The company

Banca Popolare di Milano (BPM) is a limited liability cooperative company under Italian law. To date, BPM is an interregional commercial bank that offers—either directly or via the companies that it controls or in which it has a stake—a complete and integrated range of products and services.

Project Objectives

During 2004 BPM initiated a project specifically aimed at introducing the major international accounting standards. Objectives included:

• The adoption of IAS/IFRS standards, starting from the 2005 financial year.
• A tighter connection between management accounts and the statements provided to the statutory authorities.
• The rationalization of internal management reporting and the Executive Dashboard from an application point of view.
• The introduction of a system for the automatic generation of the Notes to individual Financial Statements for each entity of the BPM Group.
• A reduction in manual operations.

Why Tagetik was Selected

“Following the pleasing results we obtained in our statutory consolidation project, and having being impressed by the sensitivity and competence of the Tagetik team—particularly in their treatment of management accounting data—we decided to continue working with them on bringing our systems in line with IAS 14 requirements.”
Andrea Rovellini, Group controller

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