EURONICS trusts IDL’s specialist skills

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EURONICS Deutschland eG is one of the largest specialized trade cooperatives in the consumer electronics sector in Germany. With IDL, the dynamic association has found the right software and consultancy partner for its mandatory reporting: A reliable process ensures that the annual financial statement is available within three to four weeks for review, all with minimum effort.

Efficient group financial statements for modern cooperatives

  • Introduction of IDL Konsis due to the association being subject to the consolidation obligation for the first time
  • Connection of SAP via an interface
  • Consolidation of 9 companies in accordance with the German Commercial Code (HGB)
  • Display of accounting directives for cooperatives in IDL Konsis
  • Specialist support from IDL when creating consolidated financial statements
  • Simplified intercompany consolidation using individual accounting entries displayed in IDL Konsis
  • A future-proof, scalable consolidation solution for high growth associations

Quick and reliable consolidation at EURONICS trade group

The EURONICS association required consolidation for the first time in 2016. For the dynamic SME-focused company group, cooperating with IDL is the optimal solution for the reporting it needs. IDL Konsis covers all issues associated with commercial and cooperative accounting, automates data flows from SAP and guarantees professional and valid consolidation. With tailored specialist advice and support, IDL frees up the association’s internal resources and supports the quick and reliable creation of consolidated financial statements that are ready after three to four weeks. IDL further developed the solution used at EURONICS upon request so that individual accounting entries can now also be recorded in the system too via the aggregated balance items. The central finance team can use this method to simplify intercompany consolidation and to directly detect discrepancies in IDL Konsis.

Software and Systems

  • IDL Konsis
  • IDL Xlslink
  • Previous system: SAP

Company

  • Germany’s largest association in the Consumer Electronics market
  • Cooperative with over 1,400 member companies
  • Online shop www.euronics.de as a collective marketplace for specialist retailers
  • Local EURONICS specialist stores at around 1,500 sites in Germany

Working with IDL is very efficient. We benefit from the in-depth specialist know-how of our IDL advisor.

André Ganzow
Finance and Accounting Manager/ Authorized Signatory, EURONICS Deutschland eG

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