An education company with around 90 companies in 20 countries that operates throughout Europe
Education administration programs
With around 90 companies in 20 countries, the Klett Gruppe is an education company that operates throughout Europe. The Group is strictly decentralized. The portfolio includes classic and state-of-the-art educational media for day-to-day use in schools as well as lesson preparation, specialist literature, and the classics.
In addition, the Klett Gruppe operates numerous educational institutions ranging from daycare centers to schools and universities. In 2021, the Group generated a revenue of EUR 985.4 million and currently employs more than 9,400 people.
Nomentia was already rolled out in the treasury department of Ernst Klett AG back in 2009. Besides an exchange rate and SAP interface, six reports were also set up – each specially tailored to Ernst Klett AG. It was possible to go live with the solution after just one day of training and direct support on the first reporting day. Since the implementation, it has been possible to capture the groups entire financial data into a centralised database, which allows to prepare regular financial status reports for the entire group with just a few mouse klicks. In 2015 the decision was made to update to Version 3.1. The goal was to be able to prepare even more specific reports as well as more comprehensive and direct analyses.
During the update process, not only the new dynamic account management was implemented, but also nine new reports and two analysis reports were set up for financial status and cash flow forecasting. The project was wrapped up after only two months with a training video specifically made for the Klett Group. The new solution layout, which is similar to MS Office products, makes the user experience even better and the use more intuitive, thereby creating a sound basis for the introduction of more detailed currency-specific forecasting. The smooth use of Nomentia combined with the latest Microsoft products is the key to group-wide acceptance among users.
- Rolling currency-specific forecasting for the next 12 months
- Complete financial status reports available daily, with fully automated capturing of account balances
- Overview and in-depth info about FX and interest rate transactions as well as letters of credit and guarantees
- Eleven status reports, four planning reports, and two analysis reports
“It’s amazing how transparency can be achieved so easily, even in decentralised organisations. Plus the excellent service from Nomentia: Simply top!”
Michael Riedel, Head of finance, Klett Gruppe