Enhanced cash flow reporting for HH Hunt with CCH Tagetik
HH Hunt is in four different lines of business: land development, build apartment and senior living facilities, home builder, community developer. The lines are all separate accounting and so they have four ERPs.
How was life before CCH Tagetik?
The controllers of the different business lines were sending their reports to one of the controllers who would just consolidate everything.
So when they were trying to pull trial balances from the system, manually in Excel they found out that there were a lot of mistakes in the reports. The accuracy wasn't there and management had had some concerns.
It was a very manual process and the month-end close took 5 days, so it's not efficient, people are just crunching numbers when they could analysis and helping the business, adding value.
Hear why Susan Carlton, VP of Accounting at HH Hunt, selected CCH Tagetik for Cash Flow.
"One of the things that was most exciting to everybody is on the budgeting side: the double entry helps you build the cash flow and balance sheet, which is very manual right now and that's the main reporting that the company looks at is cash flows.
When we were talking to the other vendors asking about the enhanced cash flow reporting, they didn't have that specifically but they said it could be built and we were thinking 'it's already in there, we don't want to have to direct somebody else to do it'.
I am hoping that we're going to reduce the time of the close significantly, have confidence in the data, get dashboards for the executives, they love a dashboard and then with the budgeting we have not done any reforecast just because it's so manual and there are business leaders who want to be able to reforecast, so we think they we'll be able to start doing quarterly forecast."
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