5 Countries 1 Platform SEMINAR Lessors in Central, Eastern and South-Europe

Transcription

1 2010 SEMINAR Lessors in Central, Eastern and South-Europe

2 Introduction Development and advantage of a multiple country platform Where we come from / Issues to overcome / Lessons learned Outcome Finance and Controlling Structure & Synergies Accounting Advantages of a fully integrated system Processes & Opportunities Possible strategic moves BAWAG PSK Leasing Bereich Titel 7Sep07 2

3 Key facts & figures BAWAG PSK Leasing Group BAWAG PSK Leasing Group is a first-class universal leasing company on its markets Offering Movables, Vehicle and Real Estate Leasing 2 services: Insurance & Fleet Management 3 distribution channels: Bank, Direct, Vendors Warsaw (PL) 100 % Shareholder BAWAG PSK Bank Management: Alexander Schmidecker & Rudolf Fric Number of employees: 201 Equity (IRFS cons.): 69,7 mn Outstanding volume: Present value gross mn Number of contracts: Number of clients: Prague (CZ) Bratislava (SK) Budapest (H) All figures as per BAWAG PSK Leasing Bereich Titel 7Sep07 3

4 Introduction Development and advantage of a multiple country platform Where we come from / Issues to overcome / Lessons learned Outcome Finance and Controlling Structure & Synergies Accounting Advantages of a fully integrated system Processes & Opportunities Possible strategic moves BAWAG PSK Leasing Bereich Titel 7Sep07 4

5 Where we came from What is the new system Previous IT System was: Purely Austrian Hosted by a third party Not offering possibilities to administer different tax and legal environments Single lingual New IT solution is: Fitting to the group goals Fully integrated, end to end IT-tool (from offer to end of term, incl. accounting, reporting etc.) Providing interfaces for customers, shareholders, partners, suppliers etc Multi-lingual, multi-currency, multi-company (SPV s etc.) and multiproduct Fitting to BASEL II requirements (reporting needs, showing group exposure etc.) Lessons learned & Issues to overcome Legal (Data storage, Requirements of Authorities) Tax and Accounting (VAT, FX-topics, Different rules for similar services) Operational (Language issues, Resources for projectmgmt., Testing resources, Supplier management, Requirement specification) BAWAG PSK Leasing Bereich Titel 7Sep07 5

6 The Outcome Contract L ife cycle Quotation Decision Administration In-L ife S ettlement / T ermination R emarket Asset Administration Business Partner Administration Central Functions Quotation Interface to the integrated or external Accounting Systems AR AP Payment Front-Office-Modules Equipment Finance Central Database Information Server (Data) Collection Vehicle Finance GL Back-Office-System Fleet Services Business Server Finance Reporting Real Estate Finance Screen layout, validation, languages E xpandable data model Interfac es Refinancing Funding Calculation, validation and tax & legal Rules for accounting rec ords Banking Registration BASEL II Sales Jato / EUROTAX External Systems Interfaces G UI-pres entation Structures Interfaces Process data Accounting BAWAG PSK Leasing Bereich Titel 7Sep07 6

7 The Outcome One single database instance for The whole life cycle of the contract Multiple lines of business (equipment, vehicle, fleet, real estate) Multiple countries (Austria, Hungary, Czech Republic, Poland, Slovakia) Country specific tax & legal Multi currency & Multi language Controlled by parameters Same basic screens country specific validation and language Same basic functionality country specific tax & legal requirements Same accounting system country specific posting rules One data structure All this results in one unique data source for reporting BAWAG PSK Leasing Bereich Titel 7Sep07 7

8 Introduction Development and advantage of a multiple country platform Where we come from / Issues to overcome / Lessons learned Outcome Finance and Controlling Structure & Synergies Accounting Advantages of a fully integrated system Processes & Opportunities Possible strategic moves BAWAG PSK Leasing Bereich Titel 7Sep07 8

9 Structure & Synergies Finance Department 5 Countries 1 Platform Already exploited synergies Single source of data Basel II reporting out of integrated system Consolidated group exposures is readily available All controlling reports done without redundant sources IFRS and local GAAP accounting records All data on disposal at any time for/from HQ BAWAG PSK Leasing Bereich Titel 7Sep07 9

10 Accounting Advantages of a fully integrated system 5 Countries 1 Platform All business processes are booked overnight Changes in contract-management system are shown in accounting system immediately after processing Workflow is audited (no manually influences possible) Each process in contract-management system has defined accounting records (IFRS & local GAAP) Finance and operating leases are separated (no reclassification needed under IFRS 17) All products/services are booked and reported out of contract-management system (drill down on single contract) Finance lead & control is in the headquarter BAWAG PSK Leasing Bereich Titel 7Sep07 10

11 Processes & Opportunities currency and local currency is double booked All policies are created/valid/controlled by headquarter for the entire group IFRS consolidation of leasing business could be done within 12 working days Complete controlling processes are driven from Austria (excepting local regulatory reporting) data are transferred each ultimo per month into leasing data warehouse Logic of IFRS and local GAAP follows general group rules advantage for reporting and support Headquarter decisions are mirrored in all entities BAWAG PSK Leasing Bereich Titel 7Sep07 11

12 Introduction Development and advantage of a multiple country platform Where we come from / Issues to overcome / Lessons learned Outcome Finance and Controlling Structure & Synergies Accounting Advantages of a fully integrated system Processes & Opportunities Possible strategic moves BAWAG PSK Leasing Bereich Titel 7Sep07 12

13 We are a Full Service Leasing Provider: Cars Fleet Service Equipment Real Estate Our CEE part emerging market: 64 mn population Large potential Investing in employees CEE-Portfolio: 10 % Austria: 8 mn population Mature market BAWAG P.S.K. Leasing: Headquarter Cost & efficiency wise best in class (350 contracts per employee industry average 250) Administration platform 1 Platform 5 Countries: Risk Management, IT, Accounting, Processing From a late mover to a possible bench marker? CEE Austria BAWAG PSK Leasing Bereich Titel 7Sep07 13

14 Organizational structure Holding structure vs. Headquarter-lead-function / usage of synergies within the group Possible strategic moves Exchange of operational resources, know-how and best-of-breed processes Enabling new product introduction across borders Seamless client support and reporting across countries Intensify the reporting, accounting and controlling Centralized accounting and/or back office structure -> delivers cost savings BAWAG PSK Leasing Bereich Titel 7Sep07 14

15 Thx for your attention