Área Financeiramarço 11, 2024

Profit and Loss Management with CCH® Tagetik - Toyota Finance Corporation's case study

Toyota Finance Corporation selects CCH® Tagetik for Corporate Performance Management, Budgeting and Planning, and Profit and Loss Management.

CCH® Tagetik has significantly accelerated the process of data aggregation and analysis. The aggregation task now takes just one day to complete. Furthermore, the time required for generating analytical reports and management reporting has been slashed by approximately 10 business days.
Project Owner, CCH Tagetik Implementation Project - TOYOTA FINANCE CORPORATION
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Adapting to rapid shifts in the market and society necessitates expedited decision-making in business. To enhance the precision of these decisions, comprehensive data-driven analysis is imperative. TOYOTA FINANCE also conducts monthly assessments of budget versus actual results, with the finance department presenting these reports to the management monthly. However, the sheer volume of data handled is substantial and continually growing. The limitations of the existing database software were becoming apparent in terms of operational capacity, and obtaining the required insights from the analysis was proving challenging. Moreover, the data processing logic relied heavily on human resources (akin to a black box), which posed issues regarding operational continuity.

The objectives Toyota Finance Corporation expected to gain with CCH® Tagetik Software solutions

The primary aim behind the implementation of a CPM system was to swiftly furnish essential data and analysis for managerial decision-making. To fulfill this objective, the need for a highly efficient and sustainable profit-and-loss management system became evident.

The CCH® Tagetik CPM solution

TOYOTA FINANCE chose CCH Tagetik as their new CPM system. This decision was primarily based on its capacity to handle extensive data volumes, its ability to create and implement diverse allocation patterns without the need for coding, its transparent visualization of processing logic, and its user-friendly interface. Presently, TOYOTA FINANCE leverages CCH Tagetik for three critical purposes: budget control, actual performance management, and lifecycle profit-and-loss management.

Benefits and results Toyota Finance Corporation achieved thanks to CCH® Tagetik's Corporate Performance Management Solution

Previously, it took around 20 business days to compile, analyze data, and create reports. However, with the introduction of CCH Tagetik, this lead time has been reduced by nearly 50%. Presently, reports can be submitted to management in about 10 business days from the closing date. The impact of the reduced labor required for aggregation is particularly noteworthy, as tasks that used to take approximately 10 business days have now been shortened to 1 day or less. CCH Tagetik increases efficiency and allows the team to allocate more time to value-added analysis. The team has now started to deliver higher-quality reports, with insightful perspectives in the analysis.

Integration of CPM tools, data expansion, reduction, and automation of data aggregation time.

By consolidating the management of data, that was previously shared via email and internal servers on CCH Tagetik, an environment has been established where “the requisite data can be accessed by the right individuals, when needed, and at any time.”

Organizing sales figures and managerial accounting data to accommodate diverse analyses.

In addition to enabling a more detailed grasp of actual results, the use of custom dimensions has made it possible to grasp numerical values by measure.
Advanced corporate performance control through a new axis of analysis. In the future, TOYOTA FINANCE aims to provide more valuable information by conducting analysis based on new perspectives, such as evolving to multifaceted analysis of the balance sheet and combining KPI and various sales coefficients with profit-and-loss data.

CCH Tagetik seamlessly connects budget and actual data with a remarkable level of analytical versatility. Furthermore, its user-friendly setup, code-free operation, intuitive interface, and flexibly configure variations in allocation make it stand out as a superior solution compared to other CPM systems.

Project Manager, CCH Tagetik Implementation Project - TOYOTA FINANCE CORPORATION
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