“Complete data traceability, transparency, speed, and a powerful calculation engine are just a few of the strengths of Tagetik 3.0. Thanks to this unified solution, we have been able to simplify the complexity within our group.” Francesco Sarti, CFO at the Perini Group

The Perini Group, which comprises seven different market segments including the world famous Perini Navi yachts, is currently the only shipyard in the world that designs, develops and builds its own boats. The group, which was already using Tagetik’s Easy Finance solution for statutory and management consolidation, upgraded to Tagetik 3.0 to benefit from the new product features and further simplify the complexity within the group.

The challenge

Since its founding in the early 1980’s, the Perini Group has grown significantly through a series of successful acquisitions and policies to expand production capacity. Its Perini Navi division, which specializes in luxury yachts and cuttingedge sailing technologies, currently operates the Picchiotti shipyard in Viareggio, the Beconcini shipyard in La Spezia, a production plant in Turkey and a branch office in the United States. The other companies within the group are expanding into other markets such as biomedical, paper, construction, real estate, machinery.

Due to its different core businesses and growing corporate presence in non-Euro markets, managing the group’s diverse activities soon became very difficult to handle.Although its existing Tagetik solution provided adequate functionality, Perini decided to leverage the new features in Tagetik 3.0 to reduce the mounting complexity.

Tagetik 3.0: Simplifying the complexity

The Perini Group upgraded to Tagetik 3.0 very quickly – without interrupting the work in progress or requiring major user retraining. Using the new solution, the group was able to further accelerate its consolidation, closing and reporting cycles while adding powerful auditing features with full data traceability. By using diagnostic checks and defining controls between its financial budgets and detailed management reports, the company can ensure that its data is 100% consistent from the initial input to the actual consolidation process. Using a graphical Web dashboard with built-in thresholds, users can easily map and reconcile intercompany transactions to support a faster closing process.

Results and future developments

By upgrading to Tagetik 3.0, Perini has been able to reduce the growing complexity within the group, maximize the consistency between statutory and management reporting, and unify the financial close processes for closing individual legal entities with group consolidation. The new solution has a simple, intuitive interface which has dramatically improved data visibility and transparency while supporting rising management demands as well as changing compliance regulations. As a result, Perini has been able to save additional time in its closing and reporting cycles. In the near future, the group intends to use the solution to ensure a tighter integration between the strategic and financial planning processes of its Italian operations.

Perini Group operates in many different sectors:

Perini Navi manufactures large, comfortable yachts that can be managed by a single person. Today, the company’s revolutionary control systems have become a worldwide standard in the shipbuilding industry. Perini Navi is the only shipyard in the world that currently designs, develops and builds its own yachts.

CISA is an international group that produces and sells sterilization systems for hospitals and industries. The company, which was founded over 60 years ago, attributes its success to its ongoing investments in research, development and business growth.

Fapergroup builds machinery for the paper industry, through a remarkable series  technological innovations starting in the 1980’s, the company has already achieved a 75% global market share for machines sold.

Comceh in Romania and NTG in England are the group’s two paper mills which manufacture, convert and sell tissue and paper offset products. In mature markets, state-of-the-art machinery is becoming more of a necessity than a competitive advantage.

Perini Business Park in Brazil and FPM in Italy offer real estate properties and services to commercial customers. The group’s activities in the real estate sector were chosen as an investment strategy.

» Case Study Download