Simply systematic – Bringing more order to consolidation and planning
Case Study MWS Industrieholding GmbH
Industry: metal processing: aluminium castings
Headquarters: Schwoich (Austria)
Employees: approximately 850
Project: Implement an intuitive software solution for consolidation, planning, reporting, analysis, automatic difference searches during consolidation and transparent preparation of planning figures.
Modules: LucaNet.Financial Consolidation, LucaNet.Planner
The Austrian MWS Group is one of the largest and well-known companies in the light metals industry. After years of success and subsequent growth, the company realised that reliable and efficient consolidation was no longer possible with MS Excel. LucaNet's financial software turned out to be a perfect solution to this problem. Financial statements can now be prepared in a uniform, clear fashion for consolidation and reporting purposes.
MWS Industrieholding GmbH is a light metals company specialising in aluminium casting and CNC machining, and is now the European leader in sand casting. MWS's key customer groups include German car manufacturers and the motorcycle industry as well as mechanical engineering companies and the rail vehicle industry. The company's selection of cast aluminium products ranges from highly complex, manually manufactured, made-to-order items to large series of products produced in fully automated manufacturing lines. These products are manufactured at the company's own plants at six locations in three European countries.
As the company grew, it became clear that MS Excel had to be removed from the system. "For several years, in-house consolidation for the group of companies was done with a conventional spreadsheet system. When two more plants were added, this practice was no longer feasible. We needed a professional software solution that could consolidate the accounting figures of the individual companies at the press of a button", says Christiane Bolewski, Head of Controlling and Accounting at the MWS Group. "We learned about LucaNet through a business partner who highly recommended this tool to us. That recommendation was a big help in selecting a solution."
Single system for consolidation and planning
In choosing LucaNet, the goal was to implement a clear and uniform company-wide consolidation and reporting tool that any user could easily learn in a single training session. Thanks to the system's simple menu structure, which is the same for all plants and areas of the company, daily accounting tasks have been greatly simplified.
LucaNet AG's ETL department programmed an interface to integrate the software with the AS/400 source system. Integration of existing Excel files from the SAP and BMD systems was just as easy.
Easy to learn
"LucaNet has a very user-friendly interface. The use of different colours and shapes makes the different areas of the software easy to distinguish. Shortcut menus can be used to display further helpful information and selection function for consolidation and planning. We were able to find our way around the system very quickly", says Christiane Bolewski, praising the user-friendly software.
Automatic difference searches during consolidation
The MWS Group consolidates data in accordance with Austrian national accounting standards (UGB). The company's consolidation process must include sub-groups as well as an equity company. The entire process is facilitated by the system's built-in consolidation wizards for debt, expense and revenue consolidation.
"But the greatest sources of added value in consolidating with LucaNet is the automatic difference function. This function spans an incredibly wide range of areas and allows us to track all differences right down to the level of individual accounts. That was not possible with MS Excel," says Christiane Bolewski.
The company has now used the software for the most recent consolidated financial statement, cash flow report, important metrics and financial planning. The planning process is configured such that the planning figures of the individual production plants are sent to the central administrative location. Transparent and clear annual planning takes place in LucaNet on a monthly basis.
"As a light metals company, we trust in the LucaNet system. The software has very user-friendly features: It's simple and clear, with very professional and versatile functions. For our complex consolidation and planning processes, LucaNet is an essential tool that will ensure our lasting success as a company."
Christiane Bolewski, Head of Controlling and Accounting
MWS Industrieholding GmbH
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