Q-Park was looking for a unified and scalable approach to financial planning so that countries could budget more easily and spend less time on manual processes. Group-level consolidation also needed to be more efficient so that financial insights would be available more quickly and reliably.
Q-Park is one of the largest providers of parking services in Europe, with high-quality parking facilities in city centers, near hospitals, shopping centers and mobility hubs. The company operates in countries such as the Netherlands, Belgium, Germany, France, the United Kingdom, Ireland and Denmark. Q-Park focuses on quality, convenience and sustainability in urban mobility and invests in innovative parking solutions, such as digital access control and EV charging infrastructure.
The challenge: complexity through growth and diversity
Q-Park operates in seven countries and offers various parking services, including EV charging. Rapid growth and ambitious acquisition plans increased the complexity of financial planning. Each region used its own budgeting methods, making consolidation time-consuming and error-prone. Excel was no longer adequate, and a more efficient and future-proof solution was needed.
The solution
Finext guided the implementation of Board, an integrated platform for budgeting, forecasting and consolidation. Thanks to its smooth integration with existing systems, financial teams across Europe can easily collaborate. Controllers from all countries start the budget process annually in September in Brussels, where a first draft is created within one day.
The result: more control, less manual work
Q-Park now regains control of its budgeting and forecasting process. Budgets from all countries are consolidated centrally at headquarters in Maastricht - crucial for the investor behind Q-Park. Consolidation is more efficient, making financial insights available more quickly and reliably.
With the implementation, a scalable and unified approach to financial planning now stands. Now that Board has been implemented, the focus of this collaboration shifts to continuous improvement: keeping forecasting and budgeting in sync, and actively training key users in all countries to keep the process running smoothly.
Specifically, what did we address?
- Unified and efficient budgeting - Less time spent and less susceptibility to error.
- Improved forecasting - A structured approach for better forecasting.
- Deeper financial insights - CAPEX planning and lease accounting integrated.
- Smart cost allocation - Overhead and training costs better allocated by location.
- Master data management & analysis - Like-for-like comparisons between parking garages.
''Finext's step-by-step approach created structure, workflow and a standardized planning process across the company.''
WhyFinext?
Q-Park chose Finext because of our expertise and pragmatic approach. We took over from Sonum and ensured both continuity and innovation. We not only work with the best tools, we also help clients build a rhythm and structure that works. And that in a pleasant cooperation - with good food and a strong relationship as the foundation.
