Satriun Group delivers CPM transition at TeamViewer

31 March 2016 Consultancy.uk

Within a six month timeframe, software vendor TeamViewer overhauled its financial consolidation and reporting activities. The result: better and faster reporting processes and more grip on consolidated financial statements. The transition was delivered in collaboration with consultancy Satriun Group and CPM specialist Tagetik.

Founded in 2005, TeamViewer is a Germany-based provider of remote software support solutions. Its solutions facilitate online meetings, support e-learning objectives, enable remote maintenance & support, and consist of a range of cloud-based offerings that facilitate working from home. With over 200 million active users across more than 200 countries, TeamViewer is one of the largest players in its segment globally.

In the summer of 2014, TeamViewer was acquired by private equity firm Permira. As part of the deal, the new owner requested TeamViewer’s finance department to launch a modernisation track. Up to that point, most of TeamViewer’s financial consolidation and reporting activities were managed and executed through an Excel-based process. The firm’s rapid growth – the software vendor at the time had operations in Germany, US, Australia, Armenia and the UK – resulted in growing pressure on the reporting process, and as a result the finance team was spending too much time collecting, processing and correcting data. In addition, TeamViewer’s CFO Stephan Kniewasser wanted to achieve two primary goals: to meet the reporting requirements of the company’s new shareholders / banks and to strengthen its financial and controlling processes in preparation of a potential IPO.

TeamViewer

With that challenge in mind, TeamViewer turned to Satriun Group, a pan-European consulting firm that specialises in Corporate Performance Management. The consultants were given the task to help streamline and speed up the financial consolidation and reporting processes. The scope also involved improving insight, bolstering data quality and allowing for improved breakdowns of performance, recalls Casper van Leeuwen, partner at Satriun Group and project lead consultant. “In the Excel-based reporting process, the cash flow statement was available only at a consolidated level. TeamViewer wanted to produce cash flow statements at both legal entity and consolidated levels. Additionally, the finance team wanted to enhance reporting notes and to automate the creation of the annual IFRS consolidated financial statements.”

After assessing the situation, the project team came to the conclusion that two solution areas would be key. Firstly, the data model blueprint for financial reporting needed to be revised to better accommodate TeamViewer’s requirements. And secondly, automation needed to be leveraged, with Tagetik brought on board as the software solution for Corporate Performance Management. “We designed a financial data model that addressed TeamViewer’s management reporting requirements, as well as being IFRS compliant. Over a hundred validation controls ensure the quality of the information provided across income statement, balance sheet and cash flow statement”, says van Leeuwen. With this strong fundament in place, the team designed relevant breakdowns by product and license type for revenues, and by department for operating expenses. On the back of approval from the project management office, the green light was given to set up the data model in the Tagetik system.

In parallel to the building of the solution, the project team started preparations for the roll-out, commonly cited as the most complex phase of a technology implementation, and, in many cases, notorious for its poor track record. An execution roadmap was developed, end-users were engaged through communication and change management initiatives and a learning & development approach was defined. As part of the latter, end-user documentation and end-user trainings were created, building on a blended approach – a combination of classical learning with on-the-job learning, tailored at the needs of the audience. End-users were subsequently trained for the new way of working and the Tagetik application went live “on time and in budget”, says van Leeuwen.

Satriun Group delivers CPM transition at TeamViewer

The go-live was “smooth”,  a feat which was reconfirmed in the formal evaluation two months later. Whenever issues did surface, the project’s post go-live governance ensured these were swiftly dealt with. “Intercompany elimination, currency translation and equity consolidation postings are now fully automated. The consolidated cash flow statement is done within minutes in Tagetik, compared to days previously”, says Van Leeuwen. Moreover, he points out, compliance to IFRS reporting has been streamlined, including reporting requirements related to financial risks, commitments and contingencies, and income tax reconciliations.

Stephan Kniewasser, CFO at TeamViewer, looks back at the transition with pleasure, describing the work done by Satriun Group and Tagetik as “tremendous.” He adds: “We found the optimal solution both with Tagetik as our new corporate performance management system and Satriun Group as our implementation partner. With their hands-on mentality and truly customer focused approach they helped us to achieve our goals on time and in budget.”

Profile

More news on

×

How data insights helped Network Rail improve the South-East route

11 April 2019 Consultancy.uk

Amey Consulting has leveraged data insights to assist Network Rail with the improvement of its South-Eastern route. Using the Quartz tool, which monitors train movement, Network Rail will now be able to commit to data-enabled interventions to quickly improve underperforming train stations.

With rail services in the UK coming under strain from the demands of modern commuter life, while the infrastructure and service delivery of the nation’s railways has come in for sustained criticism in recent years, a period of regeneration is on the cards at last. Network Rail is the owner and infrastructure manager of most of the railway network in Great Britain, and has subsequently tapped the consulting industry on a regular basis to help find areas of improvement.

The group recently drafted in consultancy BearingPoint to conduct a thorough organisational evaluation and advise Network Rail (High Speed) on attaining a ‘fit for purpose’ organisational standard – for which the consultancy was nominated at the 2019 MCA Awards. Meanwhile, ArupArcadis and Aecom have been contracted to help Colas Rail and Babcock Rail implement a decade-long framework for Network Rail, aimed at supporting the delivery of the next generation of rail systems, with the contracts said to be worth as much as £5 billion

How data insights helped Network Rail improve the South-East route

As Network Rail further aims to improve its performance and customer service offering, another area it has sought help from the consulting sector for is its South-East route. The network of railways connects London with the southern parts of the country, as well as with Europe, making it the busiest in the country, with more than 500 million passenger journeys per year. This crucial expanse of rail was plagued with small minute delays, which were impacting millions of passengers every day, while reducing the efficiency and capacity of the overall network – something Amey Consulting was selected to help solve.

Amey Consulting soon determined that with the sub-threshold delays to services only lasting for 1 or 2 minutes, most were not the subject of detailed root cause analysis, and this made their corrections almost impossible – with dire consequences. Without addressing these delays, passenger satisfaction would fall, while the capacity and efficiency of the network would be reduced, stinging the income of Network Rail even before a host of delay-related fines would hit the company.

In order to help the client gain a better understanding of where, how, when and what these small delays occur, Amey Consulting looked to demonstrate the value of data-led consulting, with a significant reduction in delays within the first month of rolling out changes to key stations. The consultants embedded themselves in Network Rail’s team, helping them learn the key skills needed to support and apply data-driven solutions.

Agile transport

This involved the deployment of the Quartz tool. The system utilises to-the-second train movement data to present the performance of individual stations across the South-East route. It allows users to effortlessly understand station performance with a high level of detail, and use this information to identify losses caused by small-minute delays. The granular data allows for targeted actions to drive efficiency savings and performance improvements. More importantly, it allows users to understand the impact of small process changes on performance. 

Steve Dyke, an Executive Partner at Amey Consulting, said of the project, “We looked to identify the physical root cause on the infrastructure, building a case for change then managing that project implementation and tracking the benefit/value.  In doing so we are working to define a data performance improvement service to the operational and infrastructure owners.”

Just as important for the project as the technology, however, was teaching the Network Rail team how to leverage it after the consultants were gone. The Amey Consulting team worked to develop an agile working culture within Network Rail’s South-East division, helping staff to be confident in using data to improve the journeys of millions of people per year by attacking the problem from the ground up.

Dyke concluded, “This is less about the tools and about the approach to managing performance.  It meant using by-the-second analysis, data science, and then agile development to visualise and identify areas where improvements can be made.  We then worked with NR to change the way they approached the management of the infrastructure changes.  So rather than pass the information down the value chain, any of which could have been missed, we managed the change end-to-end.”

The project was so successful that Amey Consulting was also among those honoured at the recent MCA Awards. The firm scooped the Performance Improvement in the Public Sector prize for its work with Network Rail, at the 2019 ceremony in London.