WEBVTT 1 00:00:03.640 --> 00:00:13.815 As a manufacturing business we have a very close control of margins, performance, reviews and business management needs to focus quite heavily 2 00:00:13.816 --> 00:00:23.792 on getting out performance and having a system to be able to achieve that is key for us. We used an old 3 00:00:23.793 --> 00:00:33.769 legacy system, Hyperion Enterprise, which was quite a manual process, a lot of inefficient workflows and processes 4 00:00:33.770 --> 00:00:43.746 that we needed to manage manually, our main costs were inefficiencies rather than system running costs, but certainly 5 00:00:43.747 --> 00:00:53.723 the move to CCH Tagetik from having an on-premise to a cloud solution, has seen kind of a payoff certainly in terms of that reduced inefficiency, 6 00:00:53.724 --> 00:01:03.700 having a platform that we can run more flexibly different scenarios, different reporting perimeters, that's certainly something that our old system 7 00:01:03.701 --> 00:01:13.677 struggled to deliver. We are using CCH Tagetik for management consolidation and statutory consolidation with a view to improving a lot of 8 00:01:13.678 --> 00:01:23.654 the internal on board reporting that we're required to do. As a European business we have multi-currency requirements for our reporting, we have multiple 9 00:01:23.655 --> 00:01:33.631 group structures that we need to consolidate to, so having a consolidation platform that can do multi-currency quickly 10 00:01:33.632 --> 00:01:43.608 and in different scenarios, is a key requirement for us. So, CCH Tagetik's IFRS 16 tool will add a lot of value to VITA the ability 11 00:01:43.609 --> 00:01:53.585 to capture very detailed data on our leases and run complex calculations quickly will help us to become compliant very quickly and 12 00:01:53.586 --> 00:02:03.562 with more confidence in our ultimate disclosures. The improvements that we've seen already, workflow and process management has improved 13 00:02:03.563 --> 00:02:13.539 significantly the ability to capture data quickly from our different controllers and be able to consolidate and report on that 14 00:02:13.540 --> 00:02:23.503 in a more structured manner, has certainly been the biggest improvement that we've seen. I would absolutely recommend CCH Tagetik to anyone looking to improve the Finance function.