Case Study: Askoll
“Another advantage of this solution is the native handling of double entries .This allows us to track the cash flow from operations as well as eliminate intercompany bookings during the consolidation process – which was especially reassuring for our CFO. Another positive aspect is that we can drill down to the details from any aggregated item in our reports. This really comes in handy when we are presenting information and even helps us reduce the number of paper reports, which is good for the environment as well” Maurizio Dal Cengio,Manager of Corporate Control at Askoll
With the support of Excent, an Italian IT and management consultancy, Askoll Holding chose Tagetik Enabled by Microsoft SharePoint to:
- manage budgeting and financial planning processes
- deliver a forecast analysis reporting system with a strategic viewpoint and providing actual data to the controlling departments
- optimize the processes of collecting, managing and analyzing budget and actual data
- strengthen management and statutory consolidation processes
- enable real-time monitoring of production data
Reasons for Switching
Askoll wanted to replace its spreadsheet-based system with a more structured, specialized solution. Through this new solution, Askoll hoped to foster more:“
- Autonomy for departments and executives in how they use information and generate individual reports
- Involvement of departmental managers in collecting data and generating reports
- Collaboration with human resources, marketing, purchasing and other departments in the reporting process
Benefits
Thanks to the Web-based platform and the usage of standardized tools such as Microsoft Excel,
the Askoll Group was able to quickly attain the necessary buy-in from users throughout the enterprise.
Through the workflow cockpit in Tagetik, the group has also gained real-time insight on the current
status of its planning processes. The controllers can manage this workflow from various points of
view and monitor the entire process of approving or rejecting budget proposals.
Since the group can now fully trace the origin of data back to its ‘owners’, the system facilitates the
audit process and helps the company take on full responsibility for its information.
Using the built-in support provided in Tagetik Enabled By Microsoft SharePoint, Askoll can effectively
ensure compliance with the regulatory requirements of Italy’s Law 231/01 relating to administrative liability.
From a reporting standpoint, users can now access data through a single, centrally managed interface.
They can individually view, browse and analyze their data on different levels of detail depending on
their access rights.
In addition to analyzing the reasons and dynamics related to financial or cash flow forecasts, the new
solution also enables the management team to regulate the logic behind the projections more accurately.
