One of CAF's core objectives is to create sustainable transport systems


The client

CAF is a multinational group with over 100 years of experience in the supply of comprehensive transit solutions positioned at the forefront of technology for high value added sustainable mobility.

The publicly traded company is headquartered in Beasain in Spain and currently employees more than 11.000 employees around the world.

The company offers comprehensive global rail solutions which, in addition to the supply of trains, includes viability studies, civil work, electrification, signalling, maintenance and system operation in some cases. With factories in France, UK, Brazil, Mexico and USA, CAF is a true global leader in sustainable railway systems.

One of CAF's core objectives is to create sustainable transport systems. The company's vision is to respond to new social demands for sustainable mobility. Since CAF was founded, it has been noted for its versatility, flexibility and for its capacity to constantly adapt to the requirements of each and every customer, in all areas.

Business challenge

CAF is maintaining business operations within and across seven European key markets. In order to better streamline their accounting-related processes for all European subsidiaries, the company has harmonized all internal accounting services within a centralized competence center in Bucharest, Romania. This allows CAF to provide inter-company reporting as well as valuable insights back to the Group in Spain much faster and out of a single source.

The competence center in Romania has got the experience to effectively follow the specific accounting regulations from individual European countries to successfully complete the monthly bookkeeping. Yet, CAF needed to partner with a local professional services firm in Germany in order to submit the quarterly VAT reports to the German authorities.

While receipts and invoices of monthly business transactions are collected almost on a daily office directly from CAF Germany’s office in Munich, CAF Romania is processing all received information in order to finalize the monthly accounting work. 

After finalization, all processed booking entries should be now shared with the local partner. The goal of CAF was that the exchange of all processed data should take place electronically in CSV format in order to avoid redundant work and to keep the process as efficient as possible. The local partner would then ideally 

  • import the received booking list seamlessly into their ERP system
  • validate the bookings against all submitted invoices and receipts and checks for completeness
  • make sure that all bookings are aligned with German bookkeeping standards
  • align on potential questions and additional requirements
  • create a quarterly VAT report to be submitted to the German authorities

Our approach

Our customer success team worked intensively together with CAF over a period of time to find the best possible solution to seamlessly exchange accounting-related data between CAF Germany, CAF Romania, as well as with Consultinghouse.

Online Services

Consultinghouse is providing its customer portal “MyDashboard” to faciliate the exchange of invoices and receipts between CAF Germany and CAF Romania. Invoices in PDF format are seamlessly drag’n dropped to the portals homepage. 

Once uploaded all required information is automatically extracted from the invoices by leveraging Consultinghouse’s AI-powered online platform. CAF Romania can now easily find all information in order to effectively complete the quarterly booking list. Right after the booking list is finalized, the list in CSV format will be easily uploaded again to Consultinghouse’s customer portal. Upon upload CAF’s dedicated senior accountant from Consultinghouse receives a notification informing the accountant that all data are now available and ready to be submitted to the German authorities.

Consultinghouse’s online platform “MyDashboard” is hosted in Germany to meet all security requirements with regard to the storage of receipts and invoices. 

  • Professional Services
  • Quarterly VAT reporting
  • Quarterly Trial balance reporting
  • Balance Sheet year report
  • Management report
  • VIES reports

The outcome

Consultinghouse knows that the traditional bookkeeping will be becoming even more data driven in the near future. For this reason we have introduced new online services that are powered by innovation and new technologies like artificial intelligence in order to better manage the data of our valuable customers. However, we also see that technology alone is not the sole answer to meet the very individual and demanding business needs of our enterprise customers. 

For this reason, Consultinghouse is always assigning a dedicated senior accountant as the main point of contact to jointly work with our small, medium and enterprise customers to make them successful. This balanced combination of an experienced accountant who is supported by AI-powered technology is essentially creating greater value for CAF.

For more information about CAF, please visit www.caf.net

 

Let us be a part of your success story

Andreas Wilke

Owner

+49 6181 250 330

 

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Why us?
  • Strong experience in supporting foreign companies to develop their business in Germany
  • Our clients success is our success. Our objective is to grow along our clients
  • We are family owned. Our long- term perspective allows for good strategy and decision-making

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