Finext and TIP Group joined forces to carry out an optimisation battle over the existing models. We also started working on a scenario & forecasting module. This enables TIP to quickly calculate the most lucrative investment options within the organisation or the impact of certain market conditions. Read here why TIP Group chose SAC.
“Financial Planning is Core Business at trailer leasing company TIP Group. To future-proof this in the cloud, it was built with Finext in SAP Analytics Cloud.”
“A one-stop shop for all customer’s trailer and truck needs.” That is what TIP Group stands for. Even as a major player in the entire European and Canadian market, TIP is continuously working to further automate its financial processes. To this end, TIP drew up ‘Vision 2025’. A large-scale programme which enables the organization to extract more control and predictive information from the available data. The main goal of this vision is to have a simplified work structure by 2025, supported by a renewed digital environment in cooperation with technology partners. With the implementation of SAP Analytics Cloud (SAC), an important milestone in that vision has been achieved.
With more than 130 branches spread across 18 countries and a large and diverse range of trailers and trucks, financial planning is an important process in TIP’s operations. Previously, this process was largely facilitated from Excel. This was error-prone but, partly due to TIP’s strong growth, now also too time-intensive. As a result, valuable time was lost when it could be much better spent in the rapidly developing market.
SAP Analytics Cloud
TIP opted for SAP Analytics Cloud. SAP’s strategic solution for financial planning. One of Finext’s software partners. Using SAP Analytics Cloud, TIP wants to achieve higher data quality, accelerate the financial planning process and meet its shareholder’s reporting needs. That was a fun challenge. Especially revenue planning for such a large fleet in a dynamic market is complex and challenging. Partly because the working methods of different branches are very different, it is not easy to establish a process that everyone agrees with.
Rudie van Dijk, Finance Director of TIP Group has been closely involved in this project. ‘With a relatively small team, we have been able to build a Centre of Excellence in which we are getting to know the SAP Analytics Cloud and processes better and better. Finext helped us in this’. We took a co-build approach in which my team was increasingly empowered to make its own changes. This included building various reports, dashboards and maintaining and updating master data. ‘Meanwhile, the application is in full use and a faster financial planning cycle with higher reliability has been realized. This in turn gives TIP’s finance department more time and opportunities to add value to the business,’ says Rudie van Dijk.
Scenario & forecasting
The final product tastes like more. Finext and TIP Group recently joined forces to carry out an optimization battle over the existing models. In addition, we have now started working on a scenario & forecasting module. This enables TIP to calculate various investment options at regional or group level or to determine the impact of certain market conditions. Data insights make it possible to look ahead, with today’s certainties. A key component for TIP FP&A to grow to an advanced level.
Are you inspired by TIP’s story and want to know what Finext can do for your organization? Contact us without obligation and we will be happy to help you further. Would you like to see more of SAP Analytics Cloud? Then attend our SAP close-up on 22 June where we will present a solution for tax provisioning in SAC.
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