One of the leading retail and tourism groups in Germany and Europe
With approximately 380,000 employees in 21 countries and an annual revenues of nearly 85 billion euros in 2022, the REWE Group is one of the leading retail and tourism groups in Germany and Europe.
The acquisition of the European division of Kuoni Holding by REWE in autumn 2015 means that several tour operators are now part of the DER Touristik division. The objective: to smoothly continue with the main treasury processes from the day of the closing. These include the group-wide financial status at the press of a button, calculating the FX exposure and the existing processes for FX management. The particular challenge here lay in the limited implementation time of just four weeks which was available for this carve out.
The key to the successful project implementation was the transfer and use of status positions and FX hedges from existing systems. After a clear definition of the content, the required data was automatically transferred and additional information was added where necessary. In addition, all data was immediately forwarded to REWE's internal systems (SAP BW, SAP TRM) to enable straight-through processing. Furthermore, REWE was provided with a set of customized reports that allow their treasury to flexibly analyze the financial status and FX exposure at the push of a button. Thanks to the user-friendly design of the system, integrating users is effortless, which enabled REWE to fully cover this essential step in a short period of time as well.
The most important success factor was the great commitment of all those involved at Kuoni and REWE, which was crucial in order to meet the ambitious schedule. Much to the delight of the Management Board, the target was reached by the day of closing and the complete financial status and FX exposure were presented.
- Complete system carve out within four weeks
- Development of an interim solution for the transfer of hedge transactions to the REWE Group
- Development of six interfaces for integration into the new system landscape
- Modification and expansion of reports based on REWE Group requirements
"Nomentia quickly provides us with an overview of the financial status of acquired subsidiaries. The perfect solution when you need speed at a fair price!"
Helmut Schäfer, Head of Treasury Controlling, REWE Group