STRATO relies on BOARD and bdg for planning and self-service reporting

The profit and loss (P&L) 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 enormously time-intensive and prone to error. 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 many interdependences. Subsequent adjustments resulted in a lot of manual work and it was virtually impossible to plan scenarios.

In order to improve the flexibility and transparency of teh 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.

After an in-depth analysis, BOARD emerged as the most suitable BI & CPM solution, in particular due to the intuitive and easy handling of the tool. To be able to better adapt to the growing requirements of the project, and to quickly achieve tangible results, an agile project approach was chosen.

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