Simply universal – Heinz Group introduces LucaNet worldwide
Case Study Heinz-Glas Group Holding HGGH GmbH & Co. KGaA
Branch of industry: Other production (manufacturing and finishing of glass and plastic packaging)
Headquarters: Kleintettau/Oberfranken (Germany)
Employees: around 2,900 worldwide
Project: Introduction of a globally operational software for consolidation, planning, reporting, analysis; wizard-supported consolidation also in planning; preparation of financial statements in accordance with the accounting standards of the individual countries-/ subsidiaries and in accordance with the German Commercial Code; ratio detection and monitoring
Modules: LucaNet.Financial Consolidation, LucaNet.Planner, LucaNet.Importer
"One set of numbers" – this was the objective the Heinz Group pursued in their search to find a professional software for consolidation, planning, and reporting. The worldwide implementation of LucaNet in the company and affiliated companies has had very positive effects. The traditional glass manufacturer now relies on a unified system that provides more accuracy, efficiency, and transparency when presenting financial data.
The Heinz Group is one of the world market leaders in the production and processing of glass and plastic packaging as well as cap and closure systems for the perfume and cosmetics industry. Complete packaging solutions are developed, produced, and processed in seven German plants as well as at other locations in Poland, Switzerland, Czech Republic, China, and North and South America, and then distributed through foreign-owned subsidiaries and agencies worldwide. HEINZ customers include well-known companies such as AVON, Beiersdorf, Bulgari, Estée Lauder, L`Oréal and Shiseido.
Due to the company's continued growth, more and more legal entities needed to be integrated into the system. "The work with cobbled-together Excel-based reports, which were developing a life of their own, was no longer feasible. The resulting effort required to analyse the complex data base could only be met by utilising a large number of human resources. So, we decided to introduce a flexible software, which could provide a clear overview of the many inter-company relationships and offer comprehensive reporting possibilities", explains Steffen Meinel, Head of Controlling at the Heinz-Glas Group. The deciding factor in choosing LucaNet was the overall concept: A software solution that combines consolidation, planning, and reporting in one system, enables flexible evaluations, and communicates seamlessly with existing ERP systems. The objective was to get the LucaNet system successfully up and running in all the international subsidiaries and regional companies and not just in the parent company.
Implementing the LucaNet software for the cash pool area
The first step involved integrating the cash pool area – consisting of five companies – in LucaNet. The actual data was imported via a direct access to the Baan/Infor ERP system. In addition to the consolidation of actual figures, the planning and the cash flow statement were also set up in LucaNet. For this, a new, unified detection system and structure was defined in co-operation with the auditors.
Well organised global roll out
The second step saw the roll out to the remaining Group companies, with the aim of LucaNet uniformly carrying out the consolidation, planning and reporting.
Following the implementation of the LucaNet software for the cash pool (setting up the balance sheet and profit and loss statement structures, the cash flow statement and the analysis) and the preparation of the consolidated financial statements for this area, the remaining companies of the Group were successively integrated.
The implementation of LucaNet in the countries of Germany, Central and Eastern Europe, and North and South America mostly took place on site at the respective locations.
The software is installed on a server at the headquarters in Kleintettau. Remote access to the database takes place via the client connection, which was installed at the respective locations worldwide.
The transfer of the actual figures is carried out centrally, in advance, since almost all companies use the Baan/Infor ERP system. For those companies not recorded in Baan/Infor, the actual figures were imported using MS Excel.
The account assignment was already carried out in advance based on mapping tables. Further fine tuning took place on site, whereby only minor changes had to be made.
The reconciliation of local accounting standards with Group law (German Commercial Code) are recorded in LucaNet at their own adjustment levels.
Furthermore, the planning logic for the respective company was set up in LucaNet (planning forms and accounting rules), and country-specific reports and evaluations established. The launch took two to three days for each company.
Wizard-supported consolidation in both the actual and the plan/forecast
Consolidation took place using the support of a wizard for the different consolidation areas. The wizard was used both for the actual consolidation and for the plan and forecast consolidation. Inter-company issues in each respective company were taken into account when consolidating the planning – partner information for the planning was stored accordingly in LucaNet.
Transparent presentation of statistical data and key performance indicators
In addition to the balance sheet, profit and loss statement, analysis and cash flow statements for the Group and for the local financial statements, a variety of statistical information and key performance indicators are also stored in LucaNet.
Simple preparation of Group reporting and country-specific reports
The local financial statements for the respective countries or subsidiaries are created in LucaNet. For this purpose, a balance sheet and profit and loss statement needs to be derived for each country and for each subsidiary, taking into account the relevant accounting standards. In addition to supplying figures to the Group, the companies can also carry out country-specific evaluations and financial statements on a monthly basis in LucaNet.
"As an international company, we rely on software that meets global requirements in the area of consolidation, planning and reporting. In LucaNet we have found such a solution: LucaNet is used at our locations in Germany, Central and Eastern Europe, and in North and South America. The multilingual data model and system-based currency conversion is a great advantage in particular. The preparation of financial statements according to the accounting standards of each country allows the subsidiaries to report their local financial statements in LucaNet, too."
Steffen Meinel, Head of Controlling HEINZ Group
Heinz-Glas Group Holding HGGH GmbH & Co. KGaA
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