Who is the client?
What was
the problem?
SKAT Group has a complex system for managing transport orders, along with an ERP system and accounting software for handling financial settlements. A team of over 30 people oversees the accounting and business analytics areas. However, the management team lacked a broad perspective on the financial performance of the Group, its individual companies, and business lines. Additionally, the company faced the challenge of creating an effective financial forecasting model that could account for the complexity, scale of the business, and specific trading conditions.
Our Partnership Payoff
What Grupa SKAT gained in 12 weeks
- Introduction of budgeting and reduction of the budget preparation time for a geographically and operationally complex organization to just four weeks.
- Implementation of real-time financial reporting, with the ability to easily access information per individual transactions.
- Management of foreign exchange rate volatility risk.
- Ongoing monthly financial forecasting, analysis of deviations from the plan, and actual results of the Group.
The Incro Strategy in Action
How we delivered Grupa SKAT's results
1. Thoroughly analyzed SKAT Group's business model
Our team thoroughly analyzed SKAT Group’s business model to fully understand its processes. We identified the business lines and the relationships between the entities within the Group. We also familiarized ourselves with the systems supporting its operations and mapped all of the functions of these systems.
2. Adapting the chart of accounts to the Group's business
The next step focused on adapting the chart of accounts to the Group’s business model. The goal was to enable monitoring profitability at the level of individual trucks and orders. As part of the implementation of the revised chart of accounts, we prepared a new budgeting procedure. This procedure, combined with modern analytical tools, allowed the budgeting process to be completed in just four weeks, despite the multiple business units and people responsible for them.
3. Creating an operational and financial dashboard in PowerBI
The next phase of the project revolved around the systems. The main objective was to create an operational and financial dashboard in PowerBI, presenting the company’s real-time performance. In addition to providing information on the current financial situation, the dashboard also shows changes in revenues and costs, comparing them to the annual plan, as well as the projected financial outcome for the Group based on available data. We connected the dashboard with the Group’s internal systems, from which data is automatically used. The integration with these systems allows drilling down to details at the level of individual transactions. This level of detail enables thorough monitoring of changes occurring in the different
business lines.
4. Assisting the Group in preparing financial forecasts and cash flow projections.
Currently, we assist the Group in preparing financial forecasts and cash flow projections. This helps the management team react more quickly to changing market conditions, which is crucial in the logistics industry. We also supported management in managing foreign exchange risk.
The cooperation model with SKAT Group is based on a monthly subscription, through which we initially implemented the system and developed the analytical dashboard. We now provide ongoing analyses, financial forecasts, conduct additional profitability studies, and implement more efficient financial and accounting procedures.
