HSE


HSE

Statutory and Management Consolidation, Management reporting


Despite the complexity of the project and a few unexpected complications, we were still able to roll out the software within our allotted six-month time frame. All in all, we are very satisfied with the capabilities of Tagetik, the expertise of CRMT and the results of this project.

Romana Meglen, Head of Accounting


 

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The Challenge

Holding Slovenske elektrarne (HSE) is the largest Slovenian organization that generates and sells electricity on the national wholesale market. Due to the growing complexity of collecting, consolidating and reporting data from the group’s 16 subsidiaries, HSE decided to replace its aging Excel-based tools with a new, integrated solution.

Benefits

Benefits


30% faster cycles

Primarily due to the increased efficiency and automation in consolidating data from the different companies in the group

Time savings

Significant time savings in consolidating investments and capital as well as in preparing statements for financial disclosures

Fast and Easy

 Users now have fast, easy access to 100% reliable data

Reduced the risk of error

A common data entry system which has significantly reduced the number of multiple entries and the overall risk of error

Quality and Speed of producing data

HSE has improved the quality and speed of producing data for statutory and management reporting

Independence

The individual subsidiaries can manage their local assets, liabilities, revenues and expenses on their own

THE SOLUTION

One of HSE’s main objectives was to accelerate the process of collecting and processing data for its annual and quarterly financial statements. The group wanted to increase the transparency in each consolidation phase as well as improve the collaboration with its 16 subsidiaries, prepare higher-quality reports, and increase reporting credibility while reducing costs in the process.

  • Consolidation of 16 companies
  • Common database
  • Process integration
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