Sector: Automotive Industry
Product Range: Heated Seats
Revenue: EUR 130 M
Employees: 3000

Initial Situation

  • A total of 8 operating companies in Europe, Asia and America
  • Different regional entry systems and chart of accounts
  • Costly annual consolidation of actual numbers in Excel with partly considerable differences
  • Planning and reporting is only possible at the income statement level
  • Regularly significant differences between reporting and HGB accounting at group level
  • Dissatisfaction of the financing banks with the data quality

Procedures and Services

  • Inventory and goal definition during a workshop
  • Installation of the financial software "Lucanet”
  • Reading 6 companies on document level and automatic identification of IC entries
  • Transformation routines for the monthly data of 2 other foreign companies
  • Development of a planning and reporting structure for all individual companies and the group
  • Training a newly installed group accountant


  • Prompt monthly reporting of profit and loss, balance sheet and cash flow for individual companies and at group level
  • Significant improvement in transparency within the companies and the group as well as for external stakeholders such as banks
  • Significant increase in the controllability of the entire group with the same workforce
  • Significant improvement in the speed and quality of consolidated financial statements


Source: Concentro