Akzo Nobel Distribution - Case Study
AkzoNobel Distribution and BOARD: the development of an effective new finance solution
AkzoNobel is one of the world's leading industrial companies and the largest manufacturer of paints, varnishes and specific chemical products for industry, tradespeople, and the DIY sector.
AkzoNobel's integrated distribution network, recently named Sikkens Solutions, now includes over 150 sales outlets throughout France. 900 people work for the company and have all of their expertise and know-how at the disposal of its trade and retail customers.
Sikkens Solutions offers high-performance solutions for painting, floor, wall coverings and tools. A complete range of clearly displayed products enables painters to complete every aspect of their projects with confidence.
More recently, the company has incorporated environmental protection into its strategy and is committed to providing its customers, shareholders and staff with long-lasting, more environmentally friendly products and solutions.
Transformation of the finance function thanks to BOARD
The Administrative and Financial Management of AkzoNobel required better control of the visibility of its profit centers, improvements in its monthly reporting process and an overhaul of its budgeting process.
The long-term goal was to automate the production of business performance indicators (regarding trends in turnover and gross margin), manage the volume of data in order to enhance the speed and quality of results presentations, prepare budgets for 150 sales outlets, produce monthly P&L figures and enable our management accountants to spend more time on analysis and supporting their operational teams.
BOARD was chosen as a new reporting and budgeting tool. The teams tasked with its implementation were impressed by the speed with which the tool was deployed (3 months for the software integration) and by its effectiveness. The Group's administrative and financial management has thus been able to develop a new process. BOARD has enabled them to conduct targeted budget audits and very fine analysis of profit center performance.