When it comes to software a lot of empty promises are made but BrightAnalytics was an exception to the rule.

- Stefan Inslegers, CFO Euroglas

Software that lives up to expectations

Many companies use Excel as a financial reporting tool. But after a while, they find that Excel doesn’t offer the kind of flexibility they need and is far too labor-intensive. Bornem-based Euroglas DL group found this out first-hand and that is why they switched to BrightAnalytics in early 2020. “An investment that has paid off in spades”, according to CFO Stefan Inslegers.

“When I joined the Euroglas DL group in October 2019 the reporting was done entirely in Excel”, Stefan explains. “As far as form was concerned it met our needs but the reporting process was very labour-intensive: it required a lot of manual work. Moreover, it was hard to cast the reporting process in a different mould or to look at the figures from a different angle. To remedy the problem we went in search of a professional tool.”

He queried the market and after a short search he opted for BrightAnalytics. “I was familiar with the tool from a previous job in the printing industry and I had had nothing but positive experiences. As a result I didn’t have to think very long: I knew BrightAnalytics and I had every confidence in its potential. The investment fund that we are part of is also a fan and that was an extra asset. Several of their participations work with BrightAnalytics. Naturally it’s convenient for them if they all use the same reporting tool.”


Operational in six weeks


Initially, the Euroglas DL employees who would have to use the new tool were a bit skeptical about the idea. “Of course, change is never easy”, says Stefan. “Also, when it comes to software a lot of empty promises are made but BrightAnalytics was an exception to the rule. The final implementation comes really close to the solution they sold us. Actually, the implementation went much smoother than I expected. All we had to do was establish a link between the general accounts in our accounting system and the reporting lines in BrightAnalytics. The rest of our reporting procedure has remained intact for 95%. I expected the process to take several months but it only took six weeks to get our first report. It’s no wonder that our employees took to BrightAnalytics like a duck to water.”


Today, Stefan and the CEO, two accounting staff members and all three plant managers use BrightAnalytics. Everyone has access to the same data although the plant managers only have access to the data of their own site. “For them and for us this is a giant leap forward. Before they had a single static page in Excel that they couldn’t manipulate. Nowadays at our monthly meeting we can all analyse the figures in detail, right down to the invoice level or the details of a specific entry. What’s more, analysis of the reports also enables us to identify those cost aspects that should be analysed in more detail.”  


Investment recovered in no time


According to Stefan it doesn’t take long at all to recover your initial investment. “On the one hand because you’re replacing your manual input in a non-automated sheet with automated, professional reporting, and on the other hand because it’s easier to analyse certain costs, distil action points and eventually realise savings. The fact that it’s simpler to look up data in BrightAnalytics than in our accounting package Navision, which is actually an ERP package, only adds to the ease of use.” 


That is why, in addition to the current financial reporting on a company and group level, he is determined to keep using the possibilities of BrightAnalytics to upscale the group’s efficiency even further. The next step is the automatic consolidation of the figures because at present the intercompany transactions are still filtered out manually. So definitely to be continued...

We recovered the cost of the package in just a few months.

- Stefan Inslegers, CFO Euroglas

Stefan’s number one tip for those considering a similar project:

“It helps to already have a model reporting system before the implementation of BrightAnalytics. This gives you an excellent idea of what the new reporting should look like and of which things you want to be able to report.” 
 

  • Great ease of use
  • Flexible reporting
  • Accessible down to the smallest detail
  • Fast and trouble-free implementation
  • Smooth collaboration, excellent service

⭐⭐⭐⭐⭐

The company was founded in the 1900s by the family De Landtsheer. After taking over Safetyglass in Fleurus at the start of the 21st century, Euroglas DL was itself taken over by an investment company in 2016. In 2017 the public limited company IGP joined the group. Together with their investment company, the specialists in smooth safety glass, layered and tempered glass opted for BrightAnalytics as their financial reporting tool.

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