Driver-based Profit and Loss Account
with STRATO
The profit and loss account is an essential component of the annual financial statements and is indispensable for success control. With a professional, integrated driver-based P+L, the management receives an overview of the current financial situation of the company and thus a sound basis for corrective measures and essential decisions. Despite their central function, many companies still plan and report their profit and loss accounts in time-consuming and error-prone Excel processes. The financial department therefore often has to collect and process relevant data manually. STRATO was struggling with these problems until recently. A complex data source and the manual preparation of data in Excel made planning and reporting an enormously time-intensive and error-prone process. Particularly the planning of individual business drivers across different regions, product groups or cost centres, which formed the basis of the P+L, was very difficult due to its high complexity and interdependences. Subsequent adjustments resulted in a lot of manual work and it was virtually impossible to plan scenarios.
With BOARD and bdg, we were able to realise a reporting framework for self-service data visualisation, analytics, reporting, and planning that grows flexibly with its tasks.
In order to improve the flexibility and transparency of the reporting and planning processes, and to introduce a faster and self-service driver-based planning, STRATO worked collaboratively with bdg to develop a concept for the implementation of a BI & CPM tool. The main objectives of the project were the partial automation of the driver-based planning process and the reduction of reporting cycles and improvement of the reporting quality through the creation of a uniform data base.
And find out all about the highlights:
Tailor-made BOARD solution for P & L planning and reporting of STRATO AG
Creation of a uniform data base
Identification and modelling of complex drivers
Report cycles have been shortened and report quality improved
Effective coaching for self-service BI
STRATO AG, based in Berlin, is a subsidiary of United Internet AG and one of the world’s largest hosting providers. Founded in 1997, the company currently employs approximately 500 people and has more than 2 million customers and 4 million hosted domains. Their services range from e-mail and office packages, website solutions, cloud storage and online shops to servers and high-end hosting solutions.
| Industry | Region | Application | Number of users |
|---|---|---|---|
| Internet Service Provider | Berlin, Germany | Driver-based P&L planning | 40 |
A globally active company with over 400 employees, Jonas & Redmann was looking for an optimised solution for financial planning and project controlling. The choice of software platform was made in favour of Board, which impressed the customer with a perfect combination of planning and reporting as well as a high degree of flexibility.
Good planning is crucial for business success. This is especially true in the fast-food business, where speed of response and quick adaptation to changing consumer trends are essential. As the business grew, so did KFC’s restaurant planning requirements, which meant that the Excel-based planning system was soon unable to keep pace with growth and needed to be replaced with a more powerful solution.
The bdg and EOS project aimed to establish an integrated financial accounting system through automation and process optimization that minimizes manual effort, improves data consistency and reduces the susceptibility to errors. Since the performance management software Jedox was already in use in several corporate departments, the high flexibility of the application should also be used for this project and the new solution should be integrated into the existing application landscape.
