“Thanks to Tagetik 3.0, we have reduced the time we need to collect budget data by 70% and have completely eliminated the need for manual data processing. The solution was implemented by a team of consultants in just a month and has well exceeded our expectations regarding time and costs”.
Gabriele Colombo, Luisa Daronco of AGSM Verona SpA

Situation analysis and specific requirements

AGSM Verona provides a wide range of municipal services ranging from gas, electricity and telecommunications to water and waste treatment for the Italian city of Verona and surrounding areas. Prior to using Tagetik 3.0, the group powered its planning and budgeting through a system of over 200 spreadsheets stored on a local network.

Once the budget was finalized, this data then had to be manually entered into the ERP system. This process was not only highly prone to human error but also took a tremendous amount of time.

The group soon realized that although the Excel-based system was easy to use, the risk of inaccurate data or unauthorized was simply too high. In addition, the former system was not capable of illustrating the company’s finances as a whole. Back then, the company used budgeting to merely provide a rough indication of overall financial performance and the potential impacts and did not even use a balance sheet to assess what it owns and owes.

Objectives

AGSM chose Tagetik 3.0 because it wanted to accelerate its budgeting cycles while making the information more reliable and safe in the process. Other objectives included:

• Reducing manual work
• Integrating the data flow between the data warehouse and underlying ERP systems
• Ensuring a seamless integration into the IT infrastructure
• Delivering a single interface that is intuitive like Excel
• Managing workflow processes in a more transparent way

Results

Using Tagetik 3.0, AGSM Verona can now create and store its entire budget for all 160 cost centers in a single system and run a series of customized reports. For the first time, the company could prepare its 2008 budget by product as well as business function and in alignment with the group income statement and multi-year investment plan. Beyond the added functionality, AGSM Verona can now collect the necessary data in 70% less time. Budget stakeholders are also satisfied with the new solution because it has a look and feel similar to their beloved spreadsheets.

AGSM Verona plans to extend the solution with financial forecasting capabilities by the end of 2008.

The Company

AGSM is literally the spark that lit Verona. Since 1898, the company has ensured the availability of essential services for both social and industrial development for the city and the surrounding areas. Today, AGSM manages and operates a variety of municipals services ranging from public lighting, electricity, heating, gas and waste treatment to telecommunications and cartography.
Through its deep knowledge of the market as well as customer needs, the company has since developed into one of Italy’s leading multi-utility companies. AGSM is fully owned by the city of Verona.

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