WEBVTT

1
00:00:03.800 --> 00:00:06.256
It's a very competitive market with a lot of fight

2
00:00:06.257 --> 00:00:13.300 
for market share, it's really important to be visible in the marketplace, otherwise it would effect the sales.

3
00:00:13.501 --> 00:00:20.245
It depends on how the consumer views your product and weather you can make a disruptive positive impact

4
00:00:20.246 --> 00:00:24.153
in their everyday life, for them to notice you, pick you up and put you in their shopping basket!

5
00:00:24.154 --> 00:00:32.519
Coty had a transition phase whereby we had a merger of seismic proportions: 

6
00:00:32.520 --> 00:00:37.139
we had the beauty arm of P&G joining with Coty beauty

7
00:00:37.140 --> 00:00:41.265 
to create the third largest beauty company in the world.

8
00:00:41.266 --> 00:00:44.739
So along with the merger, as well as having 

9
00:00:46.000 --> 00:00:55.409
the normal issues, with the mergers of two different cultures, two different systems, two different processes .... we also were faced with the fact that we were losing some of our

10
00:00:55.410 --> 00:01:07.000
traditional reporting tools, so we used to use EssBase and that was no longer being supported because it couldn't support the size of the business any longer,

11
00:01:07.901 --> 00:01:15.000
it was quite a rigid platform, we also have two versions of SAP, which was quite difficult to deal with at a time.

12
00:01:15.721 --> 00:01:25.522
So instead of relying on systems, we built Excel. It was an interesting journey, obviously with Excel there's lots of data issues, user issues...

13
00:01:25.523 --> 00:01:35.325
My CFO was very convinced that this wasn't the way forward and we were convinced that then it must be, in this day and age a simpler way of doing thing

14
00:01:35.326 --> 00:01:46.127
so we were looking for a platform to take care of our budgeting and planning needs. We particularly liked the look and feel of the product

15
00:01:46.128 --> 00:01:54.930
and also the high configurability of the product as well, the fact that we didn't need to have any IT input which can often

16
00:01:54.931 --> 00:02:04.732
slow down any changes that you need done, the finance world is changing, we need to be agile, we need to be quick about decisions and also our business changes quite a lot,

17
00:02:04.733 --> 00:02:14.530
so we also need to be able to reconfigure any tools that we use, any analytical tools, very quickly, so the fact that the back office appeared user friendly,

18
00:02:14.531 --> 00:02:26.550
it's highly configurable and there's no need for IT, the fact that we can store data in the cloud as well as that is accessible from anywhere had made CCH Tagetik stand out from the rest.

19
00:02:26.557 --> 00:02:29.173
The holy grail for us is to be able to report

20
00:02:29.174 --> 00:02:34.858
accurately and timely customer profitability

21
00:02:34.859 --> 00:02:38.328
by product line level.

22
00:02:38.329 --> 00:02:40.900
So the data that goes into that is quite granular  

23
00:02:40.901 --> 00:02:46.500
and in order to have good useful information out of it 

24
00:02:46.501 --> 00:02:51.500
we need to ensure that the input into the system is as accurate as can be.

25
00:02:51.501 --> 00:02:58.100
We can see benefits the fact that we budget at quite a granular level, we built up our budget bottom up

26
00:02:58.101 --> 00:03:08.434
and we plan at SKU level in some areas, so for us the ability to build all types of hierarchies is proving wonders

27
00:03:08.435 --> 00:03:15.370
and the ability also to recreate our processes at a granular level in CCH Tagetik has been amazing.

28
00:03:15.371 --> 00:03:24.381
We can now alter the picture, alter the data and the consolidation for us as a finance function,

29
00:03:24.382 --> 00:03:31.005
using so many different Excel spreadsheets and processes, the consolidation used to take days,

30
00:03:31.006 --> 00:03:39.002
way too long in order to be agile and effective in the world that we live in... The instantaneous consolidation for us is the most beneficial.

31
00:03:39.004 --> 00:03:48.027
Also it's given finance the ownership of the data, we don't have to rely on IT for any fixes, 

32
00:03:48.028 --> 00:03:59.690 
we don't have to rely on changes to any structures, we can implement anything that we see fit and ending that anything that we have been asked of immediately and that is truly beneficial to the way we work.

33
00:03:59.691 --> 00:04:06.812
So the implementation for us is a local solution and we are keen

34
00:04:06.813 --> 00:04:13.900
to get going so that we can showcase what we've learned from CCH Tagetik, what we've gained, to other divisions in our business.

35
00:04:14.000 --> 00:04:19.055
So definitely thumbs up, I would recommend CCH Tagetik to others.