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Freudenberg Sealing Technologies: Global IT Finance Management

Bissendorf/Osnabrück. Freudenberg Sealing Technologies in Weinheim is a global market and technology leader in sealing technology und supplier to a wide range of industries. The company has streamlined and automated its IT cost management as much as possible with the help of netinsight, the IT financial management platform by nicetec GmbH. The new platform allows Freudenberg to plan its global IT budgets more professionally and replace existing manual processes. At the same time, the flexible solution has increased transparency and overall costs.

Standard procedures around the globe

Since 2008, the IT department at the largest of Freudenberg Group's 11 global subsidaries has been organized at the European level. "We took our IT department to the global level in 2013. We were faced with the need to record our costs from around the world, report them in an unform manner and then allocate them to the various services we offer," recalls George Molchan, Global Head of IT and CIO at Freudenberg Sealing Technologies in Weinheim, Germany. 

 

Professional tool for all IT finance management tasks

First, the global IT department created a catalog of the services it offers to its internal customers. This led to a search for a professional tool for price calculations, invoicing of IT services, and customer and controlling reports. The bidders were given three months to draft a proof of concept to show that Freudenberg's requirements could be met and that a switch from a cost center to invoicing would even be possible. The netinsight IT financial management solution by nicetec was eventually chosen. "That was in terms of content and cost the most attractive offer," says Kerstin Zeeb, Head of IT services & Governance at Freudenberg Sealing Technologies.

Significant added value for Freudenberg Sealing Technologies

The proof of concept made clear the significant added value that netinsight offers, in particular, its flexibility and standard reporting of IT costs, despite different systems und structures, were impressive. Freudenberg also found the self-service portal giving controllers and IT managers in subsidiaries around the world instant access to current contracts, hardware inventories, product catalogs and price lists to be a big plus. This "single point of thruth," where all of the available information converges, provides a consistently updated overview and a high degree of transparency. That the solution is by default designed for international use also played an important role for the global company as did the faster convenience of web-based IT budget planning.

Noticeable reduction in workload and increased cost sensitivity

In the implementation phase, the solution was configured to meet the special requirements of Freudenberg Sealing Technologies and all of the necessary dara was copied over into the system. Today, the company's IT planning around the world is carried out completely with netinsight and user feedback had been very positive, because it has made their work much easier. At the same time, errors are reduced by automation and costs are being cut. The long-term increase in transparency has led to more cost sensitivity and usage-based billing ot IT services has changed user behavior. "Across the company, this has led to lower IT costs for services that go unused or do not create added value," says Kerstin Zeeb.



About Freudenberg Sealing Technologies

As the leading specialist in sealing applications and their market, Freudenberg Sealing Technologies is a supplier as well as a development and service partner serving customers in a wide variety of industries, including the automotive industry, civil aviation, mechanical engineering, shipbuilding, the food and pharmaceutical industries, and the agricultural and construction machinery. Beginning with the invention of Simmer oil rings in 1929, the Freudenberg Group offers a broad portfolio of seal and vibration control products to meet customer needs from customized individual solutions to complete sealing packages. In the 2013 fiscal year, its largest subsidiary Freudenberg Sealing Technologies reported sales of around 2,000 (€ million) and employed nearly 17,000 people.

 

About nicetec

Founded in 1998, nicetec GmbH is headquartered in Bissendorf, Germany and is one of the market leaders in flexible software solutions for IT financial management. The technology company offers software products and service, consulting, and development services to companies around the world. The netinsight software suite by nicetec is an integrated and user-friendly platform for IT financial management, IT controlling, IT cost allocation and shared service center management. With over 220,000 licenses issued in Germany alone, netinsight is used in numerous top companies across the country.

 

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