GFP ROADMAP
New strategy
Global Finance & Procurement (GFP), a new function founded as part of ONEGLOBE, convened its first strategy conference in Berlin – and defined four key strategic objectives to be achieved by 2024, including accompanying initiatives.
The new strategy will help our finance experts tackle the new opportunities and challenges arising as KWS grows its business internationally. GFP will drive a variety of initiatives that are integrated in KWS’ overall strategy and are intended to support the Business Units’ growth and secure the company’s sustained financial stability.
Data, not gut instinct
Eva Kienle from the Executive Board kicked off the meeting, which was attended by around 60 experts and managers from Germany and abroad, by presenting KWS’ main strategic objectives in the context of GFP’s new strategy. One major topic is digitization and standardization of processes. “We need a reliable and agile IT platform that enables us to make decisions faster and more simply.”
That requires resilient data that can be called up in real time. Where gut instinct used to play an important role in reaching decisions, data is to form a more reliable basis for that in the future. Eva Kienle added that it is important to have consistent standards and definitions for master data throughout the group. “Then we can leverage the full potential of digitization at KWS.”
Mistakes are allowed
The new strategy for GFP creates transparency and certainty. “Employees can make far better decisions on their own if they know where we want to be heading,” said Rainer Krug in opening the conference and putting his finger on one of its key goals. He added: “And you can also make mistakes – that’s the best way to make sure you do something right the next time.” The task of managers is to define the framework and monitor accomplishment of the tasks.
The active involvement of participants at the conference was a particularly important aspect. They were able to use Mentimeter – an interactive presentation software – to answer various questions. Elements of GFP’s strategy were fleshed out in depth in groups and then presented so as to create a better common understanding.
Rainer Krug presented the main objectives of KWS’ Global Finance & Procurement strategy to 60 managers in Berlin
Implementation in January
Finalization of the strategy will now be followed by its focused implementation in January. All Finance and Procurement employees worldwide will be informed of that in the next few weeks. Everyone is welcome to get involved in implementing it over the coming years – across country and team boundaries.
Rainer Krug calls for a spirit of cooperation and personal initiative as part of that: “We’ll have to strengthen cooperation internally and with adjacent units in order to implement our strategy.”
The principles of cooperation in the GFP team will doubtless prove a great help there. They are founded on trust in the abilities of others, individual freedom of action, and proactive work.
GFP now has a lot of work ahead of it: All the strategic objectives are to be achieved by 2024. |
1
Start
- Umfrageauswertung
- Vision, Mission, Grundsätze
- Entwurf der strategischen
Prioritäten
2
Strategy development
- Relaunch with the inclusion of Procurement
- Draft of the strategic objectives and initiatives (February/March 2019)
- GFP Strategy Workshop (June 2019)
3
Completion
- Preliminary alignment within the group and Global Functions (September 2019)
- Presentation to the Global Leadership Team (November 2019)
- Global Finance Conference (November 2019)
4
Finalization and communication
- Finalization and communication of the strategy
- Notification of the Global Transaction Centers (December 2019)
- Presentation of the results in Eastern Europe and the Americas (December 2019)
5
Implementation planning
- Review of implementation in 2020 and milestones (January/February 2020)
- Definition of key performance indicators
6
Rollout
- Quarterly review of the processes (March 2020)
7
Implementation phase
GFP’s four strategic objectives
1.
Integrated, timely provision of financial information
Up-to-date, consistent financial information is the basis for efficient corporate controlling and helps a listed company fulfill transparency requirements. Financial information is to be recorded consistently in the future and be made available much faster thanks to the SAP HANA platform. It will also deliver a much better means of analyzing the data. In addition to the usual quarterly and annual financial statements, monthly statements will also be possible, increasing transparency.
2.
Ensuring liquidity
Effective risk management is intended to reduce financial losses and so safeguard financing of KWS’ business operations on a permanent basis. GFP aims to control risks better in the future by means of a treasury management tool. A Treasury Center is to be established in order to further optimize the financing structure and create standards. It will also be available to advise the Business Units.
3.
Global tax management
The world of taxes is complex – especially for global companies like KWS. GFP aims to set up a tax team in charge of global tax management. At the same time, the team will identify tax disadvantages and thus reduce and keep down the group’s tax rate.
4.
Greater savings through optimized procurement
Diverse measures will create transparency on our expenditures worldwide and help us reveal the potential to cut costs. Category management, which will also include supplier partnerships, for example, will then enable us to reduce what we spend on goods by at least two percent every year.
© KWS SAAT SE & Co. KGaA 2025
