Case Study
Development of controlling structures at e-commerce world market leader
Preparation for SPAC-IPO
Company Details
- Young e-commerce world market leader for cycling and tennis equipment with a buy-and-build strategy; rapidly growing market shares in outdoor and team sports sectors; COVID as an additional growth driver
- Sales 2021: 1.6 billion USD, > 3,000 employees (incl. acquisitions)
Situation and Challenge
- Introduction of controlling structures, lean holding company (accounting/consolidation and strategy/fundraising only)
- NYSE-IPO via SPAC, scheduled for the end of 2021, as well as group-wide SAP S4/HANA implementation
- Company has only limited IPO-readiness in early 2021 – very young, immature organization; insufficient management experience
Objective and Task
- Development of holding/group controlling structures and processes with a focus on IPO
- Introduction of a uniform management reporting system at holding level
- Support group-wide SAP S4/HANA implementation
- Support group-wide data strategy project (BI/Data Virtualization)
Measures and Procedures
- Introduction of shareholder-oriented management reporting based on uniform IFRS figures
- Automation of processes for the collation of monthly PowerPoint presentation at subsidiaries; integration of a system-supported quarterly forecast
- Conception of FI/CO harmonization initiatives for the SAP S4/HANA implementation
Results and Achievements
- Implementation of management reporting, including generic interface for subsidiaries
- Shortened monthly closing process, including system-supported forecast during introductory phase
- Ongoing implementation of SAP CO concept for future management of the group
- Handover to new permanent incumbent
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