Our Excel reporting became increasingly confusing and complicated. That became untenable.

-Caroline Vergotte, CFO
"What immediately stood out about BrightAnalytics, was that it was a very visual, and graphically strong solution."
- Caroline Vergotte, CFO

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Modules in use

Always a direct consolidated result

When you are not only operating internationally but also have four companies in four countries, accounting and reporting does not get any easier. That’s the challenge Vincent Logistics faced. When the company’s reporting needs exceeded their Excel cap, they made the switch to BrightAnalytics. Today, with one click of the mouse, they can conjure up the latest consolidated figures. And that from four accounting packages and on three levels.

“Vincent Logistics is a logistics and transport company with entities in Belgium, Luxembourg, the Netherlands and Slovakia,” Caroline Vergotte begins. Together with her husband, she runs Vincent Logistics. “We want to be able to track the performance of our companies, but this is anything but simple: not only are we working with data from four different accounting packages, each country also has its own accounting legislation. In addition, we want to be able to filter intercompany transactions out of the data easily.”

Until recently, Vincent Logistics worked with Excel for this purpose. “Our reporting, however, became increasingly confusing and complicated, with parameters coming from all directions and extremely sensitive, complex formulas. This was becoming untenable. Intercompany transactions also had to be extracted from the figures manually, which did not always work. As such, there was no complete and correct consolidated result. That meant we always had to interpret the figures carefully, and could never rely on them 100%.

Tailored automatic cost allocation

Vincent Logistics was looking for a tool that could help. It was the company’s bank that, at a certain point, advised them to sit down with BrightAnalytics. “At that point I had already looked at a number of possible tools, but had not yet found the right solution for our business,” says Caroline. “Either they were too big, and therefore too expensive for us as an SME, or they couldn’t answer our request for direct consolidation. After sitting down with BrightAnalytics and seeing the demo of the tool, we found what we were looking for.”

Accountant Christine Bronckart joins her: “What immediately struck us, was that it was a very visual and graphically strong solution. We were also able to configure BrightAnalytics according to our needs. We use three levels of analysis in our accounts: we want to be able to analyse data on the basis of our fleet, transport categories, and fuels. Our reporting needed to be in line with what we had been doing in Excel up until then, but easier, faster and error-free. BrightAnalytics eventually incorporated our P&L from Excel into the tool, including a customized automatic cost allocation for costs that cannot be allocated to a heading.”

Define your own additional ratios

For IT project manager Christoph Mennicken, who was responsible for the preparatory analysis and mapping, the ease of use of BrightAnalytics also stands out. “The tool is very intuitive. Moreover, we can click through to the smallest detail. Even down to the scanned invoice! Comparing budget figures with actual performance is quick and easy. What’s more, we can exclude intercompany invoices with one click. The comments function ensures that the accountants can explain striking figures in the monthly reporting for the management. Handy!”

He also considers the fact that – after a half-day training course at BrightAnalytics – he himself can define and create additional ratios that the company wants to monitor to be an important asset. “This ensures that we can properly monitor the most pertinent issues for our company. Covid-19, for instance, has allowed us to pay more attention to certain parameters than we usually could. It’s very easy to see them on the screen, without having to rely on an external programmer. And BrightAnalytics helps us with questions or problems. They are quick to respond, very dynamic, and have always found a solution so far. It’s a successful partnership!

Caroline Vergotte’s (CFO) tip for anyone considering a similar project:

“Prepare yourself well if you want to introduce a reporting tool: what do you want to get out of the tool? How do you get the information from various accounting packages into the tool? And how do you build up your reporting consistently and logically? This takes time. Don’t work quickly, but thoroughly. BrightAnalytics will then be able to adapt quickly and your solution will be up and running in no time.

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The advantages of BrightAnalytics according to Vincent Logistics:

  • Very visual and graphically strong
  • Adaptable to the needs of the company
  • Extremely intuitive
  • Clicking through to the smallest detail
  • Handy comment function to clarify figures
  • No external programmer required for additional ratios

Wondering what BrightAnalytics can mean for you?