Case Study: Sersa Group
“What makes Tagetik so unique is that it flexibly supports all CPM core processes in a single solution. We see great potential for its solutions in both midsize companies as well as large corporations.” Roger Kunz-Brenner, PricewaterhouseCoopers AG
The Challenge
As a leader in the international market for railway technology and services, Sersa Group knows that insight and efficiency are key to driving business performance. So when the company decided to insource its financial consolidation and reporting processes, it turned to the experts at PricewaterhouseCoopers (PwC) for support.
The Objectives
One major challenge that Sersa faced was choosing the right software. In order to execute these processes in a correct, efficient manner, the group needed a solution that could flexibly support its complex structures and growing requirements.
For starters, the group currently reports its consolidated financial statements based on Swiss GAAP. After a thorough analysis, however, Sersa realized that IFRS for SMEs is the best option to deliver a true and fair view. As a result, Sersa wanted to be able to implement both types of accounting standards into its new solution.
Sersa also wanted a user-friendly solution that could later scale to support planning,
budgeting, management reporting and other CPM processes. In addition, it needed to
deploy the new solution in a very short timeframe. The project which started in August needed
to go live by that coming January.
After evaluating the options on the market, Sersa chose Tagetik. In addition to its rich functionalities
for financial consolidation, it supports a wide range of other CPM processes in a single solution.
Sersa, therefore, can flexibly add further modules such as planning or management reporting in line
with its changing needs.
Results
Despite the tight deadline, a small team of experts from PwC and Sersa were able to fulfill the project’s
goals and deliver the solution on time and in budget. The group now has a highly effective tool to
conduct its financial close, consolidation and financial reporting processes. Since the software
is very easy to learn and use, Sersa employees can even run, administer and modify the solution without
needing external support.
In addition to finding a solution for financial consolidation and reporting, Sersa now also has a flexible CPM
platform. As a result, it can easily add support for planning, management reporting and other processes
in the future.
