FinanceAugust 17, 2020

Evolve Now: GASAG's experience

Listen to how Gasag has streamlined their consolidation, improved financial reporting, optimizing long-range planning, budgeting, and cash forecasting with CCH Tagetik’s unified platform.
Evolve Now - GASAGs experience
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Transcript

We are a midsize group of companies with roughly 14 to 15 consolidated companies.We have a turnover of roughly 1.2 billion Euro and profitability around 110 million Euro.

We are facing fierce competition in the sale of gas and power.We are in a very competitive market, especially here in the main capital of Germany, Berlin.And we are facing intense regulatory pressure.

Due to our very different business units, we used to have several planning and reporting systems, mainly based on SAP.We decided to start an evaluation of our processes.

It was necessary that we find an integrated system to fulfill our business requirementsand our finance requirements.

We wanted to choose a service provider that would be with us for the long-term.

Finally, we wanted all our criteria to be met after implementation.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.It's a cash forecasting tool.

Now, we have a common data model for planning, forecasting, and consolidation.This is quite unique.

For all our financial management purposes, we use one system, which is CCH Tagetik.

The main benefit is that — due to the integration — we've improved our data quality.

Secondly, we've improved data integrity.

Last but not least, we achieved cost-efficiency.

With CCH Tagetik, we were able to reduceour IT cost in finance by nearly 80%.

That is very very significant.This is also why we are happy with our solution.
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