Lean management in monthly closing: Process automation in financial accounting

with EOS

better decisions group GmbH | EOSGruppe 2 1

EOS and bdg create a comprehensive solution for analysis and automation

The EOS Group’s financial accounting department was working with a process that was characterised by numerous sub-steps and manual input in various systems, some of which were outdated.

Data on the debt purchase portfolios in Jedox had to be manually transferred to an Excel environment and validated there. Subsequently, booking records were created manually in an Access database. This ageing Access application was prone to errors and was to be replaced. With the international growth of the group, the enormous effort that had to be invested in manual processes and validations for each individual company also increased – for each monthly statement. This was another reason why there was a great need to enable an automated transfer of data from the debt purchase portfolios into the group’s own ERP (Enterprise Resource Planning) system in Oracle in conformity with the accounting records.

In cooperative collaboration with the bdg consultants, we have successfully developed a comprehensive solution for our financial accounting. The automation of the monthly financial statements means an enormous time saving, especially for us as a holding company with branches in Germany and abroad. Valuable resources can now be used profitably because they no longer have to be spent on manual processes and time-consuming data validation. Our entire process is significantly streamlined.

PROJECT OBJECTIVE

The aim of the joint project between bdg and EOS was to create an integrated system that would significantly reduce manual effort, increase data consistency and minimise error-proneness by automating and stream- lining processes.

Various sub-steps had to be taken into account. First of all, the new application was to enable the automated, posting record-compliant transfer of the receivables purchase portfolio data, which was already managed in Jedox, into the ERP system in Oracle. This transfer process was to include an offsetting of the data in order to make the IFRS-compliant data in the source database also usable for accounting according to HGB regulations. Furthermore, the currency conversion of the underlying portfolios into the accounting currency (Euro) had to be taken into account. In addition, the preparation of monthly financial statements for the companies of the EOS Group was to be automated.

Read the whole story now

And find out all about the highlights:

  • Comprehensive solution creates greatly improved data and loan portfolio trans- parency

  • Significant time savings through automa- tion of monthly closings

  • Analysis and reporting capabilities provide valuable support for auditing and financial statements

  • Cooperative collaboration for project success

better decisions group GmbH | bdg success story lesen 1
better decisions group GmbH | EOSGruppe 2 1

About EOS

The EOS Group is an international financial services company. Its business focus is claims management, whereby in addition to the classic debt collection business it also handles the entire process of evaluating, purchasing and managing claims portfolios. Today, more than 60 operating branches with locations in 26 countries are united under the umbrella of a holding company. The EOS Group, headquartered in Hamburg, belongs to the Otto Group and is considered one of the largest debt collection providers in Germany.

IndustryRegionApplicationNumber of users
Financial servicesHamburg, GermanyFinancial accounting20

EXPLORE MORE SUCCESS STORIES

better decisions group GmbH | Beitragsbild Success Story Siemens Energy

Data-Driven Cost Calculation in power plant construction with Siemens Energy

Can BI/CPM applications reflect the highly complex experiences of long-term employees? That works! With Siemens Energy and bdg. Where are the limits? We won’t know until we reach them. In this project with Siemens Energy, bdg uses the full functionality of Jedox and once again pushes the boundaries of what is possible.

better decisions group GmbH | Beitragsbild Success Story Sainsbury

Intelligent inventory optimisation with Board 

The clothing division alone has hundreds of thousands of SKUs, making inventory management extremely complex. Efficiently managing the flow of goods therefore requires a highly flexible and reliable processes and software. With Board and bdg, Sainsbury found the ideal solution to optimise inventory management.

better decisions group GmbH | Beitragsbild Success Story Strato

Driver-based Profit and Loss Account with STRATO

STRATO and bdg jointly developed the concept for the implementation of a BI/CPM solution for controlling. Board was chosen as the software; the intuitive and user-friendly design of the application was particularly decisive, enabling it to be used as a self-service BI.