ONE Finance Transformation sets global standards
Mann + Hummel, a German filter manufacturer (annual sales: 4.2 billion euros, 22,000 employees at 90 locations worldwide), initially managed its group via legal entities and regions. Due to growing international requirements and increasingly globally-oriented customers, the world market leader had to think about a better market positioning. To remain competitive in the long term, it decided to establish a uniform worldwide management model along with global functions.
This change made it necessary to review, simplify and standardise all financial processes and SAP systems.
The target picture: ONE Finance.
The comprehensive transformation project PACE (Planning, Accounting and Controlling Excellence) was launched, to achieve a global standard.
The transformation was thoroughly successful. Consolidation has simplified processes and increased transparency. The conversion with the help of the software cbs ET Enterprise Transformer was carried out in a challenging big bang over a weekend, without any friction. The operational areas were not affected by the changeover; in the background, Finance and controlling structures were converted to standards. Operations continued seamlessly after the changeover during the weekend.
Better prepared for the switch to S/4HANA
The controlling model has been implemented and is functioning smoothly, and reporting is also running optimally. “We have drastically reduced and simplified some of our processes in the finance area – that’s a huge plus,” explains Björn Wolf, Vice President Finance & Controlling. One example: SAP rollouts are usually a major effort. “Thanks to the ONE Finance project, the effort in the finance area has been reduced up to 70 per cent.”
In terms of structures and processes in the finance area, Mann + Hummel is now optimally prepared for the subsequent switch to SAP S/4HANA. The automotive supplier has gained a very high level of transparency, thanks to the many standardisations – it can now work more efficiently and make strategic decisions agilely. The end-to-end and up-to-date transparency makes the company better: “Thanks to the new control model, we can provide resilient information on the current financial situation much faster and respond better to the many challenges of the future,” explains Wolf.