Purchasing
Sales Operations
Product Article Master
Logistics
Finance
- Accounts Payable
- Invoice verification & posting invoices
- Making payments to vendors & queries
- Goods receipt and invoice receipt clearance
- Analyze vendor open line items
- Overhead cost invoices
- MIRO Posting
- Accounts Recievables
- Scheduling a dunning run
- Settling customer payments & queries
- Self-billing of customer’s invoice
- Bank reconciliation
- Customer Invoice Clearance
- Sales Order Booking
- Daily Credit Run
- Releasing Green Orders
Market Research
Cost Centre Analysis
Würth Business Services handles the non-core Sales Operations to support your Sales Team in achieving the targets and registering a significant business growth. We handle many processes to help your business accelerate the Sales and Operations Planning (S&OP) tasks. Our services are aimed at driving profitability and providing rapid solutions.
Among many processes we handle, Cost Centre Analysis is one of the processes. In this process, we evaluate the costs of different articles at different cost centres. In addition, we update the missing prices in the excel sheet.
Work Flow
WORK FLOW OF THE PROCESS
01. Log in
Log in to the Service Centre and export the cost-related data for different cost centres
02. Filter
Filter and update the missing costs as per the list provided by the sales representatives
03. Insert
Insert pivot table that includes article numbers and their prices
04. Send
Send the updated file through email
Benefits
Value-added
BENEFITS OF OUR CUSTOMERS
☞ Procure articles at lower costs
☞ Get updated information about missing prices
☞ Carry out exact billing as per updated data
Transition
TIME TAKEN FOR TRANSITION
Step 1
Analysis of requirements – 1 Working Day
Step 2
Analysis of requirements – 1 Working Day
Step 3
Tools Requirements – 4 Working Days
Step 4
Training Phase/Documentation – 10 Working Days
Step 5
Trial Submission – 4 Working Days
Step 6
Transfer – 5 Working Days
For more assistance in understanding the transition process, kindly get in touch with us at contact-wbs@wuerth-industrie.com
Case study:
Enhancing Cost Centre Analysis for Improved Financial Management
Introduction:
Cost Centre Analysis is a critical aspect of financial management, allowing businesses to track and manage expenses associated with different operational areas. Our customer, Würth Industrie Service GmbH & Co. KG, recognized the need to analyze the costs at different centres and save costs. This case study explores the manual process implemented by us to analyze costs across various cost centres. By manually updating and analyzing cost-related data, we ensure financial reporting and informed decision-making.
Problem:
Before implementing the Cost Centre Analysis process, the customer encountered several challenges related to cost management. The lack of a structured process for updating and analyzing cost data resulted in incomplete or inaccurate information about expenses incurred across different cost centres. Without a comprehensive analysis of cost data, the customer struggled to identify areas of overspending, cost-saving opportunities and overall profitability of individual cost centres.
Solution:
Recognizing the need to implement the Cost Centre Analysis process, we adopted a systematic approach to improve cost efficiency. Our key solutions included:
1. Data Compilation: The team logged in to the Service Centre and exported cost-related data for different cost centres to provide access to up-to-date financial information.
2. Data Verification and Update: Upon receiving the data, the team meticulously reviewed and updated missing costs based on the list provided by sales representatives, ensuring data completeness and accuracy.
3. Analysis and Reporting: We inserted pivot tables to organize and analyze cost data, including article numbers and their prices, providing valuable insights into cost distribution and trends.
4. Communication: Once the analysis was complete, we compiled the updated file and communicated the findings and insights to relevant stakeholders through email, fostering transparency and collaboration in financial management.
Results:
The implementation of the manual Cost Centre Analysis process yielded significant improvements in cost management and financial reporting:
Data Accuracy: By manually verifying and updating cost-related data, the customer achieved a considerable accuracy rate in financial records, reducing errors and discrepancies.
Improved Insights: The detailed analysis facilitated by pivot tables allowed the customer to gain deeper insights into cost distribution, identify areas of overspending and explore opportunities for cost optimization.
Informed Decision-Making: Armed with accurate and insightful cost data, the customer's management made informed decisions regarding resource allocation, budgeting and cost control measures, leading to improved financial performance.
Conclusion:
By transferring the Cost Centre Analysis process, we addressed challenges associated with cost management and financial reporting. Furthermore, detailed data verification, analysis and communication enabled the customer to gain valuable insights into cost distribution and make informed decisions.