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The key to Priva's streamlined Close: Integrated Data across all Companies, Offices and Systems

Apr. 21 2021 by Nancy Di Cosola, Global Customer Marketing Manager - CCH Tagetik

Performance Management Budgeting & Planning Consolidation & Closing

Priva develops and produceinnovative solutions for sustainable climate control and process management in horticulture, the built environment and indoor growing facilities. Priva selects CCH®Tagetik for:

  • CCH Tagetik Budgeting & Planning
  • CCH Tagetik Consolidation 

To learn more about how CCH Tagetik has enabled Priva’s digital transformation, we spoke with Marc Groenewegen, Senior Business Controller, about the challenges faced before CCH Tagetik and the benefits gained using our comprehensive CPM solution.  

What were the biggest consolidation challenges you had before CCH Tagetik? 

Since Priva is an international working company with several foreign offices with their headquarters in the Netherlands, we needed a way to integrate data across all our different companies, offices, and systems. 

Of course, in finance we have several processes including monthly reporting, year closing, budgeting, and planning. Our board and the management require timely information and, of course, correct information. 

What did your previous consolidation process look like? 

We had a solution to consolidate yearly accounts. Beyond that, we used Excel for monthly reporting, budgeting and forecasting. 

How have you benefitted from CCH Tagetik? 

We’ve benefitted from CCH Tagetik in many ways. Our finance team can use CCH Tagetik without the need for an IT specialist to configure the solution or set it up. CCH Tagetik’s workflow gives us a dashboard where we can see the stage where each contributor falls. 

We can also re-use our data in different ways. For example, our yearly accounts are different from our monthly management accounts. Even though the roll up is different, you can easily define different hierarchies in CCH Tagetik. This makes my life a lot easier than it was in the past. 

Do you want to watch the full video interview? Click here. 

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