Annual Report 2010 - Knorr-Bremse AG.

RepoR t
111
Knorr Excellence
Under the heading of Knorr Excellence (KE), Knorr-Bremse has introduced a standardized model
for all its management systems and has merged all process optimization initiatives across the
entire Group. The aim of KE is to achieve excellence in all corporate processes and to ensure
higher levels of customer satisfaction by continuously improving the Group‘s performance.
In 2010, Knorr-Bremse consistently pursued this program and further improved standardized
processes throughout the Group by launching new initiatives, notably in the fields of finance,
IT and human resources on the one hand and by pursuing existing initiatives on the other
hand.
Finance & IT Excellence
Within its FIT initiative, Knorr-Bremse made further efforts to establish best in class processes across
the board in the finance and IT sectors in 2010.
In the IT sector, FIT includes two projects: “IT 2.5“ and “ONE IT“. The objective of IT 2.5 is to boost productivity,
thus improving IT cost structures. In the course of the project, the individual IT cost items
were reviewed and specific improvement potentials identified and then tapped by specific action.
ONE IT is a global organizational project that seeks to realize further synergies through global harmonization
in the IT sector. In 2010, the main focus was on integrating the previously separate IT systems
of the Rail Vehicle Systems and Commercial Vehicle Systems divisions of Knorr-Bremse and of the parent
company, Knorr-Bremse AG, under the heading of Global Shared Services.
In the finance sector, the FIT projects “Intercompany Netting“ and “Fast Close“ were launched. The Intercompany
Netting project seeks to simplify and expedite intercompany payment transactions and
related liaison processes, thus reducing transaction costs in the long term. The objective of Fast Close
is to increase the flexibility of timing for the annual financial statements process, at the same time as
ensuring and improving analysis quality. Thanks to the process improvements already implemented,
Knorr-Bremse was able to save ten working days during the preparation of annual financial statements
for 2010.
In the finance sector, the Supplier Early Payment Program SEPP launched a few years ago was rolled
out worldwide in 2010. SEPP has proven to be an effective means of safeguarding liquidity and reducing
the cost of capital for selected suppliers. SEPP therefore provides sustained reinforcement for the
financial stability of key external partners of the Knorr-Bremse Group.