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Accell Group

Cases

Accell Group

Satriun advised Accell Group on the optimization of cash flow reporting and equity consolidation processes in its Oracle HFM application, including the delivery of functional end-user documentation.

Accell Group focuses internationally on the mid-range and higher segments of the market for bicycles, bicycle parts and accessories and fitness equipment. In Europe, Accell Group is market leader in the bicycle market in terms of revenue. Accell Group and its subsidiaries employ approximately 2,800 people worldwide in eighteen countries. Accell Group generated revenues of € 849 million in 2013. Accell Group NV is headquartered in Heerenveen, the Netherlands, and is listed on the NYSE Euronext Amsterdam exchange.

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Expertise

Cash Flow, Change Management, Consolidation, IFRS 16 & ASC 842

Client

Accell Group

Agfa-Gevaert Group

Cases

Agfa-Gevaert Group

The Agfa-Gevaert Group develops, produces and distributes an extensive range of imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications.

Agfa’s headquarters and parent company are located in Mortsel, Belgium. The Group’s operational activities are divided in four divisions: Offset Solutions, Digital Print & Chemicals, Radiology Solutions, and HealthCare IT. All divisions have strong market positions and well-defined strategies.

Agfa’s largest production and research centers are located in Belgium, the United States, Canada, Germany, France, the United Kingdom, Austria, China and Brazil. Agfa is commercially active worldwide through wholly owned sales organizations in more than 40 countries. In countries where Agfa does not have its own sales organization, the market is served by a network of agents and representatives.

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Expertise

Cash Flow, CCH Tagetik, Change Management, Consolidation, IFRS 16 & ASC 842, Maintenance and Support, Planning & Budgeting, Regulatory Support

Client

Agfa-Gevaert Group

Bazan

Bazan

Cases

Bazan SAP Financial Consolidation implementation

Bazan, Israel’s largest oil refinery, shortens legal reporting, increases data quality and improves data analysis capabilities thanks to its SAP Financial Consolidation implementation by Satriun.

Key Facts

  • Replacing the spreadsheet-based consolidation process by a sustainable tool and a new process
  • Industrialize the production of the numerous output reports
  • Shorten reporting schedules while increasing data quality

 

The Solution

  • Satriun consulting team with consolidation, reporting and SAP Enterprise Performance Management software expertise
  • SAP Financial Consolidation as one single group platform for management and statutory consolidation and reporting
  • Data integration with SAP Financial Information Management Reporting ‘Last Mile’ with SAP Disclosure Management

 

Key Benefits

  • Fast and accurate quarterly data reporting
  • IFRS consolidation and financial statements produced with ease, including automated Cash Flow Statement
  • Full connectivity between SAP ECC – SAP FC – SAP DM – A com-plete ‘Close-to-Disclose’ process

 

Satriun combines excellent knowledge of both group accounting and SAP EPM solutions. That was a critical success factor of our project. Our choice for SAP and Satriun proved right and allowed us to deliver on-time a modernized IFRS reporting while increasing the quality and confidence in our financial statements.

Shai Abramovich

Head of Accounting Division, Bazan

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Expertise

Consolidation, IFRS 16 & ASC 842, Regulatory Support, SAP

Client

Bazan Group

C. Steinweg Handelsveem

C. Steinweg Handelsveem

Cases

C. Steinweg – Handelsveem

Satriun assisted C. Steinweg Handelsveem with optimizing its CCH Tagetik application and the increased requirements for cash flow reporting, higher data quality and functional end-user documentation. Satriun implemented as well the CCH Tagetik IFRS 16 module for Lease Accounting.

C. Steinweg Handelsveem (“Steinweg”) is a service provider in the field of storage, handling, forwarding, chartering and other related logistics services. The organisation is well recognised and respected by all parties involved in the commodity trade business. The company was founded in December 1847 as a shipping agent. Today, Steinweg is a global organization with offices in, amongst others, Rotterdam, Antwerp, Houston, Singapore, Shanghai, and Johannesburg. Steinweg is a privately owned company.

 

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Expertise

Cash Flow, Change Management, Consolidation, IFRS 16 & ASC 842, Maintenance and Support, Planning & Budgeting

Client

C. Steinweg Handelsveem

Vétoquinol

Vétoquinol

Cases

SAP Financial Consolidation implementation at Vétoquinol

Satriun implemented the SAP Financial Consolidation (FC) and Satriun Lease Management solutions at Vétoquinol. SAP FC is used for the group IFRS consolidation and management reporting while Satriun Lease Management is fully integrated with SAP FC and supports the IFRS 16 compliance of the group.

The 10th largest veterinary pharmaceutical company in the world, Vétoquinol is first and foremost an independent, family-owned business. Deeply committed to its values, it has always enjoyed a close relationship with its vet clients. Vétoquinol’s growth and development strategy focuses on innovation and finding the right balance between two major markets: companion animals and livestock, bred for human food. Historically based in France, Vétoquinol develops, produces and distributes a wide range of more than 700 medical and non-medical products in Europe, Americas and Asia-Pacific. With a presence in 24 countries through its subsidiaries, its strong network of 140 distributor partners provides visibility for its products in more than 100 countries.

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Expertise

Consolidation, IFRS 16 & ASC 842, SAP, Satriun Lease Management

Client

Vétoquinol