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Learn why Nelnet needed to replace their old and laborious planning, consolidation & reporting software.

Nelnet chose CCH Tagetik as SAP BPC replacement to automate their consolidation process, streamline their monthly planning & reporting process seamlessly, accurately and with unparalleled Support.


We were looking for a new tool… We were worked on another program before that it was old and we were needed to upgrade, it was going to cost upwards of a few hundred thousand dollars to just upgrade it,so we decided to take a look at other tools and this was one of the 3 or 4 that we looked at.

One of the biggest things that we've done with CCH Tagetik now isautomating the consolidation process.

Before,vthe close calendar for the month was about 8 days long, and the last2 days would be completely focused on adjust the journal entries for the consolidation, and that was me doing manual entries hours and hours oftime.

Now it's really everythings on the front end, all of our segments are doing their work, we literally push a button, a couple of buttons,to get it going and CCH Tagetik finds all those errors that the segments have made during their close process, we go back to them instead of us fixing it on our endduring our close.

It's a lot more seamless and it's more accurate.It was really a lot of Excel-based, journal entries that we would build and integrate, and now it's couple clicks of the button and the books are closed and everything is pretty much error-free.

I think another reasonis the application we were using was pretty stagnant, there's no active development going on with it, it was pretty much whatever we were usingit for, now with CCH Tagetik we can have a whole new list of options that we can work on implementing.I think Nelnet's a rather complex business with a lot of legal entities mixed up in it and so, to be able to have a process that is not only super-efficientbut also very accurate, is pretty key to be able to have a lot of integrity in the system.So we are booking all of our equity pick up: eliminations, taxes and then we're also doing intercompany eliminations.Consistent set of tables that we have now that everything's pretty trackable, there's a lot more version-control now than there was, where the only way we knew things came up is if my number didn't tie and sowe decided to go find out where it was missing and now we're kind of doing stuff on the front end because we know what's going to happen, what needs to happen and CCH Tagetik takes care of the rest.The parody between what we were used to, kind of had comfort with, what we want to do with CCH Tagetik… I think there's a lot of reportingoptions in CCH Tagetik that are a little bit more user-friendly, once you get to know what you're doing, then it was in our old system, that is really helpful.The consolidation, I guess how easy it is, once you get everything set up to maintain it… was something that was pretty awesome, we're just making sure that we're reaching out to oursegment controllers every month and making sure we're getting all those updates on the front end, but I thought it was pretty neat that it catches everything… we have some check spreadsheets built and if you miss one thing it's going to pop out and tell you "hey, this is five cents off".

So the fact that we can get down to that exact number that we know is correct, ispretty unique compared to what we were doing.

You…kind of have a new program, a peice of software, that we are using, that we're constantly developing and upgrading it,and not only we upgrading it, but CCH Tagetik's upgrading it and adding new features on, all the time that I think is really exciting to be able to take advantage of, and know that it's going to be supported and we know who to go to if you have any questions about stuff, because I think we've had a lot of good relationships built with CCH Tagetik consultants thatwe really enjoy.The biggest thing I was impressed with was, the enormous support we got from CCH Tagetik in terms of putting a lot of quite frankly after hour support when we were working with a consultant out of Italy, and we were talking to him in our afternoon which I know is his evening over thereit was really nice to have a kind of that support from him, and even some people based in North America… there's a lot of people that bend over backwardsto get you what you need.

Just the fact that people are reaching out you all the time, getting what you need '…is there anything I can help with?'… the fact that they care…They know our timelines are important and they just make themselves available, for that it's really fantastic.

I know that CCH Tagetik has 850 plus customers but sometimes it feels like we're the only one.We've used the last tool for 8 years and it's brought a lot of questions: are we doing it the most effective way? why are we doing things this way? we've had a lot of pushback from our original consultants that were saying'I know you do it this way but why you do it this way?' and we were sitting and looking 'I don't know why we do it this way….

'do we need to do it this way?' can we improve upon that, so that was something great that came out of this, is just processingimprovements, I'd say, we cut down some time made some more efficientcies through CCH Tagetik so.

The admin side of the application isa little less clunky than our old solution was, that kind of… once you get the hang of it, it's really easy to navigate and pretty intuitive.

I would recommend CCH Tagetikbecause it's pretty user-friendly, from the reporting side and even from the automation of lot of processes that were manual before.

It's really helped us out.Yes, I would definitely recommend CCH Tagetik to someone else.

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