Case Study: ILEOS
“We deployed Tagetik throughout our group because our consolidation and reporting tools were ready for the next generation. We have already used the solution to optimize our monthly reporting and annual closing and we intend to add new functionality for reporting and other processes in the near future." Olivier Maître Jean - CFO of ILEOS Group
Objectives
In order to meet their current and future requirements, ILEOS’ finance department decided to deploy a new solution for consolidation, reporting and management control. The project team wanted to gradually replace its existing tools before adding new functions to improve and strengthen the group’s management capabilities.
In order to minimize the need for double entries, the team wanted a solution that could seamlessly exchange data between the consolidation and reporting processes. And to support the global rollout, the system had to support multiple languages as well as Web-based access from standard Internet connections.
Benefits
After evaluating a short list of solutions, ILEOS deployed Tagetik during the summer of 2009. “Our first objective was to ensure that we could consolidate our 26 units exactly how we did before,” explained Marie-Luce Fradin, head controller and project manager at ILEOS. "We tested the new solution alongside our old system on the accounts for the first half of 2009 before performing our end-of-year close with Tagetik. Our auditors validated the accounts without amendments and even commented that the data was presented in a very fluent and transparent manner.”
The team has successfully deployed the Web-based solution at various sites in France,
Europe, the United States and China. Since double entries are now history, the users have
more reliable information and save a considerable amount of time in the process.
Since they have deployed Tagetik, the finance department at ILEOS has been able to create
more accurate budgets for different entities and avoid the time-consuming reconciliations
between different systems and processes.
“Thanks to Tagetik, we can devote more time to analyzing and reporting accounts because we
need less time making corrections and formatting data.” Olivier Maître Jean - CFO, ILEOS Group
