Cash Flow Forecasting
This Salzburg-based automobile trading company is active in 22 European countries as well as in Latin America and China. It represents the brands of the Volkswagen Group both as a wholesaler (importer), retailer (trader) and in the area of after-sales (service). In addition, Porsche Holding covers the entire automobile trading spectrum due to its involvement in replacement part sales, financial services, its own IT system development and multi-brand retailing. At the end of 2015, the group employed a workforce of 33,124 which sold more than 670,600 new vehicles and generated revenues of EUR 18.8 billion.
When REVAL was implemented in 2014, the question arose as to whether the new TMS could cover all treasury-related tasks or whether reporting and cash flow forecasting should continue to rely on TIP. An in-depth analysis revealed that the reports of Porsche Corporate Finance required a very high degree of flexibility which REVAL was not able to provide. It was also not possible to migrate and comparably mirror the cash flow forecasting in the new TMS. As a result, the decision was taken to continue to prepare both reports in TIP and to synchronise the systems with each other.
The first step was to clearly define which data would be primarily stored in REVAL and which primarily in TIP. The data primarily stored in REVAL were subsequently migrated to TIP on a daily basis by means of automated interfaces. This involved ensuring that all of the data from REVAL are automatically available in TIP and that no manual data processing is necessary. The subsidiaries continue to use the flexible data capturing via TIP for cash flow forecasting. Manually captured data and data from REVAL are integrated into a series of flexible reports which can be prepared in a matter of seconds at the press of a button. These reports can also be quickly modified to reflect new reporting requirements. The module for bank charges monitoring was also implemented.
„Every system does that which it does best. REVAL is our stable TMS, while TIP provides the flexible cash flow forecasting and high-performance reporting.“
Heimo Tiefenböck,Leiter Cash Management Structures & IT, Porsche Corporate Finance GmbH
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