All Data in one System: zetVisions CIM at the Vaillant Group
Company profileThe Vaillant Group based in Remscheid is an internationally successful group that focuses on heating, ventilation and air-conditioning technology. As one of the world's market and technology leaders, the company develops and produces tailor-made products, systems and services for domestic comfort. The product portfolio ranges from energy efficient heating appliances based on fossil fuels to system solutions for the use of regenerative energies. In 2006, Vaillant Group, which has been family-owned since its founding in 1874, achieved sales totaling about €2 billion with approximately 10,100 employees.
Initial situationIn the course of the past years, the business has grown more and more international. 14 production and R&D locations are situated in six European countries and in China. Together with its international expansion, the demands made on effective investment management have been growing increasingly stronger.
MotivationThe investment structure of the Vaillant Group has become more complex due to its successful expansion. Its desire to integrate new units quickly has been intensified by the obligation of generating legal notifications about shareholding. Thus, the implementation of zetVisions CIM initially aimed at creating a central data pool for all investment-relevant information. This was intended to provide more transparency and better control.
Project implementation & resultsThus, great importance was attached to the recording of subsidiaries and investments including all the board members and contact persons. On this basis, it was possible to systematically and completely record the investment relationships. This data base set the stage for fulfilling some of the legal notification obligations in the field of investment management. In particular, the share ownership list required for the annual report is now being generated at the push of a bottom (as defined in § 313 German Commercial Code). In addition to saving time , the reliability of the information provides a great advantage, as there is now access to a continuously updated data resource.
It is now even much easier to fulfill the statistical notification obligation of the German foreign trade regulations, which states that must once a year inform the German Central Bank about their foreign holdings ("K3 Notice"). Last but not least, information is being recorded according to §138 of the Tax Code and reported automatically, which is also a huge relief on the finance department’s workload.
This project involved the creation of interfaces to related systems. Company data from creditor and debtor master data can thus now be transferred and exchanged.
Deciding for zetVisionsEspecially because of its integration with other SAP-systems, the SAP-based zetVisions Corporate Investment Manager has created a truly consistent data pool for all investment-related information. Thus, "one sole version of the truth" is now available for all departments.
The user-friendly, pre-configured processes for data collection have certainly been of major importance. Another reason for implementing zetVisions CIM was the use of the already existing SAP-know-how in the Vaillant Group. This benefits not only the installation, maintenance and operation, but also simplifies the individual creation of the company’s own reports.
Andreas Winterberg, project director and head of Group Accounting of the Vaillant Group, is satisfied. "Through the implementation of the CIM, we were able to slash the time needed for creating our notifications, increasing their quality at the same time."
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