Case Study: API Group
"Tagetik has dramatically improved our planning and control processes, converged our data flows for statutory and management reporting, and streamlined our financial close" Stefano Cardello - CFO, API Group
The objectives
Due to the growing complexity of its business and its systems, API Group saw the need to deploy a modern CPM solution. In particular, the company needed to accelerate the process of producing financial statements and statistics while providing better information for making decisions. To improve data quality, enable traceability and minimize manual work, the company also wanted a tight connection between the CPM platform and underlying transactional systems.
After a thorough evaluation of different vendors and solutions, the company chose Tagetik because it could integrate its management and statutory requirements on a single Corporate Performance Management (CPM) platform.
To feed the Tagetik dashboard with information from its transactional systems, the company implemented a financial data mart based on Microsoft SQL Server. This information is kept up to date through a direct connection to SAP R/3 as well as a data-input system based on Microsoft Excel.
Results
Thanks to Tagetik, API Group has successfully streamlined its planning, reporting and control
processes. It now conducts management consolidation and reporting in the same application
that it uses for the financial close and statutory reporting. As a result, the company has been
able to minimize repetitive work and data inconsistencies.
Users can now access over 1 million records from an SAP system containing over 20 million records.
The CPM solution produces approximately 100 reports, 20 of which are used by management for
strategic decision-making.
Tagetik 3.0 has also integrated the processes of strategic planning and operative budgeting. Thanks
to its built-in features and process support, users have gained valuable time to analyze their data and
business scenarios.
Over 60 users currently use Tagetik for planning and budgeting. Individual contributors can now compare
detailed, up-to-date information on a secure and fully traceable platform. Users can also analyze the
data from multiple dimensions such as cost centers, distribution channels, products (raw materials or
finished goods), type of movement and shipping (cost fluctuations depending on the vessel used for
transporting raw materials).
Due to the streamlined data collection process, API Group can create more accurate budgets and
forecasts up to 30% faster than in the past. What’s more, users see how changes in the budget can
impact the bottom line, analyze variances and easily trace data back at a later point in time.
