lunes, 14 de septiembre de 2015

Nuevos casos de estudio Consolidación: DUVEL

Estamos satisfechos  de que ya más de 500 clientes confían en nuestros productos y servicios para mejorar sus procesos financieros.

¿Quieres saber cómo ayudamos a grupos internacionales a mejorar su proceso de consolidación y presentación de informes?

Echa un vistazo a nuestros últimos casos de éxito con Mona Group Reporting, solución web completa de  consolidación y de informes que proporciona la trazabilidad completa de los datos y potentes funcionalidades de informes internos y externos.

Key information

  •  Sector: brewery group with a focus on specialty beers  
  •  Company founded in 1871
  •  Head offices: Belgium
  •  7 production sites and active in over 60 countries
  •  40 entities included in the consolidation
  • For more

The return on investment in a few words

  • The intuitive user interface allows responsibility for the data entry to be decentralised. The local controllers have access to the software, freeing up more time at HQ for analysis of the figures.
  • The necessary analysis reports such as the consolidated cash flow statement are a standard part of the tool.
  • Reconciliation of the equity is done prior to consolidation, which streamlines the actual consolidation process.
  • Thanks to the program’s user-friendliness, the group can independently perform the consolidation and adjust the parameters (changes in the scope, creation of new accounts, etc).

About Duvel Moortgat
Duvel Moortgat is an independent brewing group that is noted for its focus on specialty beers and premium brands: in addition to Duvel, it also produces Vedett, Liefmans, Chouffe, De Koninck and Maredsous. Duvel Moortgat operates 7 breweries, with 4 in Belgium (in Puurs, Achouffe, Antwerp and Oudenaarde), 1 in the Czech Republic and 2 in the United States (in Kansas City, MO, and Cooperstown, NY). Duvel is currently enjoyed around the world. In most of the export countries, Duvel Moortgat chiefly works with local importers for the sales and distribution of its beers. In the Netherlands, France, the United Kingdom, China and the USA, the group has developed its own sales and distribution team, as these markets offer the greatest potential.

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The situation
Duvel Moortgat is currently experiencing strong growth and performs 4 consolidations per year. The group runs seven breweries and is represented in over 60 countries through commercial companies (France, the Netherlands, the USA and China), a joint-venture in the Czech Republic and a distribution network for the export countries. As a result of this structure, they need to work with 40 different entities and four different currencies, which makes the process fairly complex.
Issues such as the multiple currencies, sub-consolidations in different currencies than the principal consolidation, coordinating the equity and justifying any discrepancies, and generating the consolidated cash flow statement were sources of difficulty in their previous package.
The Financial Management of Duvel Moortgat was looking for a reliable software that could set up an efficient process to meet the requirements of investors and banks, thus enabling better management of the group.
The solution
In May 2014, the group decided to implement Mona Group Reporting for their consolidation and financial reporting. A kick-off meeting was held in order to better get to know the specific needs of Duvel Moortgat in June, and the first consolidation was successfully completed in October 2014. Also, in December 2014, each user was provided with training in order to later be able to operate the software fully independently. With Mona Group Reporting, the group has a flexible solution at all levels, which offers a convenient way to keep up with all of the developments and specific characteristics of the group.
The result
The implementation of Mona Group Reporting enables Duvel Moortgat Group to reliably generate consolidated annual accounts completely independently. The controllers of the local entities have direct access to the system for data entry, which means that the consolidation of the 40 entities can be carried out by a small team. Thanks to the many functionalities included in Mona Group Reporting, it’s easy for the client to make any adjustments or change parameters in-house. This means that, for example, takeovers and changes in shareholdings no longer pose any problem for the group consolidation, thus saving considerable time. Whereas in the past it was very time-consuming to reconcile the reserves, the client can now do this before the consolidation process even begins, allowing the consolidation to be carried out with ease.
All of this means that less time is being spent on the consolidation itself and the quality of the process has improved. Plus, the group is able to get quick answers to any questions thanks to the high-quality helpdesk and the expertise of a dedicated consultant.
Gigi De Borgher, Manager Group Accounting & Controlling at Duvel Moortgat Group explains: “We chose Mona Group Reporting chiefly for its flexibility and user-friendliness. We also appreciate how well the start-up of the project was planned and managed and that all the parties met their deadlines. This allowed the implementation of Mona Group Reporting to go extremely smoothly and we were soon up and running with the new system. The clear, effective training ensured that everyone was able to get started quickly. Finally, the Sigma Conso consultant oversaw the entire project flawlessly and thanks to him, we were able to complete the first consolidation worry-free.”

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