The new model implemented led to a significant increase of efficiency with the client finance team and Mazars team being decreased at its minimum compared to initial in-house processing. Indeed it enabled shorter deadlines for the deliveries with higher quality. Finally L'Oréal gets access to an easy substitution of its team in case of illness, holidays or season peaks.
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.
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 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.