Due to the very fast grow of the company, we needed a software based on projects, while the previous one was
only focused on legal entity logic. With CCH Tagetik we have had the opportunity to underline and stress our financial performances,
divided by each project. The most difficult aspect to manage was the location worldwide
of our plants - they are located in Europe and South America, North America and Asia - so we needed a
web-based solution that allowed us to collect data 24 hours a day, 7 days a week considering that we work
on very different time zones. Thanks to the web-based CCH Tagetik platform
we lowered our TCO from 20% to 30%,
and we can benefit from real-time data across our entities.
We use CCH Tagetik for statutory consolidation: we have 150 different
entities with over 50 different currencies, so we have a lot of data to convert
to euros, about 10 different consolidation scenarios, and 300
different contributors located worldwide. We also use CCH Tagetik for budgeting and forecasting based
on a project approach: every project manages its own budget on a monthly basis with revenue
and costs shared across different currencies. Then, we have the budget and financial planning to calculate all the
different currencies, we also use CCH Tagetik for Enterprise Risk Management,
which is a new process, and finally the Collaborative Disclosure
Management, which allows us to produce the notes to the balance sheets for many different
scenarios and to refresh and update data in a very fast way.
Astaldi was in a software selection with Cognos, IBM, Hyperion...
and the difference we perceived from CCH Tagetik consultants was in their approach
in respect of our needs. After 10 years Astaldi has no regrets
and this is demonstrated by the fact that we are enlarging our experience with CCH Tagetik
to other CPM processes ... the last one to be implemented will probably be the Integrated Reporting, I'm personally working on this
and I'm absolutely sure of the success of this project.
CCH Tagetik is used daily by our CFO, who has visibility on all of Astaldi's financial accounts
worldwide, thanks to specific reports addressed to the CFO, so he can monitor the bank account situation in real time everyday.
Yes, I absolutely recommend CCH Tagetik to someone else.