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Área Financeirafevereiro 21, 2023

Budgeting, Planning and Forecasting on the cloud with CCH Tagetik - ABN Amro case study

ABN Amro implemented CCH® Tagetik Budgeting, Planning & Forecasting on the cloud. Now they are able to organize plans, processes and data in one single solution.

We made a good choice in joining forces with CCH Tagetik. We now work with a nicely mature, future-proof product. CCH Tagetik has the best fit with the bank’s vision and good references. Equally important: the price tag was right.
Rob van Litsenburg Product Owner, Controlling Grid, ABN AMRO
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For an organization like ABN AMRO, it is crucial to be able to look five years ahead and make reliable forecasts about the course of business during that period. This is important for making the right strategic and business decisions at corporate level. On the other hand, this ‘5-Year Outlook’ is also used to fulfil reporting obligations to national and international regulators, such as the Dutch Central Bank and the European Central Bank. 

The software used by the bank to collect and consolidate all the necessary data and generate the 5-Year Outlook had reached the end of its lifespan. The moment when the maintenance or support of this application would no longer be available was rapidly approaching. For security reasons, ABN AMRO puts high requirements on SaaS solutions. One of the teams supporting the bank’s controlling processes was given the opportunity to create a cloud solution for the budgeting, planning & forecasting process.

CCH Tagetik Solution for Budgeting, Planning and Forecasting

ABN AMRO chose CCH Tagetik’s most comprehensive solution: Budgeting, Planning & Forecasting. This solution helps organizations to organize plans, processes and data in a single solution. CCH Tagetik was the solution that was fulfilling all these requirements and therefore selected by ABN AMRO’s Team Fuego. As early as the selection phase, ABN AMRO’s dedicated team had ample opportunity to work with the software. The company ensured a smooth implementation in close collaboration with ABN AMRO and consulting firm KPMG.

Using CCH Tagetik' software, ABN Amro business has changed: the possibility to create custom dimension and make simulations allows them to create versions of forecast or budget and have more data and a dept analysis on what could be happening in given situation. Another advantage of CCH Tagetik is the Academy, which offers free trainings and courses that let people have a basic knowledge about the logic behind Tagetik.

Currently, ABN AMRO mainly uses the solution’s basic functionalities. In the future, the bank will gradually make use of more features. Various forecasting processes that are currently carried out mainly in Excel, for example, will eventually be transferred to CCH Tagetik. In addition, the bank is working with CCH Tagetik on a budget transfer module, based on the Analytic Information Hub, which makes it possible to automatically transfer budgets from one entity to another and make them auditable.

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With CCH Tagetik the sky is the limit for ABN AMRO

Learn how ABN AMRO automates transfer budgets from one entity to another with CCH Tagetik's Analytic Information Hub.

Main advantages ABN Amro gains with CCH Tagetik Budgeting, Planning and Forecasting

Fast implementation

Thanks to CCH Tagetik, they were able to implement faster

Reliable insights and forecasts

CCH Tagetik provides a tight framework within which controllers and experts worldwide deliver their data, significantly reducing the chance of errors

A sound, future-proof solution

ABN AMRO has a new, powerful SaaS solution that forms the foundation for sound corporate budgeting, planning & forecasting processes

Flexibility and ease of use

In the future, the bank would like to gradually expand the use of CCH Tagetik’s features

Time savings with 50% faster cycles

The time needed to process all the data has been halved

Working with a modern, up-to-date system

Finally, ABN AMRO always works with the most recent release of the software so that new, modern functionalities are immediately available
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To create forecasts and budgets, ABN AMRO wanted to work with a best-in-class SaaS solution. The solution needed to meet stringent security requirements and fit seamlessly into ABN AMRO’s Finance & Risk architecture.
Rob van Litsenburg Product Owner, Controlling Grid, ABN AMRO
Budgeting Planning & Forecasting
Enter the next evolution in planning with CCH Tagetik Budgeting, Financial Planning, and Forecasting software.
CCH® Tagetik
Budgeting, Planning and Forecasting
Enter the next evolution in planning with CCH Tagetik Budgeting, Planning, and Forecasting software.
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