Online data exchange for consolidated financial statements at the Bauer group
Many companies have endless Excel files sent between the parent company and the subsidiaries for investment controlling and group consolidation purposes. The disadvantages, such as the large amount of manual effort, input errors or a lack of transparency, are well known. The globally active Bauer group can show others how to do it better with the reporting that it digitalized using modern IDL software.
Online recording of all data
- Long-term use of IDL Konsis
- Excel reporting replaced in subsidiaries
- Automated data reporting via an SAP standard interface
- Notification of additional data in the central web portal
- Automatic data integration and aggregation using a central database
- Easy adaptation of report folders and key figures
- Group-wide evaluation of figures and comments
- Audit-proof process documentation
Efficient and standardized IFRS reporting
The Bauer Group is the world leader in special foundation engineering technologies. With over 110 subsidiaries in around 70 countries, Bauer has a worldwide network across all continents. In accounting, the companies are pooled into four subgroups.
Bauer has been creating consolidated financial statements with IDL Konsis for years. In the international sphere, the centralized Group Accounting & Controlling decided to implement digitalized report processes and has therefore replaced its reporting with Excel packages by the latest version of IDL software. The companies now send their data directly to the central consolidation system, automatically via the interface to the ERP system and by entering data in the online data entry forms. Data collection is controlled via the IDL Workflow Function, which provides the headquarters with an overview of the processing status at all times.
A key advantage is that all reports are created and processed using a central database. All companies access a unique repository in accordance with their user rights. The central department creates, updates and distributes reports and figures with one click using IDL Designer. For Bauer AG, one key benefit is that non-numeric information such as comments can now be stored centrally and evaluated across the group.
Software and Systems
- IDL Konsis
- IDL Designer
- Global leader for special foundation engineering technologies
- Represented in around 70 countries with over 110 subsidiaries
- Headquartered in Schrobenhausen.
- Approx. 11,700 employees; group sales of 1.6 billion euros (2019)
Switching from Excel packages to online data collection with IDL has paid off. For monthly reporting alone, we will now save two days worth of work when preparing report forms.