"I work in the financial area for 16 years, during which I have taken part in tens of projects, directly or indirectly. Most of the projects were realized by joint cooperation among teams of internal experts and external consultants. The only project, yet, which I realized together with Aspiro, was at the same time my most successful one.
Due to my previous experience I felt the need to find a consultancy which: 1/ has the potential and capacity to realize a professionally demanding project, 2/ can keep the solution of a difficult topic straight-forward to ensure effective processing and future maintenance, 3/ can deliver the solution under a tight deadline when needed, 4/ will use internal capacities only to the unavoidable extent. Thanks to the selection of Aspiro, all of my expectations have been fulfilled."

--
Ing. Norbert Strieženec, CFO
VOLKSBANK Slovensko, a.s.

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Volksbank Slovensko - Activity Based Costing Implementation Project
(in SAP PCM BO environment)

(15.4.2011) Aspiro’s role was to deliver the methodology part of the ABC model and interpret the findings for Volksbank’s management:

  • Volksbank is currently facing challenges related to the global economic crisis and also the situation in the parent company. In this context Volksbank focuses on activities, which will bring immediate results and improve the financial situation of the company
  • Besides other activities, Volksbank has decided to implement a tool for cost and profitability management, which was to be based on the Activity Based Costing (ABC) methodology
  • The ABC solution was to be implemented in a standard SAP environment in cooperation with an external partner
  • For the project realization, Volksbank invited New Frontier SK with Aspiro as a subcontractor
  • The goal of the project was to provide relevant information to representatives of Retail and Corporate Banking departments, that would help them to make right business decisions about products, parameters, processes, etc.

Aspiro was responsible for creating the internal logic of the ABC model – from structures and allocations to reports and approaches to results interpretation. All of the proposed model structures were presented and approved by representatives of Volksbank’s management. As a result, Aspiro has created a model for year 2010, validated and interpreted the results. Aspiro has also played a crucial role in supporting the results acceptance by presenting them to board members and representatives to Retail and Corporate Banking departments. The model was finished before the official SAP PCM model implementation, which allowed to keep the deadlines for model results interpretation. For the following two years, Aspiro will provide assistance to the Controlling department during quarterly model updates.

Note: Volksbank Slovensko, a.s. has had a successful track record in Slovakia since 1991. The main shareholder of Volksbank Slovensko is the Austrian company Volksbank International AG (VBI). Volksbank Slovensko has more than 600 employees. Client deposits during the time period 2008-2009 were 1,18 bn EUR and client loans 980 m EUR. This ranks Volksbank among the middle sized banks on the Slovak market. The ambition of Volksbank is to become a profitable retail bank with a balanced product portfolio.

This information has been published with the consent of Volksbank Slovensko, a.s.

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