which provide a basis for business decisions.
We provide support in the analysis, creation of sub-plans and the transfer to an integrated planning calculation that sensibly depicts the interactions between income statement, balance sheet and liquidity.
- 03
Many large companies are already showing the way: the optimization of internal processes allows monthly and annual financial statements to be completed more quickly.
This reduces the time required and thus also costs. At the same time, the stakeholders are provided with more meaningful information about the asset, earnings and financial situation in a more timely manner, which enables short internal decision-making processes and a faster ability to react.
A successful fast close balances the tension between speed and quality in the best possible way.
- 04
We support the review of existing or the construction of new KLR systems and help to actively implement cost leadership.
Those responsible for the cost centers should actively know and influence overhead costs. Just as critical are the individual costs of the products / projects to manage.
Cost and performance accounting (KLR), also known as cost and revenue accounting (KER), serves as the central control instrument of successful companies.
- 05
The pressure to perform is also noticeably increasing in finance. More than ever, finance leaders and their teams need to deliver the highest quality information and manage liquidity. This can only be successful if the core processes of accounts payable and accounts receivable run securely and error-free. Financial processes must be strengthened and accelerated.
We analyze the status of your digitization and help to increase productivity. With the right tools, processes become more efficient. This helps to save costs and improve the company's liquidity. Overall, employee productivity increases.
- 06
Not every size of company justifies a full-time position for controlling. Nevertheless, controlling information is essential for corporate management. On request, we will prepare the necessary evaluations and reports with comments and provide recommendations for action. This gives you additional information about the performance of your products, services and processes.
Defined analyzes and reports are available as tools; e.g. B
- Contribution margin calculation
- Break-Even Analysis
- Cost Accounting
- Business accounting form (BAB)
- Pre/post calculation
- Investment calculation
- Balance sheet analysis
- and much more.
We can also create a multi-year integrated business plan.