Halma stays compliant with Lease Accounting standard with CCH Tagetik IFRS 16 solution

Halma is a collection of about 45 businesses of life-saving technology companies and provides innovative solutions to many of the key problems facing the world today. From a finance point of view it’s quite demanding to control and understand the performance of each of those businesses. 

Halma needs to respond to our partners very rapidly, having good quality data that you can turn into meaningful, insightful information to drive decisions, make changes and ultimately boost returns. 

Hama set an aggressive timetable of 13 weeks to deploy across 45 different businesses CCH Tagetik Lease Accounting IFRS 16 solution. 

What Halma achieved with the implementation of CCH Tagetik for IFRS 16? 

At a group level the CCH Tagetik Lease Accounting system gives us a global view on the complex accounting reporting of all Halma businesses. It also enables 45 operating companies to be compliant in a consistent and standardised way. 

CCH Tagetik single platform for all of Halma operating businesses means greater knowledge sharing and efficiency across all operations. The best tool for an IFRS 16 solution is one that has robust controls and workflows with validations. At Halma, the three challenges of implementing the new standard were adding new processes without adding complexity, ensuring standardization across all of their 45 businesses and ensuring accountability for their local operations.