The long-serving Lotus Notes application for group-wide financial reporting was no longer future-proof for ABB: the synchronization of the information generated worldwide was time-consuming and the reporting did not adequately meet the increasing requirements. 1stQuad was able to implement a completely new, web-based tool that meets the highest requirements for security and traceability and significantly simplifies financial reporting with an attractive interface.

Due to the Sarbanes Oxley Act (SOX) introduced in 2002, de facto every globally active company must guarantee the accuracy and completeness of the published financial data. For example, the annual report must contain an assessment of the internal control system for financial reporting. The associated processes must be recorded without gaps and internal controls must be verifiably guaranteed.

ABB had long handled the topic of “Internal Control over Financial Reporting” with the help of a complex Lotus Notes solution. In the search for a future-proof new solution, 1stQuad was commissioned to evaluate a suitable platform. None of the existing systems in the company seemed to meet the requirements – the choice finally fell on the FAST Framework. 1stQuad was able to support ABB with platform consulting, development, implementation and operational support throughout the whole project.

The result was a comprehensive application suite that meets the very high requirements for security and traceability and takes into account the complex, often changing organizational and functional structures of the Group. A core aspect is the integration with the master data of the numerous corporate units, positions involved and stakeholders: Flexible, stringent access management is one of the most important elements of the solution.

For ABB, the new tool represents a technological quantum leap. An attractive interface with clear dashboards with live charts and KPIs, comprehensive reporting functions and several consolidation levels support the financial reporting process worldwide. The financial reporting effort has been greatly reduced, there are no more synchronization problems, and as a web application, the tool does not require extensive client installation.

"1stQuad is for me more than a technology supplier with a modern application framework.As a moderator for change and a competent sparring partner, our ideas, requirements and processes in all areas are continuously scrutinised, supplemented and improved."

Felix Meyer, Business Engagement Manager
ABB Information Systems Ltd


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Why 1stQuad?

1stQuad accompanies companies and organizations on their way to the “Digital Enterprise”.

We are lateral thinkers, use state-of-the-art technologies and create convincing solutions with a focus on the essentials.
As a reliable companion, we attach importance to a holistic understanding, customer proximity and professionalism.

Since 2009 we love what we do and take responsibility. We are constantly expanding our competencies and offering.
We advise, accompany and realise. We are Digital Workplace specialists with comprehensive expertise in communication and collaboration.
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For this we use Microsoft .NET, Azure, Office 365/SharePoint technologies and the many years of experience of our employees.

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