Cortell Australia and Cognos TM1 give freedom to Steinhoff’s Finance Team
In the past, Steinhoff’s budgets were completed centrally by its finance team, but the company wanted business managers to be more directly responsible.
“We wanted ownership of the numbers to be with the relevant managers to make them accountable for their targets and responsible for their results,” says Louise Cooper, Group Accounting Manager, Steinhoff.
To support this approach, Steinhoff required a new budgeting, forecasting and planning solution that could collect a wide range of operational and financial data.
The system had to include advanced business rules (including franchise calculations) that the company could apply when developing planning scenarios.
Other considerations included the transparency of calculations, and the ability to consolidate data so that it reflected both company and brand results. Steinhoff also wanted to minimise the learning curve for their managers.