Tags Resource Library: Recurring Contract Management case history

The success story of Juventus Football Club

THE CHALLENGE

In the professional football market, the buying and selling of players is the key activity through which sports clubs carry out their core business: profitably participate in national and international competitions to which they are able to access.

Given this intrinsic link between the purchase of a new player and the benefit that this is directly or indirectly able to bring to the club, it is not surprising that the contracts that revolve around the exchange of players and coaching staff provide for variable remuneration and remuneration linked to results.

Each new purchase, loan or sale of registered personnel therefore requires the ability to accurately manage the impact of relevant economic and financial values, with often complex conditions that need to be verified.

Faced with these needs, Juventus was facing technological limitations mainly attributable to:

  • Calculation of premiums and verification of conditions still linked to heavy manual activities;
  • Non-negligible probability of errors or non-recognition of conditional salaries;
  • Inability to carry out simulations and impact analyzes during the opening of the transfer window or on special occasions, such as an injury or shift in the cups.
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How Prada was able to cut management times by 50% and to reduce manual processing of financial statements to 0

THE CHALLENGE

With 641 directly managed stores in over 40 countries around the world, Prada Group needed to structure a unified process to manage all rental contracts, with the ultimate goal to transform the new regulatory obligation of IFRS 16 into a chance to grow and innovate in terms of technologies as well as processes.

Therefore, the solution had to standardize the management of contractual information on a global scale as well as to provide a flow of accounting information for the month-end closing of the financial statements at
subsidiaries and groups level.

Considering the deadline of the new IFRS 16 accounting standard, the solution had to be launched also
in a short time as well as to guarantee, since the very beginning, the proper integration with the SAP ERP
system already in use in the group.

In this new scenario, the existing platform readily proved itself to be inadequate.

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