Case Study: Costa Crociere
“By integrating the different levels of our budget process, we can now create budgets for individual cruises and define more accurate long-term plans. We can also develop models and pervasive budgets that provide better insight on our business drivers and variables.The software has also greatly simplified the complexity of managing voyage-related variables. Built-in features, such as a perfect audit trail, have significantly reduced the time we need for routine activities that don’t add value to our business. As a result, we have more time to focus on analyzing critical data.” Aldo Bressan - Budgeting & Forecasting Director at Costa Crociere
Objectives
After reviewing various solutions available in the market, Costa Crociere selected Tagetik because it wanted to reduce the complexity of its IT infrastructure. In addition to streamlining its budgeting, forecasting and reporting processes, the solution automatically loads data from seven different applications ranging from ERP and industry specific solutions. Besides automating many manual processes and improving its reporting and analysis capabilities, Costa Crociere also chose Tagetik because its business users would be actively involved in the data-entry process and could create reports themselves at anytime.
Costa Crociere started the project with the budgeting module, which has been implemented from May through October 2009. Towards the end of this first phase, the team also started to work on the forecasting module, to be rolled out by December2009– just in time for the first monthly close of the new fiscal year.
Benefits:
With the implementation of Tagetik, Costa Crociere can now:
- Analyze its world wide actual data weekly. This has improved the accuracy of the forecasts as well as the synergies between its P & A department and the rest of the business.
- Create a dynamic model that uses special statistics (i.e. pax cruise days) to
recalculate costs and revenues in its management reports. This also helps
improving the quality of forecasting. - Assess trends more efficiently by analyzing different views.
