Customer Case Study: DeLaval
Improving reporting process efficiency for DeLaval
Outdated financial consolidation system with a separate reporting system. This had to change.
Around 2013, DeLaval, led by its CFO, was embarking on a process to improve corporate financial performance. This involved reviewing all financial systems to ensure they were fit for purpose.
The bottom line identified by the organization was an outdated financial consolidation system with separate reporting systems for each individual reporting task. Significant reconciliation work was required. In particular, the organization needed to improve the efficiency of the data collection process and provide users with better visibility and transparency when exploring financial data during the reporting process.
- DeLaval is a leading producer of dairy and farming machinery
- Founded by Gustaf DeLaval – 134 years ago
- Part of Tetra Laval Group
- HQ in Stockholm, Sweden
- 4.400 Employees
- The company has 18 factories worldwide
- Net annual sales of €1 billion in 2014
Inefficiencies in month-end reporting
DeLaval wanted to improve efficiency throughout the reporting process.
Management requested a more granular level of detail, and greater transparency around the numbers.
Reduce the lead time around the month-end financial reporting process.
Replace Excel and PPT presentations, to enable more dynamic reporting and better insight
This is where we come in – the CXO Software solution
The number one benefit in selecting CXO Software was its ability to connect directly to SAP BPC. Furthermore, there was no need to re-create the hierarchy structure DeLaval had spent years building. The presentation layer of CXO Software is set out exactly as the Finance office wishes to view financial data – Financial Statements, Balance Sheets, Profit and Loss Statements, KPI dashboards, etc.