FinanceJuly 16, 2019

Prada gained efficiencies with CCH Tagetik’s unified platform.

By implementing CCH Tagetik Budgeting & Planning, Cash Flow Planning, Financial Close and Collaborative Office Prada reduced their closing times, optimized their processes integration and simplified their IT infrastructure by switching to just one system of Corporate Performance Management.
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Before we were using HFM for statutory consolidation and SAP SEM for managerial disclosure purposesTwo different application and a lot of manual work starting from SAP transactions, loading them into HFM, consolidating the numbers, and again transferring data into SAP SEM.

It was a very complicated and time-consuming process because you have to produce the same resultwhile in the meantime the numbers would changeand once you had the final result it was too late to analyse figures.

This is the reason why we decided to search for one single application to store the data, automate data collection ensuring the same result for both the managerial and the statutory consolidation and have data immediately available for all the users.

This was a very big challenge in Prada.The biggest improvement are: in the timining, we shortened our processes by automating all the calculations, and in the workflow with review and approval, which gives the usersa defined and standard way to do their own tasks.

Finally, the central headquarter has real-time visibility on what's happening at local level.Our CCH Tagetik solution is perfect, easy to use, very clear and customized for our specific needs.I also see a big value in the pragmatic approach of the CCH Tagetik team, they always come up with solutions.I would certainly recommend CCH Tagetik to others, based on our experience.
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