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Reference case

From temporary support in bookkeeping to crafting process improvements at Volvo Car Gent

15 May 2024
In a nutshell
  • Bookkeeping Consultant Yannick replaced a staff member in the tax department at car manufacturer Volvo Car Gent
  • Taking over operational tasks and crafting process optimizations, automations, and process documentation
  • Maximum value for Yannick and the customer is ensured by the TriFinance network's just-in-time training and guidance

When a staff member in the tax department at Volvo Car Gent left the company, Bookkeeping Consultant Yannick Annaert was brought in to provide temporary support. It soon became clear because of his external viewpoint, that there were several chances to optimize, automate, and document procedures in addition to offering operational help to cover the responsibilities of the departing employee. Yannick was also given the opportunity to tackle these challenges. This led to a productivity boost in the company's tax department, allowing employees to focus more on higher-value tasks.

Volvo Car Gent is one of the two European plants of Volvo Cars and a subsidiary of the Swedish Volvo Car Group, headquartered in Gothenburg. With over 7,000 employees, Volvo Car Gent is the largest industrial employer in Flanders. The site in the port of Ghent consists of a welding plant, paint shop and final assembly. In 2023, 230,527 cars were produced. Since 2020, the Ghent plant has been building the first all-electric Volvo, the XC40 Recharge. The other models currently being produced in Ghent are the C40 and V60.

From operational support to process optimizations

"At the start of the project, my focus was mainly on the operational tasks of tax compliance, such as submitting various tax declarations (VAT, intracommunity declaration, intrastat, corporate tax), answering various VAT-related questions, providing support in insurance and claim files... Once I had these things under control, I could focus more on developing the optimizations and automations I had identified in the meantime. In addition, I worked on documentation so that, after my job is finished, the new permanent employee may take over without any problems," says Yannick.

Once I had the operational aspect under control, I could focus more on developing the optimizations and automations that I had identified in the meantime.

An external perspective and taking on a new set of tasks always brings optimization opportunities. Daily routines can conceal efficiency issues. A consultant can quickly identify these pain points and offer concrete suggestions for process improvements. This is essential not only for continuity during absence but also for sustainable optimization of financial operations within the company.

Automated merging of reports

One of the optimizations Yannick identified was automating reports for monthly VAT returns. "There was still a lot of manual work involved in exporting VAT reports, AP and AR reports, customs reports... from SAP and merging them in Excel. By using Power Query, the same filters and formulas no longer need to be applied to the reports each time, and the reports are automatically merged. I also added some checks, for example, whether the correct tax code is correctly linked to a certain type of invoice based on criteria such as supplier, material code, or GL account. This not only saves a lot of time but also reduces the margin of error and allows more time to focus on entries that require extra attention."

By using Power Query, the same filters and formulas no longer need to be applied to the reports each time, and the reports are automatically merged.

Training and tailored support for project needs

"As a consultant, I approach every project with a solution-focused and constructive critical mindset. The TriFinance network also plays a crucial role in this. Before this project, I had some experience in Accounts Payable but no experience with Power Query. Through regular discussions around the project with the internal BaseCamp team and my mentor, we were able to identify process optimizations and develop an action plan. I then attended training sessions to start using Power Query. Being able to immediately apply that knowledge in practice is the best way to truly master it. I could turn to my mentor for specific questions. This allowed me to learn a lot in a short period and also provided significant value to my client. That's what being a consultant at TriFinance means to me," concludes Yannick.

I took training courses that I could immediately put into practice and was able to turn to my mentor when I had questions. This allowed me to learn a lot in a short period of time, but also meant a great added value for my client.

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Picture: copyright Volvo Car Group, Corporate Communications

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