Finance07 November, 2019

Carmeuse delivers best in class Analytics and Performance Management with CCH Tagetik

Listen to how Carmeuse is now able to manage the complexity of their Consolidation and Planning now accelerating the close and reporting process across all business entities.
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Transcript

The world is changing, this is not new but what is new is the speed at which the change occurs.

Political and economical contextis also very difficult for a company like Carmeuse.

One of the most important market for Carmeuse is steel and gas, american gas is also very challenging for us.

Our legacy consolidation and planning systems were out of maintenance.

We were looking for a single interface for bothconsolidation and planning, a tool providing the flexibility that we were lacking in our legacy systems, with integrated reporting toolsand open to future evolutions.

We discovered CCH Tagetik thanks to a CCH Tagetik partner, Element 61.Before CCH Tagetik we mainly used SAP systems, we used SAP as business warehouse, we used SAP for the consolidation with BCSthe business consolidation system, and we use SAP BPC for the planning and finally SAP as reporting tool.

The main issue that we facedwas the rigidity of the tool, it was not possible to add new scenarios to perform sub consolidation, it was not possible to have a cash flow report, no internal reporting during the consolidation or planning process, so these were really the challengesthat we had with the old systems.

The characteristic of the software vendor that we were looking for were really the long-term vision,it was the most important, a very good customer support, also the ability to provide evolution to follow the market and the regulations rules in order to be on the page at every moment.

What is unique in this new configuration is that we havespread the responsibility by main region and then finally at the group level, so this is really a big change compared to the previous consolidation application.

Another very important change is the reporting, now the users can use CCH Tagetik reporting in order to make some controlsof their data before finalizing the consolidation or the planning, and also the graphical workflow really just amazing.

If I would recommend CCH Tagetik to somebody else, as we say in brussels, ‘Non peut-être’ which means ‘Yes, of course'.
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