FinanceNovember 19, 2022
Mediahuis monthly consolidation is now a smooth process with CCH Tagetik for Consolidation
The time we save with CCH® Tagetik, allows the financial team to focus on tasks that add more value to our business. There is more time for analysis, but also quality & control.
Mediahuis’ growth is based on mergers and acquisitions against a background of increasing consolidation in the media sector.
In order to control the risk of increasing complexity as the company evolved, Mediahuis decided to keep Unit4
Business World as the basis, but to look for another, more specialized solution for corporate
performance management (with the emphasis on reporting and forecasting), which would
also support consolidation.
The solution had to establish the right links between the local level and the group level. Moreover, it had to deal with reporting standards in a flexible way.
CCH Tagetik Solutions for Consolidation, Budgeting and Planning and Management Reporting
After a thorough market screening process, Mediahuis opted for CCH Tagetik, with element61 as its implementation partner.
In CCH Tagetik, Mediahuis found a single platform to support the international expansion of the group: one tool for Consolidation, Management reporting, Budgeting and forecasting, offering one version of the truth. The deciding factors included the ability to support decentralized users and enable dynamic reporting.
Thanks to CCH Tagetik, the monthly consolidation at Mediahuis is now a smooth process. This allows Mediahuis’ financial team to spend considerably more time on quality & control, so that the entire process adds much more value to the organization.
Main advantages Mediahuis gains with CCH Tagetik for Consolidation
Reporting as an essential tool for finance in the role of local business partner |
"This leads to strong reports with regard to the content and gives added value for the business.” |
Smooth consolidation |
"The quality is significantly higher,” says Katrijn Peeters. “In the past, we had to collect, check and centralize all kinds of Excel files. But this nerve-racking task has now disappeared. At the same time, we know that all inter-company movements are correct.” |
Correct inter-company transactions |
This allows Mediahuis’ financial team to spend considerably more time on quality & control, so that the entire process adds much more value to the organization. |
Significantly improved quality & control |
"We no longer need to spend that time exclusively on monitoring.” Moreover, CCH Tagetik offers the company access to accurate data |
A single version of the truth |
“There’s no more discussion. There’s only one version of the truth. And since everyone is working with the same figures, we can analyze them much faster." |
By using CCH Tagetik, there can only be one version of the truth. And since everyone is working with the same figures, we can analyze them much faster. This leads to strong reports with regard to the content and gives added value for the business.
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.
With CCH Tagetik Financial Close and Consolidation Software, we manage the complexity so you can accelerate the close.
