Verder adopts BOARD
Verder International BV consists of a group of technical production and trading companies all over the world. The products and services of the Verder Group are pro-duction and sales of pumps and pumping systems, mixers, milling and sieving equipment, storage, feeding, conveying, classifying, granulating, odour reduction equipment and industrial tooling. The fields that Verder is operational in are in the areas of Liquids Handling, Scientific Division and Process Handling.
The Business Challenges
Verder International has some major growth plans. And that makes effective, current financial reporting vital. In the past, the company used Excel sheets to consolidate information from its different entities on a group level. That led to lots of monthly labor-intensive, manual work that was prone to error. Michiel van Mourik, group con-troller at the head office: "Everyone worked with their own version of the truth. A lot of time was spent discussing what the right data was. The BOARD management information system enabled us to develop a shell over our Excel files and ERP databases in order to structure this data. We automated our consolidation process in close collaboration with one of BOARD International's partner. This information can also be shared on a group level so that we all use the same data for analyses.
With more than 50 independent legal entities and three divisions, Verder International has to consolidate a large amount of financial information from extremely varied systems every month.
With BOARD, the partner delivered a management information system where each entity can continue using its own ERP and local systems while consoli-dating and sharing its information through the head office. Group controller Michiel van Mourik: Previously, each controller built his own Excel reports to deliver da-ta from our ERP systems. That was extremely prone to error: all that information had to be lined up by us at the head office before it could be consolidated. The quality of the management information and key performance indicators (KPIs) was lacking. BOARD prevents that by amassing the financial data in a controlled and secure environment while maintaining a link to the source data so that we all work with the same version of the truth. Now, authorization is managed on a group level. Plus, the programming-free toolkit enables controllers to build advanced financial reports and multidimensional graphic models.
The BOARD Solution
Van Mourik: the partner knows BOARD inside-out and helps us find the best way to align this BI and CPM tool with the processes at Verder. The partner comes up with good solutions, and since they structured the system without interfering with any of our own systems, No one was negatively impacted by its implementation. Now that it is running smoothly, we have the flexibility to customize it to our needs.
Implementation took about 15 business days and was on-time and within the budget; after that, we were ready to go. Enthusiasm inside the company has been growing by the day as personnel experience the advantages of having all information in one central place in BOARD. Now that we have an advanced tool with lots of enhancement options, we are prepared for the future. For instance, forecasting is already built in. Moreover, there are plenty of good webinars and sample reports available to get to grips with BOARDs full potential. In that sense, we also benefit from the experience of other BOARD users.
The Customer Benefit
Monthly reports are available much faster than before and are always current, complete and reliable. The quality of data has been improved, as BOARD automatically flags errors in the reports.
Data analysis goes much faster. We save a lot of time: while it used to take three people seven hours, today one person can deliver the same amount of data in less than an hour. The mandatory Statistics Netherlands survey goes a lot faster. That enables us to save a lot of time on routine work, and our auditor can validate all the reports in one go. Since our financial information is kept in models on the group level, co-workers can assume each others tasks.
The Plans for the Future
The next step is to build a data warehouse where multiple users have access to sales information in BOARD. Our priority now is to optimize the reporting process so local users can load and verify the data in BOARD on their own. We will therefore be migrating our IT to a SaaS environment and giving personnel increasing online access to sales information from our systems on different devices, such as iPads, concludes Van Mourik.