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.
In 2007, Bobst’s Finance department launched a project to improve financial reporting, budgeting and performance monitoring within the group. The main objectives were:
- Align the internal presentation of financial results with published IFRS results;
- Improve the quality of financial information within the group in order to facilitate communication and understanding of results for all stakeholders;
- Minimize cost allocation with allocation keys;
- Bring clarity in terms of financial information: presentation of direct costs by function (instead of full costs);
- 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.
“We appreciated the commitment of Synchrotech consultants and their strong expertise in Corporate Performance Management and Business Intelligence. I recommend their practical and pragmatic approach which is particularly useful for dealing with the challenges of such projects, for which Synchrotech is available and solution-oriented. ”
Bobst Group Finance Reporting Manager
“What interesting challenges in this project! From the budgetary implementation for all the subsidiaries to the transformation of the organizational view of the activity sector into an operational unit, via the centralized collection of the customer portfolio and the definition of institutional KPIs, all the links of the project are intertwined so that Bobst can have a global vision of the performance of his company. ”
Manager @ Synchrotech
Bobst is one of the world’s leading suppliers of substrate processing, printing and converting equipment and services for the label, flexible packaging, folding carton and corrugated industries. Founded in 1890 in Lausanne (Switzerland) by Joseph Bobst, BOBST is present in more than 50 countries, has 15 production sites in 8 countries and employs more than 5,500 people worldwide. It posted consolidated sales of CHF 1,636 million in fiscal year 2019.
The solutions deployed are Hyperion Planning and OBIEE. The finance team needed a complete BI platform to manage their budget, forecasts and reports. She chose Oracle Enterprise Performance Management Suite because it encompasses web applications to speed up financial processes such as budgeting and ease the workflow. The suite includes applications with simulation functionality, centralized access rights management, commenting and auditing capabilities. Oracle EPM applications are well integrated and require little development for standard uses. They ensure immediate availability and strong scalability.
Synchrotech supported Bobst’s Finance department in the implementation, configuration and customization of Oracle financial solutions, including Hyperion Planning. As a partner of the finance team, we brought our skills both on the technical level and on business understanding with the constant concern of working as a team. Our proximity, flexibility and responsiveness reassured the client from the preliminary design to the auditor’s certification of the annual report.
- Oracle Business Intelligence Enterprise Edition (OBIEE)
- Hyperion Planning