Raiffeisen Bank implemented CCH Tagetik’s software solution for Planning, Budgeting and P&L statements, Consolidation of Budget and Forecast Data
FinanceSeptember 01, 2017|UpdatedJanuary 07, 2021
Raiffeisen Bank International
In just a few weeks, two people were able to build a standard planning environment that we could use to consolidate a minimal data set, generate budgeted balanced sheets and P&L statements, and analyze them from any angle. CCH Tagetik is really easy to understand because the data model has a logical setup. We can now quickly identify where there is a problem in the underlying processes and as well as where we need to start to fix it.
It goes without saying that a specialized IT solution can fulfill various business requirements for consolidating budget and forecast data. Two factors that helped make this project a success at Raiffeisen Bank International (RBI), however, were the rapid deployment and flexibility of CCH Tagetik.
Using this software, an internal project team was able to build a group planning and budgeting system by itself – supported by just a few man-days of external consulting. In addition to meeting all of the finance department’s requirements, the solution facilitates the daily work for users in both the company headquarters and business units.
The CCH Tagetik solution
Raiffeisen Bank International AG (RBI) is one of the leading banking groups in Austria as well as throughout Central and Eastern Europe. The company has achieved strong growth in recent years and expanded its business operations across 17 different countries in the region.
RBI searched for an enterprise system for consolidating planning and budgeting data.
Main advantages
Flexibility |
Flexible organizational structures to manage new entities and account |
Fast deployment |
Short implementation phase with an intense testing period |
IC reconciliation |
Easy reconciliation and automatic balancing of intercompany relationship |
Better data quality |
Better data quality and more transparent business processes |
Web solution |
Web solution and online validations with direct response |
Successful knowledge transfer |
Fast knowledge transfer through pmOne/CCH Tagetik coaching |
Related Insights
-
ArticleFinanceNovember 07, 2024
Unlock the full potential of your FP&A strategy
Download the essential Financial Planning and Analysis software checklist to identify must-have capabilities -
WebinarFinanceNovember 05, 2024
Transforming Financial strategy: Meeting the evolving demands of CFOs
Watch this webinar hosted by EY and CCH Tagetik, focusing on transforming financial strategy through the trends in CPM -
WebinarFinanceOctober 30, 2024
5 key stages of a winning SAP BPC replacement plan
In this webinar, SAP experts from Breakaway Technologies and CCH Tagetik will show you what a practical BPC replacement timeline looks -
ArticleComplianceFinanceOctober 29, 2024
Navigating compliant mortgage lien releases: Essential knowledge for lenders
Streamline your mortgage lien release process with expert compliance guidance. Learn essential requirements, avoid common pitfalls, and discover digital solutions for efficient lien management across jurisdictions.
