Rabobank implemented CCH Tagetik’s software solution for Consolidation, Intercompany Matching, ETL, Disclosure Management, Analytics
FinanceSeptember 01, 2017
Rabobank Group
Working with CCH Tagetik has been a perfect fit from day one. The commitment and enthusiasm of CCH Tagetik’s consultants have helped make our project a success.
The Challenge
Rabobank had used the same software for consolidation for over fifteen years. At the beginning of 2012, however, it decided to replace its multiple worldwide installations of Hyperion Enterprise with a single, Web-based consolidation application. Its requirements included:
- Integrated process controls and electronic sign-offs on data
- Guided workflow and task support
- Intuitive end-user tools
- Full audit trails on SOX-critical data
- Enhanced reporting and analysis tools
CCH Tagetik Solution
- One unified, Web-based, out-of-the-box solution
- Decentralized intercompany matching process
- Extensive security, process support and audit trail
- Scalability for management accounting and budget processes
- Support for multiple reporting needs
Benefits
Higher data consistency and quality |
The single Web-based application improved the consistency/quality of its data to streamline the entire process and a faster close |
More correct, consistent dataRS 15 |
The financial controlling department now receives more correct, consistent data, which it uses for analysis |
Better controls through built-in workflow |
Thanks to the integrated process controls, Rabobank minimized the manual work involved in the consolidation process |
Accuracy of the information |
The heart of the application is a guided, step-bystep submission process with strict validations for monthly/annual information |
Train-the-trainer program |
CCH Tagetik and Rabobank later developed a train-the-trainer program so that users could conduct further trainings internally on their own |
FINREP |
Rabobank extended its application in 2014 to include the new FINREP regulatory reporting requirements |
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.
