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Vemedia achieves better business continuity with one set of data and fewer systems!

Learn how CCH Tagetik provides automated consolidation and insight on forecasted and trusted actual data all in one unified model.


We consolidated in Excel, so a lot of manual entries … we didn't really have a good budgeting and forecasting tool, there was a lot of work by my colleagues as we are operating in several European countries.

We have our own factory, so these intercompany sales and purchases need to be aligned … and also working capital as we work with the working capital KPIs, which then calculate our accounts receivable etc, so these things may be a bit different and we expect our countries to budget and forecast by product and by product group, which for some countries then leads to quite an extensive process, so we need to be always well aware of the timing.

I think the main benefit is that the consolidation now is an automatic process, which is fairly quickly done, and we have a lot of standard reporting … we're used to have meetings with all of our operating companies, all bringing from 6 to 7 different kind of P&L and balance sheet to the table, which doesn't make easier for the Board of management to analyze the monthly figures.

So standard reporting is key as well as consolidation, which is done quickly, now.

It's an all-in-one workflow both for budgeting and forecasting, actually just following the same steps all the way from P&L to cash flow but more automatically, it saves people doing a lot of manual entries within Excel sheets, and the more you need to do manually, the more possible mistakes you make, so we reduced the amount of mistakes and we're trying to reduce the monthly closing every year… …we went from 5 to 4 days this year … we've tried to save as much time as possible so we are able to spend more time on analyzing the numbers.

I think the CFO really benefited from the standard reporting.

We use the so called performance pack to go to our board of directors, we have brand packs for international brand directors and barrel packs for our operating companies and these are all standardized, same amount of pages year-in year-out, same graphs, same tables, and by implementing that it makes those monthly meetings more valuable.

Yes, I would recommend CCH Tagetik to other companies.

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