Bobst

Outcome

Bobst’s finance department was able to identify a better structure for analyzing its activity in order to conduct its search for performance thanks to the centralized platform for budget forecasts, financial reports and monitoring of its results.

The solution implemented allowed them to quickly transform their activity reporting organization to a structure by operational unit without compromising the reporting production deadlines.

During the project, Synchrotech favored the autonomy of internal teams by training them and transmitting to them all the information necessary for the maintenance and support of the solution.

From September 2008, Bobst was able to use a personalized budget solution, adapted to his needs. This foundation stone was analyzed, defined, built, tested, deployed and validated in 3 months.

In 2009, the new reporting was rolled out to all of the group’s subsidiaries, and as of 2010, we worked to increase the autonomy of the internal team.

 

Challenge

In 2007, Bobst’s Finance department launched a project to improve financial reporting, budgeting and performance monitoring within the group. The main objectives were:

1. Align the internal presentation of financial results with published IFRS results;
2. Improve the quality of financial information within the group in order to facilitate communication and understanding of results for all stakeholders;
3. Minimize cost allocation with allocation keys;
4. Bring clarity in terms of financial information: presentation of direct costs by function (instead of full costs);
5. Develop key performance indicators (KPIs) to drive activity through the evolution of key performance indicators aligned on the strategic plan instead of driving it by comparing actual results with the past and with the budget.