Optimisation of accounting processes for 3 countries at L'Oréal
Challenges
Forvis Mazars was appointed to support L'Oréal with the harmonisation of their internal accounting processes across 3 countries in Central Europe, including a transition from internal accounting function to external outsourcing under L'Oréal solution SAP. Set-up was different from one country to an other with some SAP modules which were neither efficient nor implemented at all, on top of some specific internal processes per country.
Solutions
Setting-up of a Business Process Outsourcing for L'Oréal financial accounting and tax compliance, under L'Oréal system SAP. The first phase was the stabilisation of Czech and Slovak accounting after decision of outsourcing the accounting function to Forvis Mazars. In the second phase, 3rd country was transitioned, adding Hungary to the new scope together with the implementation of SAP. Last phase was the optimisation of processes with high level of automation. Comparative study for 3 countries was done per process to identify differences and design new set of unified processes, according to both group and local requirements. New SAP models were set-up like electronic purchase orders and related work-flows, scanning of documents.
About the company
L'Oréal is a global cosmetics and beauty company with operations in over 130 countries, employing 50,500 people. It has developed activities in the field of cosmetics, concentrating on hair color, skin care, sun protection, make-up, perfumes and hair care.