Digitalization of the book trade and more accurate future forecasts in uncertain times at Thalia Bücher
A constant business with only a few parameters - managing a bookstore used to be simple. However, in the era of e-books and online commerce, the landscape has changed. The question now arises: How will the business develop, and how can we project into the future? These are compelling questions that can only be answered when the numbers are put into meaningful context.
Stefan Liesegang, Head of Controlling at Thalia, believes that the numbers need to speak, which is why understanding various drivers is crucial. However, these drivers are constantly changing, making a fast technological solution essential for companies. The abundance of data needs to be managed to form and illustrate clear relationships. Additionally, Thalia aims to represent its economic future in a transparent manner, providing a solid decision-making basis for the management.
Thalia chose Valsight due to the diverse needs of corporate performance management. The goal is to derive various cases flexibly for the future, enabling better evaluation of investment and business model decisions.
"We have witnessed how Valsight allows us to simplify and automate processes."
Stefan Liesegang, Head of Controlling, Thalia
For Thalia, Valsight serves as the technical platform to map drivers. However, these drivers are not static; they occasionally change. Valsight enables Thalia to respond to these changes by creating new driver trees. With Valsight, Thalia can create a solid data-based decision-making foundation and adapt to changes effectively. The focus on key business drivers helps the bookstore conglomerate to remain flexible and act promisingly. When mapping the future, Valsight's function of visualizing key performance indicators and trends proves invaluable. The quick and flexible scenario modeling is a crucial aspect of software solutions and an essential component of digitalization in controlling.
The book business has undergone significant changes with digitalization, just as consumer access has evolved. The shifting times impose new demands on controlling in such a traditionally-oriented environment. In this context, traditional thinking and backwardness have no place. Valsight supports the bookstore company in pursuing the process of finance transformation. Additionally, Valsight helps Thalia Books to focus on key business drivers, enabling them to make efficient and promising decisions. This way, the bookstore can assert itself and remain successful in a digitized world.
The video is only available in German.
Tradition – a central value for the bookstore chain Thalia. Thalia has been accompanying the development of the book medium for more than one hundred years now and not only has a lot changed in consumer behaviour, but also in corporate management. A lot has happened within this complex and constantly evolving industry and digitalization has also arrived in controlling. Thalia Bücher was founded in Hamburg in 1919 and is currently based in Hagen. The bookselling and service company includes bookstores, online sales, an app and an e-reader.