WEBVTT

1
00:00:09.300 --> 00:00:16.087
We are a midsize group of companies with roughly 14 to 15 consolidated companies.

2
00:00:16.088 --> 00:00:27.776
We have a turnover of roughly 1.2 billion Euro and profitability around 110 million Euro. 

3
00:00:27.777 --> 00:00:34.465
We are facing fierce competition in the sale of gas and power.

4
00:00:34.466 --> 00:00:41.800
We are in a very competitive market, especially here in the main capital of Germany, Berlin.

5
00:00:41.801 --> 00:00:47.844
And we are facing intense regulatory pressure. 

6
00:00:47 .345 --> 00:00:59.345
Due to our very different business units, we used to have several planning and reporting systems, mainly based on SAP.

7
00:00:59.346 --> 00:01:13.223
We decided to start an evaluation of our processes. It was necessary that we find an integrated system to fulfill our business requirements

8
00:01:13.224 --> 00:01:22.912
and our finance requirements. We wanted to choose a service provider that would be with us for the long-term. 

9
00:01:22.913 --> 00:01:29.600
Finally, we wanted all our criteria to be met after implementation.

10
00:01:30.200 --> 00:01:42.291
We are using CCH Tagetik for multiple purposes. It's not only a planning tool. It's also a reporting tool. It's a consolidation tool.

11
00:01:42.292 --> 00:01:51.980
It's a cash forecasting tool. Now, we have a common data model for planning, forecasting, and consolidation.

12
00:01:51.981 --> 00:01:58.869
This is quite unique. For all our financial management purposes, we use one system, which is CCH Tagetik. 

13
00:01:59.170 --> 00:02:11.000
The main benefit is that — due to the integration — we've improved our data quality. Secondly, we've improved data integrity. 

14
00:02:11.001 --> 00:02:21.048
Last but not least, we achieved cost-efficiency. With CCH Tagetik, we were able to reduce

15
00:02:21.049 --> 00:02:29.737
our IT cost in finance by nearly 80%. That is very very significant.

16
00:02:29.738 --> 00:02:35.412
This is also why we are happy with our solution.