FinanceNovember 23, 2022

Streamline business processes with CCH Tagetik Financial Close and Consolidation: The Vita Group experience

CCH Tagetik Financial Close and Consolidation solution helps Vita Group streamline the business process by providing robust automation, process-driven workflow, stringent controls to modernize legacy approaches all on the cloud

As a manufacturing business, The Vita Group has a very close control of margins, performance, reviews and business management needs to focus quite heavily on getting out performance and having a system to be able to achieve that is a key point. 

The company previously used Hyperion Enterprise, which was quite a manual process and had a lot of inefficient workflows and processes that needs to be managed manually. 

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How CCH Tagetik helped in streamlining Vita Group financial business process? 

CCH Tagetik is used by Vita Group for management consolidation and statutory consolidation with a view to improving a lot of the internal on board reporting.

As European business they have multi-currency requirement for reporting, they have multiple group structures that they need to consolidate to, so having a consolidation platform that can do multi-currency quickly and in different scenarios, is a key requirement for the company. 

How is Vita Group business improved? 

Thanks to CCH Tagetik the move from an on-premise to a cloud solution has seen a payoff certainly in terms of reducing inefficiency, having a platform that can run more flexibly different scenarios, different reporting perimeters, which the old competitor's system struggled to deliver.

In general workflow and process management has improved significantly.

I would absolutely recommend CCH Tagetik to anyone looking to improve the Finance function.
Chris Houghton - Group Financial Controller, The Vita Group
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