HYMMEN GMBH MACHINERY AND PLANTS
INTEGRATED FINANCIAL PLANNING - PLAN PROJECTS IN PLANT CONSTRUCTION
Hymmen produces machines and equipment of the highest quality. Why should not this requirement also apply to the company's financial planning? The planning of the projects, the company result, the balance sheet and the liquidity are now more reliable and easier to handle with the CoPlanner solution. In addition, unlike Excel, the data is protected against formula errors. A comprehensive reporting tool also replaces manual charting.
CHALLENGES OF FINANCIAL PLANNING
Hymmen GmbH Maschinen- und Anlagenbau faced the challenge of planning ongoing project business more reliably. This planning has so far been done by means of numerous Microsoft Excel folders. The effort to keep the various Excel folders up to date and to ensure synchronization is - understandably - enormously high. It is no coincidence that financial planning is seen as a major challenge in the industry. A solution was sought that would enable the planning of long-term customer projects with the correct accounting of the resulting payments, inventory changes and timely revenue recognition, and translate this into integrated financial planning.
HIGHLIGHTS OF INTEGRATED FINANCIAL PLANNING
At the heart of the solution at Hymmen is the central project planning (yield, effort, deposits and disbursements) combined with a milestone planning, which allows the comprehensive accounting representation of the company result with minimum data collection effort. For each project, it should be possible to forecast the course of costs and benefits and to visualize the impact of each project on profit and loss and liquidity. In addition, the desired standard results (profit and loss account, balance sheet, indirect financial planning) of the integrated financial planning, the weekly-based operative planning of incoming and outgoing payments as well as the determination and consideration of stock changes.
The standard module "CoPlanner Project Planning for Mechanical and Plant Engineering" was introduced in conjunction with the standard model of integrated financial planning in the company. A link to the actual data from ProAlpha via a direct database connection, other data can be loaded as CSV files in the database.
COMPANY HYMMEN GMBH
Since 1892 Hymmen stands for high-quality and innovative machine and plant construction, which precisely implements customer requirements. Hymmen is headquartered in Bielefeld. This is where concepts and technologies emerge that make industrial production processes more effective all over the world. With around 200 employees worldwide, we work on investment projects in a wide variety of industries.
Focus of the company: Production technology for the mass production of plate-shaped materials and the surface finishing of plate or web goods.
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