"Tagetik’s unified approach to CPM has helped us comply with the new international standards – and accelerate our consolidation cycle in the process!”
Mediaset

Mediaset chose Tagetik 3.0 because it wanted to unify the processes for statutory and management consolidation, budgeting, forecasting and reporting in a single, sophisticated solution.

Situation analysis and specific requirements

As Mediaset needed to comply with new international accounting standards, it didn’t just change its consolidation process - it decided to revamp its information systems as a whole. That’s when Italy’s leading commercial television network launched a project to unify financial data in a single database, expedite the closing cycle, and reduce overall maintenance time and costs.

Mediaset also expected the new system to standardize the overall data quality across all business units- ranging from digital and pay-per-view television, to multimedia content and advertising - and group companies including its Spanish subsidiary TeleCinco which is separately listed on Madrid stock exchange.

Objectives

In order to meet these project objectives, Mediaset required a single solution which would:

• Comply with the new international standards
• Standardize reporting and analysis across all business units and companies
• Ease monitoring and control tasks through perfect traceability
• Improve data quality through a single, centralized database

Results

Thanks to Tagetik 3.0, Mediaset improved the overall data quality in a fully traceable, flexible solution. Since the software integrates all processes in a single, centralized database, the media giant can easily drill down to detailed data, such as a single adjustment, at any time during the process. In addition to merging data for management reporting, Tagetik 3.0 also supports statutory consolidation in line with international accounting standards as well as Italian stock market regulations.

Mediaset especially profits from the software’s mapping features which loads peripheral data and streamlines consolidation scripts. Moreover the software facilitates the Web-based intercompany reconciliations helping the company monitor the data entry process from different locations. In the planning process, Mediaset can now monitor KPIs to verify the financial sustainability of strategic objectives as well as manage intercompany and inter-business transactions, value added tax within the group, cash pooling and investment depreciations more effectively.

The Company

Mediaset is Italy’s largest commercial television group and a major communications company worldwide. The company, which has been listed on the Milan Stock Exchange since 1996, generated over €3.7 billion in revenues for the 2006 fiscal year. The Mediaset Group is engaged in the following activities:

• General analogue television
• Free digital theme channels free digital terrestrial
• Digital pay-per-view offerings
• Multimedia services

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