Hero case study Carmeuse
FinanceNovember 29, 2021

Carmeuse

CARMEUSE implemented CCH® Tagetik’s software for Consolidation, Budgeting, Planning, Collaborative Office and Production Cost Planning and Control.

The consolidation is being performed much faster and it is simply much clearer. For the Finance department, this results in significant time savings and we have an audit trail of every movement .
Barbara Jonnart VP Finance at Carmeuse
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The Challenge

“We decided to maintain SAP as an ERP platform, but to also look for an alternative for the data warehouse and the consolidation tool.” says Barbara Jonnart, VP Finance at Carmeuse. We embarked on a search for a new consolidation tool that would be comprehensive to meet all their functional requirements, flexible to adapt to new changes and with an open architecture that would fit in perfectly with the company’s SAP environment.

CCH Tagetik Solution

CCH Tagetik now ensures the consolidation of the various entities with different currencies, different scopes and different GAAPs. Furthermore, the tool also automatically delivers consolidated cash flow statements per legal entity. CCH Tagetik also provides a way to keep and bundle notes - throughout the year - for the consolidated annual report. This is now being performed in a fully integrated way, without the need for Excel. “Meanwhile,” continues Barbara Jonnart, “the sales managers are now also using CCH Tagetik and we have developed a module within the framework of our long-term strategic plan for sales, finance and investments.”

Benefits

Smooth consolidation for the annual report fuction: no more partial downloads from different systems

“CCH Tagetik provided a way to keep and bundle notes - throughout the year - for the consolidated annual report. This is now being performed in a fully integrated way, without the need for Excel.”

Strategic planning of sales, finance and long-term investments

“The sales managers are now also using
CCH Tagetik and we have developed a module within the framework of our long-term strategic plan for sales, finance and investments.”

Financial and management reports

“We want to use this tool for automatic tax reporting. Indeed, all the necessary input is already available via the data warehouse. The same goes for all budgets, not only for sales, but also for HR and administration.”

Consolidated cash flow statements by legal entity

The tool also automatically delivers consolidated cash flow statements per legal entity.

Supports the business with better information

“The consolidation is now being performed much faster and it is simply much clearer. For the Finance department, this results in significant time savings, while we now have an audit trail of every movement. This allows us to support the business faster, and with better information.”
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