MEDIAHUIS implemented CCH® Tagetik’s software for Budgeting, Planning & Forecasting, Consolidation and Management Reporting.
FinanceNovember 19, 2021
MEDIAHUIS
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.
The Challenge
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.
CCH Tagetik Solution
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.
Benefits
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." |
