Getting a head start: COMPO EXPERT continues to rely on TIP.
About COMPO EXPERT
As an international player with subsidiaries in Europe, North and South America as well as Asia and South Africa, COMPO EXPERT produces and distributes special fertilisers and biostimulants for plant growing and care. Its product range includes innovative, slow-release fertilisers, special mineral fertilisers, coated fertilisers, water-soluble salts, liquid fertilisers, trace element nutrients and soil improvers. This product range makes COMPO EXPERT a market leader in Europe.
Status quo and objectives
The sub-group COMPO EXPERT was acquired in 2015 by XIO Group (a global alternative investments firm). The aim was to make the sub-group independent of the system structures of the original COMPO group as early as the 2016 financial year. This also included continuing to rely on TIP for reporting purposes, a system which the COMPO group has been using successfully for financial status and cash flow forecasting since 2011.
Carve-out of the reporting solution
The carving out of a sub-group poses a particular challenge for a treasury department. Timely access to an established and reliable reporting system is particularly important here. The carving out of TIP, however, was possible with minimum time and cost inputs within a period of one month. TIP was isolated from the original system and set up as a stand-alone web-based application. The users, positions and structures which still belonged to the former group were de-integrated in a process involving two-way consultation, while the data relevant to the new group were integrated. As a result, COMPO EXPERT can rely on a tried-and-tested reporting solution. It not only contains all their historical data but is also familiar to their international subsidiaries ensuring no operative disruption due to the carve-out.
- Carving out of a sub-group within one month.
- Group-wide overview of financial status and cash flow forecasting.
- Hosting by TIPCO