The consistency and quality of the data in the pre-systems and the financial and liquidity ratios have improved considerably since we introduced the CP-Software.
Head of Finances and Controlling
- Integrated financial planning
- Investment planning
- Credit management
- Cost centre planning
- Cash flow planning
- SAP business One
A vision of data quality and consistency
Automotive suppliers with production sites in Germany are under permanent cost pressure. Since introducing the Corporate Planning Suite for its corporate performance management, HEYCO can rely on consistent and high-quality data as a sound basis for decision-making.
In line with its motto “supplying a visionary service”, HEYCO-WERK Heynen GmbH & Co. KG provides products and engineering services in the field of metal and plastics processing technology. The automotive supplier employs 950 staff in Germany, Ireland and the Czech Republic. In order to maintain its strong competitive position and to be able to make correct, well-founded decisions in any situation, the company decided that its legacy software solution for finance and corporate performance management would have to be replaced. Beside SAP and Microsoft Excel, there were too many isolated applications which were only understood and used by one or two employees. Since there was no company-wide integrated system, the existing data were stored in a variety of formats, which meant that they lacked consistency or could only be accessed by a few individuals.
Keeping an eye on cash flows
On top of that, Volker Herberhold, CFO of the automotive supplier based in Remscheid, North Rhine-Westphalia, had set himself some key objectives that were unachievable with the existing solution. His primary objective was to be able to see the company’s financial position, financial performance and cash flows at any time and for these figures to be reliable. Beside the integrated financial plan, the new software was needed for investment and credit management, as well as for liquidity management where all the expected payments would be taken into account.
In the management reporting system, user-specific reports were to be produced, including a Factory Review and an overview of all the key performance indicators. Similarly, all the reports in the financial reporting system were to be brought into line as Bank Reports, and generated from one system which would also include the data from the foreign companies. It was clear from this that the new system would have to fulfil complex demands.
The management, IT and SAP consultants drew up a requirements specification and looked at several solutions in comparison. The company chose the software from Corporate Planning because it fulfilled all the core requirements and, in the Corporate Planner, CP-Cockpit, CP-Cash and CP-Cons modules, provided an integrated solution for every task. A particular advantage was having RGW Consulting GmbH, a Premium Partner of Corporate Planning, in nearby Lünen to offer help and advice. The CP experts from Lünen were on hand to assist the HEYCO management accountants with the roll-out, as these were also very tied up in their day-to-day business.
Reports ready on time
At the beginning of the project, the first step was to depict the existing operational plan in the Corporate Planner module with all its business segments and cost centres. The operational management and the financial management models are directly linked, so the data could be exchanged between these two areas automatically. During the rollout, great care was taken in merging the data from the various pre-systems. All the relevant information would then be centrally available in the Corporate Planning Suite for analyses and reports and for future plans. Thanks to the help of the RGW consultants, Volker Herberhold succeeded in getting the reporting system ready on time.
Now that many of the steps in reporting are automatic and all the data are present in the system in a clear and consistent form, the CFO has more time for preparing analyses which are valuable to the management as a basis for decision-making. The evaluations which are produced regularly include time series comparisons over several years.
“The consistency and quality of the master data in the pre-systems and of the relevant financial and liquidity ratios have improved considerably since we introduced the CP-Software,” Volker Herberhold sums up the resulting improvements, confirming that by deploying the Corporate Planning software his vision has become reality.
Expertise – Innovation – Flexibility
HEYCO is a leading supplier of products and engineering services in the field of metal and plastics processing technologies.
In all its business segments, the company is characterised by the consistent application of cutting-edge technology and customer-focused development. Expertise, innovation and flexibility are among its widely acknowledged strengths. At HEYCO, the concept of quality was established very early on at all levels. HEYCO has its own in-house system for implementing continuous improvement processes and holds certificates of compliance with the highest international quality standards.