WEBVTT

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Our main shareholder is Chinese and we have to consolidate 40 entities from 40 different countries

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under IFRS and Chinese GAAP. We consolidated them in eight business days and now we start doing fast closing

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and consolidating in three calendar days. We have chosen CCH Tagetik because it's a tool in which we work on a single set of data

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for reporting and for planning. Additional dimensions that we could add could meet our complex structure 

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and no other tool allowed us to do it as simply as CCH Tagetik. What is unique is that we are doing the planning

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using the same set of data as we have in reporting, It's the same structure so that we can cross reference in the reports the plan and the actual figures. 

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As of 2014, as a former division of the group Alcatel-Lucent, we had an urgent need to rebuild

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the whole forecasting and reporting consolidation process. We used a tool that we had, this was Essbase,

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which was really time consuming, especially as Essbase could not meet the consolidation rules. We had to rework everything in Excel manually, and so we had to use

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the services of an external consultant, so we were around four people at the year end. Actually now we could handle

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the consolidation process with just one person. It just takes five minutes and before we had to do this with four people working two and a half hours.

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So this is a revolution. We also gained in accuracy and harmonization, so in the end this led to a very high trust

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for our board of directors. A big innovation with CCH Tagetik is that we are able to work with several scopes of consolidation. 

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So that means we can meet internal and statutory requirements at the same time. We won't change anything in the process we built with CCH Tagetik. It's perfect.