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 |
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