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Volkswagen Financial Services AG (VW FS AG) is one of the largest financial services companies in the automotive sector.
The financial market crisis, which was characterized in particular by liquidity shortages, caused a substantial and sustained increase in liquidity costs (spreads), which posed various challenges to VW FS AG from a liquidity perspective. For its international subsidiaries, the controlling concept already implemented was therefore extended to include the explicit consideration of liquidity costs. In order to ensure consistent application throughout the group, this feature was implemented in the operational business of all international subsidiaries in cooperation with zeb. The implementation achieved the following objectives:
At first, during the concept phase, we established the essential methodological cornerstones. The focus was on the following further activities:
Subsequently, we prepared the rollout for the international subsidiaries. In this context, the composition of the two project teams proved to be particularly important.
In the first step of the rollout, VW FS AG initially implemented the extended controlling concept in the pilot markets. The following tasks were carried out on site:
Once the optimization potential identified in the pilot phase had been realized, the extended controlling concept was implemented in a further 18 international subsidiaries of VW FS AG.
The extended controlling concept was implemented uniformly throughout the group in the international subsidiaries, both technically and in terms of processes, in line with the target image. Medium-term planning is carried out consistently for the entire VW FS AG using the extended controlling concept. This enables the company on the one hand to make the right pricing and product decisions at local level, taking liquidity costs into account, and on the other to allocate liquidity to the business segments according to optimal benefit-cost ratios at a centralized level.
