Fugro
FinanceJuly 08, 2021

Fugro

Fugro, the world’s leading Geo-data specialist, implemented CCH® Tagetik on HANA to replace its existing Oracle Hyperion Financial Management (HFM) solution for consolidation and group reporting.
With our HFM licences expiring, we were looking for a solution to not just replace existing functionality, but to also enhance and automate our consolidation and reporting processes. I am very positive and satisfied with Satriun and with CCH® Tagetik on HANA, and believe it was the right choice of software and partner.
David-Alexandre Guez, Group Controller, Fugro
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The Challenge

Fugro had been using Oracle Hyperion Financial Management (HFM) to collect, consolidate and report the performance of its operations to its Board of Management and shareholders for more than five years.

Fugro now aspired to replacing HFM with a modern CPM technology that would enable not just the inclusion of the consolidation and reporting content from HFM, but also to take a step forward in the optimization of the underlying processes.

After having gone through a tool selection process, Fugro selected CCH® Tagetik on SAP HANA, deployed in the cloud, as the technology of choice.


CCH Tagetik Solution

With CCH® Tagetik implemented by Satriun, Fugro now enjoys a more automated and complete reporting and consolidation process.

Utilizing standard CCH® Tagetik functionality for process management, intercompany matching, cost allocations, equity pick-up and equity consolidation has helped to reduce the use of Excel and other offline solutions and optimized the end-to-end reporting process.

While the move from Oracle SmartView to CCH® Tagetik reporting was challenging and required an extended hypercare period, Fugro appreciates the ability of now having a central repository of reports available that can be maintained by the corporate team.

Benefits

Integrated data model for IFRS- and management reporting purposes

The data model is set up as a single source of truth while meeting both management- and IFRS reporting requirements

Fully automated equity pick-up and equity consolidation

Utilizing standard CCH® Tagetik equity pick-up and equity consolidation has helped to reduce the use of Excel and
other offline solutions and optimized the end-to-end reporting process 

Cost allocations

Using the CCH® Tagetik allocation engine to enable P&L by region

Phased submission

Using the CCH® Tagetik process management cockpit

Delegated intercompany matching

Using the CCH® Tagetik IC matching cockpit
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