Rabobank GROUP


RABOBANK

Consolidation, Intercompany Matching, ETL, Disclosure Management, Analytics


“Working with Tagetik has been a perfect fit from day one. The commitment and enthusiasm of Tagetik’s consultants have helped make our project a success.

Rene Witlox, Head of Strategic Development BI, Rabobank


 


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The Challenge

Rabobank had used the same software for consolidation for over fifteen years. At the beginning of 2012, however, it decided to replace its multiple worldwide installations of Hyperion Enterprise with a single, Web-based consolidation application. Its requirements included:

  • Integrated process controls and electronic sign-offs on data
  • Guided workflow and task support
  • Intuitive end-user tools
  • Full audit trails on SOX-critical data
  • Enhanced reporting and analysis tools
Benefits

Benefits


Higher data consistency and quality

The single Web-based application improved the consistency/quality of its data to streamline the entire process and a faster close

More correct, consistent data

The financial controlling department now receives more correct, consistent data, which it uses for analysis

Better controls through built-in workflow

Thanks to the integrated process controls, Rabobank minimized the manual work involved in the consolidation process

Accuracy of the information

The heart of the application is a guided, step-bystep submission process with strict validations for monthly/annual information

Train-the-trainer program

Tagetik and Rabobank later developed a train-the-trainer program so that users could conduct further trainings internally on their own

FINREP

Rabobank extended its application in 2014 to include the new FINREP regulatory reporting requirements

THE SOLUTION

  • One unified, Web-based, out-of-the-box solution
  • Decentralized intercompany matching process 
  • Extensive security, process support and audit trail 
  • Scalability for management accounting and budget processes 
  • Support for multiple reporting needs
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