Simply sophisticated – The full range of accounting functions in an intelligent system
Case Study POLIPOL Holding GmbH & Co.KG
Industry: Miscellaneous manufacturing: Upholstered furniture industry
Headquarters: Diepenau, Lower Saxony (Germany)
Employees: around 5,000
Project: Introduction of a software solution for consolidation, planning and reporting; rapid adaptability; transparent display of multiple planning levels and scenarios
Modules: LucaNet.Financial Consolidation, LucaNet.Planner
At POLIPOL the desire for thoroughgoing streamlining of their complex consolidation process led to an intensive evaluation process involving various accounting software solutions. LucaNet quickly won over the furniture manufacturer with its bid: a sophisticated system capable of performing planning, analysis reporting and consolidation functions.
Established in a small town near Minden in 1990, POLIPOL continues to adhere to the slogan "POLIPOL – people & furniture", which emphasises their focus on people, crafting individual furniture pieces to serve as cosy islands for communication and places of relaxation.
The success of this strategy is evident in the strong growth of this medium-sized company. POLIPOL GmbH soon grew into a corporation with operations throughout Europe and multiple subsidiaries in Germany and abroad. The group is managed and organised from Diepenau in Lower Saxony; production takes place at several sites in Germany, Poland and Romania.
MS Excel was inadequate
In the past POLIPOL used MS Excel to perform consolidation. Due to the large number of companies to be consolidated, this process lacked clarity, was too prone to error and was difficult to handle
"Our conception was clear from the outset: going forward we wanted to rely on a software product capable of performing consolidation, planning, reporting and analysis functions. The clarity and user-friendliness of LucaNet greatly appealed to us. The advantages of the software were clearly demonstrated to us during a live presentation. We were especially impressed with the time savings and superior data quality we could achieve with this system", says Stephan Beste, Controller at POLIPOL.
Flexible and transparent planning
Around 10 employees are involved in planning at POLIPOL. The foreign subsidiaries perform their planning themselves directly in the LucaNet software. The planning is predominantly management analysis (such as revenue, materials, personnel and fixed costs) as well as detailed financial planning using the available planning assistants. The projected balance sheet and liquidity planning are also producing using the software, for which purpose the posting rules have revealed themselves to be very helpful.
"The flexibility and rapid adaptability of the system are terrific. Multiple planning levels and scenarios can be transparently displayed with a few mouse clicks.
If postings cause the numbers to change, the direct influence this has on the group is immediately apparent", explains Stephan Beste.
POLIPOL performs single-level consolidation in accordance with the German Commercial Code (HGB). A particularity of the company is that a domestic sub-group must be taken into consideration. The comprehensive consolidation assistants, such as those for debt consolidation as well as expense and revenue consolidation, facilitate the entire process considerably. "With LucaNet, we can produce our consolidated financial statements without errors, streamlining the audit process. The simplicity and speed of consolidation are fantastic. The sophisticated logic of the system is apparent at every stage of the process", says Stephan Beste with satisfaction.
"What makes LucaNet stand out? The outstanding subject-matter and technical capabilities of the solutions offered. LucaNet places great importance on user-friendliness, clarity and flexibility. The individual modules offer a large scope of functions for planning, consolidation and reporting purposes."
Stephan Beste, Controller
POLIPOL Holding GmbH & Co.KG
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