The value of P&L savings is one of the key performance indicators in procurement, often connected to performance related pay for the CPO and his team. Achieving those savings requires constant search for cost optimisation potentials and hundreds of individual cost reduction and rationalisation projects. Here's where Meercat® comes into play - we can help you co-ordinate your global teams, easily create up-to-date confidence-level reports and share knowledge across your organisation.
The savings values are saved in two versions – ANNUALISED and FISCAL. ANNUALISED version show savings in 12-month blocks starting from the SAVINGS START DATE (Year 1,2,3,...). These are the recalculated into FISCAL values based on the SAVINGS START DATE and the FISCAL YEAR settings.
We support clients who have FISCAL YEARS different from Calendar years. It's as easy as changing a client setting.For example:
Savings are always calculated and kept in the currency they were entered and that's usually the original currency of the country where the savings were generated. Meercat by default shows the savings in their original currency and likewise exports such data to Excel. However, the system allows on-the-fly recalculation to any currency desired by the person who views the list. The graphical reports always recalculate the values to a common currency.
A daily exchange-rate register is kept in the system. The administrator can update the currencies on a daily basis, if so needed, though clients usually set the exchange rate per mont or quarter. The update can be made manually or through an Excel file upload. The Excel template includes a connection to the OpenExchangeRates.org server and can be updated with the latest exchange rates at a mouse-click.
Users are able to determine which exchange rate is used for the given savings by "locking the rate". If the Exchange rate (X-RATE) date is not set, the savings are always recalculated with the NEWEST exchange rates available in the system. If the date is set, then the exchange rates from the given day are always used (or the latest available by this set date; e.g. if you upload exchange rates for 1 Jan 2019 and 1 March 2019 and the date is set to 1 Feb 2019, then the values from 1 Jan are used.)