STAS produces trailers for customers all over Europe. The company experienced strong growth, with expansion abroad. Different accounting packages and currencies make data collection and analysis very complex. Therefore, the company was looking for a user-friendly, umbrella platform for the analysis of financial and operational data. Six months after the implementation of BrightAnalytics, reporting runs like clockwork.
STAS makes trailers with various options tailored to the customer. In doing so, it responds to the current needs of the agricultural sector, the construction sector and the recycling industry: an example of Belgian manufacturing that sets the standard for manufacturers worldwide. Their sense of innovation and high quality standards are paying off, as the company has built a strong dealer network throughout Europe.
After more than 100 years and 3 generations, in 2015 STAS confirmed its strong position with new branches in Germany and Romania.
Excel formed the core of the reporting at STAS. With the foreign branches, other currencies and accounting packages came into the mix. Working with spreadsheets became untenable. Because of this, the company was looking for a faster and easier management reporting platform.
The search for a user-friendly platform brought STAS to BrightAnalytics. “For us it was the perfect choice immediately,” says Gilles Desmet, responsible for Product & Finance. “For example, a conversion module from euro to Romanian lei was available. That practical problem solved itself.”
What’s more, the accounting package from Romania was a new system for BrightAnalytics. Nevertheless, the developers managed to integrate the package without any problems. “The startup there went smoothly, despite the complex situation.”
Six months after the implementation, STAS has already noticed the positive impact of BrightAnalytics in its daily operations. “We have an up-to-date, clear overview of our sites to compare. In the executive committees, we interpret them easily using the visualizations in the dashboard. The challenge of simplifying Excel has absolutely succeeded.”
Both financial and operational management are driven by the analyses. A major budgeting exercise follows at the close of the fiscal year. This includes a deeper analysis of the KPIs. “With BrightAnalytics, we can find informed explanations for anomalous results, such as under- or over-budgeting.”
BrightAnalytics has transformed reporting at STAS from a necessary evil into a handy tool. That includes for those who have no financial knowledge. Gilles Desmet: “In the past, we all filled in the Excels on Sunday evening for a new working week. This resulted in mistakes and conflicts in the different versions. Now we avoid typing errors and focus entirely on interpreting the data. BrightAnalytics is a strong aid for risk management, from small businesses to very large ones.”