{"id":3732,"date":"2022-11-08T15:29:50","date_gmt":"2022-11-08T15:29:50","guid":{"rendered":"https:\/\/transform8.de\/knorr-bremse-modernizes-financial-reporting\/"},"modified":"2024-05-24T07:50:27","modified_gmt":"2024-05-24T07:50:27","slug":"knorr-bremse-modernizes-financial-reporting","status":"publish","type":"post","link":"https:\/\/hz.digital\/en\/knorr-bremse-modernizes-financial-reporting\/","title":{"rendered":"Knorr-Bremse modernizes financial reporting"},"content":{"rendered":"[vc_row type=”full_width_content” full_screen_row_position=”middle” column_margin=”default” equal_height=”yes” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” bg_image=”900″ bg_position=”center center” background_image_loading=”default” bg_repeat=”no-repeat” scene_position=”center” top_padding=”12%” bottom_padding=”2%” top_padding_tablet=”40%” bottom_padding_tablet=”5%” top_padding_phone=”40%” bottom_padding_phone=”5%” top_margin=”-80px” text_color=”dark” 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Case Study<\/span><\/h6>\n

H&Z.digital implements secure standard reporting for group financials in SAP Analytics Cloud (SAC).<\/h3>\n[\/vc_column_text][vc_column_text]Advantage through a spirit of innovation<\/strong><\/p>\n

For more than 115 years, Knorr-Bremse AG, which specializes in braking and other systems for rail and commercial vehicles, has been driving developments in mobility and transportation technologies and has a head start in the field of networked system solutions. Knorr-Bremse has achieved this lead through technological excellence and a constant willingness to innovate and adapt, and this extends beyond developments in mobility. The company also places a strong emphasis on progress through digitization, making it a top priority for this successful industrial conglomerate.<\/p>\n

Only Cloud, SAP HANA Migration and Data Analytics in Focus<\/strong><\/p>\n

One core element is cloud transformation. In 2023, the company-wide migration to S\/4HANA will begin in order to more strongly network and automate processes on the basis of a uniform system environment. Knorr-Bremse has already completed the S\/4HANA migration in the Treasury department. As part of various data and analytics initiatives, employees in the specialist departments will be empowered to make better decisions with various tools and self-service analytics offerings.<\/p>\n

Challenge of financial reporting<\/strong><\/p>\n

A kick-off project was the optimization of the reporting system in financial controlling. Due to the international presence of the M-Dax group, generating central financial metrics has been challenging. The two divisions for rail and commercial vehicles currently operate separate central SAP instances with numerous local adaptations. Knorr-Bremse has a presence in over 100 locations across more than 30 countries. This meant a lot of manual effort, which costs time and is prone to errors.[\/vc_column_text][\/vc_column_inner][vc_column_inner column_padding=”padding-4-percent” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color=”#f5f5f5″ background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” advanced_gradient_angle=”0″ gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/2″ tablet_width_inherit=”default” animation_type=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” gradient_type=”default”][vc_column_text]Overview<\/strong><\/span><\/p>\n

Customer<\/strong>
\nKnorr-Bremse AG<\/p>\n

Branch<\/strong>
\nTransport and rail traffic<\/p>\n

Region<\/strong>
\nMunich, Germany<\/p>\n

Function<\/strong>
\nControlling, Management<\/p>\n

Business Value Drivers<\/strong>
\nReal-time financial key figures presented in a board-appropriate format<\/p>\n

Challenges<\/strong><\/p>\n