Vena Case Study - AutoX

Executive Summary

In 2017 the Altron Group sold the PowerTech Battery Group to Trinitas Fund. PowerTech Battery Group includes the well-known battery brands Willard and Sabat Batterieis. Their batteries are used for passenger and heavy duty vehicles as well as in the agriculture, leisure and marine markets. With this breakaway, the new company, now called AutoX, needed to replace SAP BPC as their financial reporting and budgeting tool. This tool needed to effectively replace their financial reporting requirements including consolidation, budgeting, forecasting and the month end process. All of this needed to be rolled out in 3 months.

Altron Karabina engaged with AutoX on their requirements and implemented Vena, a leading cloud-based Finance, Planning & Analysis tool.

 “The responsibilities of the finance team have changed over the years, and we needed to become more responsive, interactive with partners in the organisation and provide more timely and accurate information”

Dulani du Plessis, Chief Financial Officer

The Challenges

PowerTech had previously used the group software tools, but with the breakaway, AutoX  were required to own their own in-house solutions. They were given a 3 month timeframe to acquire and implement a new financial reporting solution.

AutoX wanted to rationalise and simplify the reports used in their reporting processes and they also required the internal team to be self-sufficient in the future.

The Solution

After understanding the AutoX requirements and business challenges, Altron Karabina suggested implementing Vena for financial reporting, budgeting and forecasting. Vena offered cloud deployment with business process flows for monthly forecasting processes as well as monthly reporting processes.

The key decision points in choosing Vena over other products were:

  • Reduced cost of ownership and an increased return on investment
  • Time to value was quicker as implementation times were significantly faster
  • Leveraged existing IP and Microsoft Office Stack

Outcomes

Through implementing Vena, Altron Karabina was able to provide AutoX with efficient, intuitive and user friendly interfaces. End-users now had the ability to create and maintain reports and workflows. The solution provided auditability and data security and self-service finance owned reporting.

Altron Karabina implemented the following processes:

  • Forecasting – monthly forecasting at a GL Account level
  • Daily integration to SAP ERP for actual reporting
  • Financial consolidation adjustments
  • Final month end reporting

The AutoX finance team saved huge amounts of time in compiling consolidated reports and their productivity doubled with the automation of reports.

They could now see how each workflow was working which helped to identify bottle necks within the process. The time taken to identify the root cause was reduced to minutes.

Altron Karabina customised integration from the on premise source into the Vena Cloud database. The time saved by implementing these custom business rules on the source data prior to it being loaded into Vena via a scheduler went from hours to minutes.

AutoX now had a trusted system with enhanced auditability that allowed for greater insight into the data at any level of granularity.

Users are empowered to define and design their own reporting requirements with little to no outside intervention.

“It was a pleasure working with Altron Karabina. They were easy to work with and I would recommend them and the Vena solution. With the solution implemented, we can now provide more value to the business, reporting does not take up our time and we can be confident that we are working with a single version of the truth. We were able to complete this project within the short 3-month period and I was very happy to report, within the allocated budget.”

Dulani du Plessis, Chief Financial Officer

The replacement of SAP BPC, the implementation of a new solution and all of the above benefits was delivered within the 3 month time period – on time and under budget. Download the PDF version here.

Looking for something similar for your organisation? Get in touch with us today for some expert assistance with a budgeting, planning & forecasting solution for your finance team.

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