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Business case Van Reybrouck

Consolidation with Sigma Conso

Van Reybrouck, an independent consulting firm, has chosen Sigma Conso to perform the consolidation of their client, the Diversi Foods group. Discover the business case below.

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Van Reybrouck: key information

  • Independent consultancy firm, specialized in accountancy, tax and legal advice and corporate finance
  • Office with more than 40 experts, branches in Bruges and Brussels (Belgium)
  • More information: www.vanreybrouck.be

Customer: Diversi Foods

  • Complete supplier of bakery products: both in bake-off as fresh for retail,
    food service and under private label
  • Founded in 1989
  • Active in Belgium, Poland, the Netherlands and UK
  • 15 entities and 3 currencies, quarterly consolidation
  • Turnover: € 150 million euro
  • More information: www.diversifoods.com

Return on investment – in a few words

  • Perfect auditability and traceability of the data
  • Decentral responsibility of the data-entry
  • Efficient follow-up of the growth of the group
  • Strict deadlines are being respected

The situation

Van Reybrouck is an independent consultancy firm specializing in accountancy, tax and legal advice and corporate finance. In 2010, they were asked by Diversi Foods to accompany them in the setup of their first consolidation.

Van Reybrouck was thus looking for a reliable software solution, that could implement an efficient process to comply with the requirements of the group. Because of the expected growth and a possible acquisition by a private equity firm, the auditability and traceability of the data was one of the key selection criteria.

The solution

Sigma Conso met all the selection criteria of Van Reybrouck and was selected as consolidation software. After a practical training about the use of the tool, Van Reybrouck was fully independent to start the consolidation process. During the process, they could always count on the expertise of Sigma Conso.

The result

Consolidation & Reporting enables Van Reybrouck to count on a high-performance software solution to perform the consolidation of their client Diversi Foods and to accompany the client in their strong growth.

  • Auditability and traceability of the financial data

The implementation of the software guarantees a perfect auditability and traceability of the figures (on individual level). All the consolidation entries are tracked in the software and the history remains available to carry forward to the next period. Van Reybrouck also uses the Excel Add-in to automatically produce reporting in Excel.

  • Decentralized data-entry

The intuitive user interface makes sure that data import is decentralized and that the responsibility can be shifted to the local entities using local bundles. This ensures continuity with local accountings and simplifies the transition from local GaaP to Group GaaP, even though there are a lot of different ERP systems used within the Diversi Foods Group.

  • Efficient follow-up of the growth of the group whilst respecting the strict deadline

Diversi Food has grown extensively in a short time: the software makes sure that this growth can be perfectly supported by the software. Besides that, Van Reybrouck is capable to meet the strict deadline for the quarterly consolidation: at the end of the 2nd week, the bundles are being delivered by the entities and at the end of the 3rd week, the consolidated figures are available!

Mattias Van Reybrouck, Associate at Van Reybrouck, explains:

“As an external accounting office, for us it was really important to rely on reliable software that would offer us a perfect traceability of the figures. In 2014, our customer was acquired by a private equity group, with as a result some sales between companies, partial divisions, dividend payments, and so on. Sigma Conso consolidation software has enabled us to perfectly assist our client in this transition process.”

Kurt Braem, Consolidation Expert at Van Reybrouck, adds:

“Next to an efficient performance of the tool, we can always count on the expertise and support of Sigma Conso. It is immediately visible that the tool is designed by consolidation specialists, with an in-build logic that perfectly follows the different steps of a consolidation process. Next to that, we have also noticed that Sigma Conso has evolved tremendously in a couple of years and is working on a continue follow-up of the market requirements.”

Do you want to improve your consolidation and reporting process? Contact us today and we’ll take a look together at how you can reach your goals!