FinanceSeptember 01, 2017


Ledvance implemented CCH Tagetik software solution for Consolidation, Management reporting, CCH Tagetik analytics
As an end-to-end system, CCH Tagetik enables us to accompany the entire process, from the delivery of the individual financial statements through to the annual report in Word.
Hans-Ulrich Hujer, Head of ACT RSDM, LEDVANCE GmbH
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LED products, conventional lights and networked lighting applications for the "smart home": LEDVANCE is a leading international supplier of lighting technology. Founded in 2015 as a spin-off of OSRAM's "Lamps" division, LEDVANCE is now present in over 120 countries and employs around 8,000 people. Following its spin-off from the OSRAM Group, the lighting technology specialist LEDVANCE was looking for a new system for group-level reporting. One of the challenges was not only to renew the system landscape and the architecture, but to react quickly and flexibly to changing requirements after being taken over by a Chinese consortium.

CCH Tagetik Solutions

By using CCH Tagetik, LEDVANCE was able to optimally adapt its system landscape to the new corporate structure and implement an integrated solution with a uniform process philosophy. LEDVANCE has thus created a single source of truth for all internal and external reporting, which also includes features such as foreign trade reporting and special requirements of Chinese commercial law.

In addition to functional, qualitative aspects, cost also played a decisive role. CCH Tagetik was not just shortlisted: ultimately, it was able to win, even thanks to a successful feasibility study in the form of a prototype. One factor that positively influenced the decision-making process was CCH Tagetik's great flexibility - literally anticipating potential future requests and requirements.

Main advantages

Table title

Implementation of CCH Tagetik for consolidation

LEDVANCE carries out consolidation of investments, consolidation of debts and consolidation of income and expenses in legal reporting

Single source of truth

Creation of a genuine "single source of truth" for internal and external reporting

Individual extensions

Implementation of special features such as foreign trade reporting

Oriented to actual needs

CCH Tagetik is optimally adapted to the requirements of the medium-sized company

High flexibility

Implentation of special features of the Chinese commercial law

Uniform process philosophy

More control of the system from IT to the specialist departments in order to remain flexible and be able to react faster
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Financial Close & Consolidation
Manage your financial close and consolidation with CCH Tagetik's software from local close to group consolidation to regulatory reporting and disclosure.

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