Financial Consolidation with SAP BPC
Ontex consolidates on a monthly basis using SAP BPC. This project replaced Cognos Controller with SAP BPC, integrated with their BI landscape on SAP BW.
The financial consolidated statements and notes, before serviced in Cognos Controller with additional reporting through Microsoft Excel, were not integrated with the consolidated management reporting, which is mainly based on SAP BW/BI (and Microsoft Excel). As part of the overall Transformation of the Finance platform, in line with the corporate SAP strategy, Ontex decided to implement SAP BPC standard version on BW / HANA to replace the existing consolidation environment.
With the succesful completion of this project, Ontex has achieved the following targets:
- Statutory consolidation in compliance with IFRS
- Analysis of profit and loss by multiple analytical axes such as division, functional area and cost nature
- Integration of transaction data with SAP ECC
- Implement an efficient process for intercompany reconciliation
- Get a robust system to store “statistical” financial information that is required for the Group’s Financial Statements (e.g. revenue by category, brand group, region, exposure in foreign currency,…)
- Improve quality and shorten consolidation lead time through integration of the financial consolidated statements and notes with the consolidated management reporting, which is mainly based on SAP BW/BI.