Implementation of a group-wide financial status and a cashflow forecast at the largest european airline…
540 subsidiaries and equity investments
Financial Status
Cash Flow Forecasting
Notifications
FX Exposure
Reporting
Bank Charges Monitoring
Signature Authorisations
TMS
SAP
The Lufthansa Group is a global aviation group with a total of 540 subsidiaries and equity investments. In its 2015 financial year, these were organised into the Passenger Airline Group, Logistics, MRO, Catering and Other business segments. All the segments occupy a leading position in their respective markets. In 2015, the Lufthansa Group generated annual revenues of EUR 32.1 billion with a workforce averaging 119,559.
The objective of Lufthansa was to set up a centralised system which was capable of capturing, aggregating and analysing the financial status, cash flows and FX exposure data of all consolidated subsidiaries. The requirements were for existing data to be imported from source systems (e.g. TMS and ERP) but also for the information and outputs of the new system to be exportable to other systems (e.g. TMS). In addition, the aim was for all of the data to be analysable in the form of rapid and flexible reports, with the option of the treasury department also being able to generate reports itself and to automatically distribute these to the subsidiaries.
The functional scope of TIP, the interfaces to upstream and downstream systems as well as the various reports were all based on precise specifications. For the cash flow forecasting, it was possible to reflect the segment-specific structures and to implement a transition to a FX-risk perspective. The reports were prepared using Business Objects and the key users were trained how to independently create future reports. This was followed by the joint implementation of technological and functional development steps such as the use of Qlikview for more flexible data analysis and the module for automatically reviewing bank transaction and administration charges.
„As an information logistics tool, TIP has been a central element of our IT treasury landscape for more than 10 years. The simplicity, flexibility and speed of the system, combined with the industry expertise of TIPCO and its openness with regard to customer-driven developments, were the keys to our requirements being optimally implemented.“
Thomas Linnert,
Head of financial planning and payments, Lufthansa AGClick below to select a suitable date and time
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