New Release of the legal entity management software zetVisions Insighter
Heidelberg, March 11, 2015 – Release 3.3 of the software company zetVisions AG’s zetVisions Insighter legal entity management software, used by many corporate groups across Europe, has been issued with immediate effect.
This release was also primarily concerned with usability and work simplifications. Therefore, links in reports are now available; Users can insert a link in order to get to the summary view of the company for which the report was conducted. Furthermore, in the company/individual information sheet report a link can be placed on the companies and individuals contained, which either leads back to the application or in the report to this company/person.
Regarding the sector branches, there are also several innovations. On the one hand, company information sheet reports for branches can now be created. On the other hand, branches of one company can now also be transferred to another company (separately or collected as an expert action). Additionally, branches do not need to match the type of administration of their company anymore. Possible are managed branches in monitored companies or monitored branches in managed companies.
Furthermore, it is new that users can start events directly from the respective tab of the summary view of the company, which is then restricted to the events that are relevant for this sector. For example, events of the tab “user-defined information” can be accessed in order to modify them.
Monika Pürsing, CEO of zetVisions AG, adds: “The aim of this release was to further optimize user friendliness and to introduce natural features, which were requested by our clients. Certainly, we successfully managed this balancing act.”
The release is available from March 31, 2015.
Legal Entity Management Solution zetVisions CIM Once Again Certified By Auditors
Confirmed software quality establishes a basis of trust for customers
Heidelberg, October 16, 2014 - The legal entity management software zetVisions CIM (Corporate Investment Manager) created by the IT-expert zetVisions based in Heidelberg has undergone an certification test from one of the "Big-Four" auditor companies for the fourth time. The accounting of the release 3.1, which had been introduced in December 2013, has been checked for conformity with the principles of orderly accounting in case of appropriate application of the software.
Among others, the certified functions include the easy access of the history of capital and shareholder structures as well as numerous enhancements in the area of transactions. In addition to that, it is now possible to release and enter AWV notifications (K3 notifications) in Excel-file format, which stands in accordance to the German Central Bank guidelines required by § 56a. Following customer requests, Excel-file releases for notifications under § 313 HGB and § 285 Nr. 11 HGB have also been implemented.
Monika Pürsing, CEO of zetVisions AG, explains: "The standard solution zetVisions CIM is the world’s first and only SAP-based software for the management of legal entities with a quality certified by auditors." The software supports companies with the complex task of maintaining and controlling national and international legal entities professionally and in a value-oriented way. "Due to the consistent certification of our software products with regards to functionality and quality, we are able to build a basis of trust for our customers," says Pürsing.
Please find further information and the results of the certification test on this website [external link].
Companies Need to Catch Up with Master Data Handling
Software solutions can offer effective support in master data management projects
Heidelberg, June 2, 2014 – Master data forms the backbone of a company and such information must therefore be available and maintained to the required quality. The reality is often very different, however. Many companies struggle with poor data quality when it comes to basic information about issues that are relevant to operations. These typically include details about customers, suppliers, products, and employees. The Business Application Research Center (BARC) in Würzburg makes reference to this in its latest research paper, titled "Master Data Management – Reliable Company Data in the Era of Information Overload." The value of information for companies is visibly increasing, so it is fitting to have a discussion about understanding data as an economic factor alongside labor and capital. "Companies that are driven by data have already recognized this value for themselves, understanding that valid information is the basis for successful business management," says Monika Pürsing, CEO of zetVisions AG in Heidelberg, which supported the white paper together with Stibo Systems.
A missing single point of truth
However, these findings are a striking contrast to the results of the BI Survey, the world’s largest user survey that is also carried out by BARC. According to this research, poor data quality has ranked among the top three problems in business intelligence for years. Departments complain that there is no central reference point that provides "true" data (a "single point of truth"). The needs of company departments stem from two main problems according to BARC.
(1) On the one hand, poor master data quality: Duplicate versions of information about products, customers, and employees as well as outdated or incomplete data sets increase the effort required to process such information. If data cleansing is carried out, this inevitably leads to uncertain and even incorrect decisions.
(2) On the other hand, there is the integration of data: As a result of corporate acquisitions or for reasons of distribution, master data are stored on different company systems. A common task is therefore the comparison and consolidation of master data located on distinct systems.
Data governance is a prerequisite for master data management
In order to introduce a master data management system in a company, it is first necessary to establish a framework of planning and control – a data governance system. According to BARC, data governance includes "the people, processes, and technologies that are needed to manage and protect the data capital of a company in order to guarantee easily understandable, accurate, complete, trustworthy, and secure company data that can be searched." The most important task of such a control framework is to develop a way of organizing master data management that is in keeping with the strategic goals. It is important here to define the relevant roles, responsibilities ("areas of authority"), and processes.
Data quality is an ongoing task
The data quality cycle has become an essential method of increasing and ensuring data quality. It consists of four central components: analysis, cleansing, enrichment, and monitoring and control – a cycle that makes it clear that data quality is not a one-off project, but something that has to be continually checked and ensured on the basis of defined data quality metrics.
With respect to technology, BARC has identified 28 relevant providers of master data management tools in the German-speaking area of Europe, but these differ significantly in orientation and scope. "Master data management does not work with software alone. However, software solutions such as zetVisions SPoT can offer effective support in master data management projects," says Pürsing. In the conclusion to its paper, BARC states that master data management should not be regarded as an IT project, but as a project to optimize business processes. This is an area where companies still have plenty of leeway with a view to saving resources and improving staff satisfaction.
The white paper "Master Data Management – Reliable Company Data in the Era of Information Overload" can be downloaded from the website of zetVisions AG free of charge.
Challenges and Chances of Master Data Management and Legal Entity Management in a nutshell
In cooperation with KPMG, zetVisions invites you to an exchange of experiences
Heidelberg, May 12, 2014 – Together with KPMG, Heidelberg-based software specialist zetVisions AG invites you to a series of events focusing on Master Data and/or Legal Entity Management and to discuss both challenges and chances in these fields.
The quality and timeliness of data play an important role in a broad range of business areas and their respective sets of master data. However, the manual maintenance and verification of data is time-consuming and prone to error, and can thus potentially lead to incorrect decisions being made with far-reaching repercussions and disrupt business processes for a long time.
Processes in core business and master data are strongly connected. Only coordinated, they can ensure an increase in efficiency and a reduction in costs. The central provision of reliable master data is one of a company's central tasks.
With modern Legal Entity Management and Master Data Management companies can improve the timeliness and reliability of any kind of information (e.g. legal entity-related data, material master data, customer master data and financial master data).
How a standardized solution can help to optimize business and core processes in legal entity or master data management through less internal coordination is one of the topics covered during the series of events. Furthermore, the benefits of using the standard solutions either for legal entity or master data management and how they contribute to an increase of efficiency, data quality and transparency are demonstrated on-site:
Topic: Congress: Master Data Management and Legal Entity Management – Ensuring data quality, data governance and process efficiency
Venue: Zürich Marriott Hotel, Zurich (Switzerland)
Date: May 21, 2014 – from 09:30 am till 03:30 pm
Topic: Breakfast Meeting: Master Data Management – Ensuring data quality, data governance and process efficiency
Venue: Mövenpick Hotel Amsterdam City Centre, Amsterdam (The Netherlands)
Date: May 22, 2014 – from 09:30 am till 12:00 am
The practical lectures are addressed to skilled professionals and executives in the areas of IT, business process management, data governance, data quality, finances, controlling and accounting, M&A, legal matters and organization from medium-sized and larger groups.
Attendance is free of charge. Please register in advance. For more information on how to register, please klick on the following link: events. The contact person for these events is Ines Dobschat (firstname.lastname@example.org, +49 (0)6221 33938-663)
New release for the legal entity management software zetVisions Insighter
Heidelberg, March 28, 2013 – Release 3.1 of Heidelberg software company zetVisions AG’s zetVisions Insighter legal entity management software, used by many corporate groups across Europe, has been issued with immediate effect.
This release has been expanded to include many new standard reports. For example, the development of the portfolio between two points in time can be displayed via a single button clock to make changes in the equity share immediately visible. In addition, historical reports are now available in the BIRT reporting application and generated reports can be easily sent by e-mail as Excel or PDF files. The settings for the last use of a report are stored for the user so that no repeated entry of parameters is required.
Furthermore, a lot has been implemented for the user in terms of usability and ease of work in this release: the "grouped mandate extension", for example, permits all members of a committee to be extended at the same time. The in-house zetVisions Visualizer graphics application used to display group structures has also received a new display format which mixes the organigram view with a tree view and further simplifies the visualization of group structures.
Monika Pürsing, CEO of zetVisions AG, adds: "zetVisions Insighter Release 3.1 includes numerous expansions and improvements – a request by our clients arising from many discussions, user groups, and surveys which we were happy to implement."
The release is available from April 2, 2013.