"Tagetik CPM was the only solution which delivered out of the box processes implementing best practices for consolidation processes, allowing us to create reports focusing exclusively on the analysis, completely eliminating any technical barriers common to these tasks. Now the financial department has total autonomy on reporting with just a few days of training. The Tagetik / Methodus Consulting consultants not only understand our requirements, but also know how to speak our language!” Tiago Ferreira, Head of Finance BPP

“Our software selection requirements where such that the only solution we where considering was custom development, but it implied huge resources. With Tagetik, not only was the implementation done in record time with minimal resources, but it was executed with full compliance of all our requirements. We also have the possibility of customization by influencing the future development of the application with the user contribution program.” (…) The integration with Olympic Banking System was another concern, but with the ETL Module you get out of the box best practices for System Integration, so the effort was minimal and the reliability on the interface is maximal”
José Castilho, Head of IT BPP

“The Tagetik CPM project was a great success to our team: All in all, it was a winning investment for BPP.”
Salvador Fezas Vital, Executive Director BPP

Situation analysis and specific requirements

Banco Privado Português decided to implement a solution to support the CPM processes of Consolidation, Financial Reporting and Budgeting. The initial requirements of the project where the following:

• Optimize the Consolidation Process, minimizing effort and guaranteeing focus on analysis rather than process
• Increase reliability of data, implementing validation rules and data conference procedures
• Increase analysis frequency and level of analytical detail
• Assure timely, low effort and flexible reporting, coping with the increasingly demanding updates in accounting standards
• Integration with transactional system (Olympic Banking System), for monthly closing, migration of historical data and accounting drill down analysis
• Guaranteeing the migration of all consolidation concepts and sub consolidations

Project Objectives

• Consolidation of 22 companies
• 5 sub consolidation perimeters
• Single Currency, integral consolidation method
• Integration with Olympic Banking System
• Implementation of 15 monthly management reports
• Migrate 1 year historical data

Results

The collaboration of BPP with Tagetik and Methodus Consulting allowed the full implementation of the consolidation project in 10 weeks, with 100% on time execution. The project was on time and on budget, it optimized and unified BPP reporting processes, the shift to the new application was smooth and finally, the training was effective and gave full autonomy to the client.

The company

Banco Privado Português (BPP) is a privately owned Portuguese Bank, operating mainly in the Private Banking segment, but also with focus on Corporate Advisory and Private Equity. BPP has branches in Portugal, Spain, Brazil and South Africa.

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