FinanceNovember 23, 2022
Streamline business processes with CCH Tagetik Financial Close and Consolidation: The Vita Group experience
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.
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.
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