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Fininvest implemented CCH Tagetik's software solution for Statutory and Management Consolidation, Closing and Allocation, Profit-&-Loss, Balance-Sheet, Cash-Flow Planning and Monthly Reporting

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The Challenge

Fininvest needed an evolved Corporate Performance Management system to manage statutory and management consolidation, closing and allocation, profit-&-loss, balance sheet and cash-flow planning, and monthly reporting in a single solution at various levels within the Group companies.

CCH Tagetik Solution

Fininvest had decided to replace its previous solution with the objective to replace their existing platform with a system that could supprot the complex demands created by IAS-induced changes. Specifically, the new project had to involve seven not listed sub-holding companies in statutory consolidation and reporting and budgeting.

In addition, the new solution had to facilitate data transfer from the Group's listed companies - Mediaset, Mondadori and Mediolanum - to the holding company. All of this had to be accomplished while reducing data gathering and processing times, enhancing quality and automating main processes through Corporate Performance Management functions, and cutting technical and IT maintenance costs (TCO).


Improved data quality

A 50% increase in information quality

Significant reduction in manual processes

A 30-40% cut in manual operations for processing & calculating

Shortened closing cycle

A 3-5 day reduction in closing cycle time (-10-20% than before)

Streamlined reporting

Report production time cut by 40-50%

Overall control

Managed Administration and Control processes in a unified, structured and automated manner

Single database

Employed a single, centralized database shared by all users

Customer Quote

CCH Tagetik positively meets the needs of a complex structure like ours. With a single product, we can manage complexity comprehensively, rationally and coherently. A powerful feature is the data inquiry functionality, which improves information quality and has cut report generation time by 40-50%.