Crédito Agrícola Group
Statutory consolidation, Regulatory reporting, Management reporting
”Using Tagetik, we were able to implement a comprehensive consolidation and reporting solution in just 14 weeks. Thanks to the software’s built-in functionality and modern underlying technology, we could easily integrate and unify data from several different platforms throughout our group and leverage it in other processes. Best of all, we have achieved all of our objectives for this project thanks to the excellent support of the consultants at FWD Advise and the ease in customizing Tagetik to our unique needs”
Francisco Machado, Coordinator of the Accounting Department of Accounting and Retail Services
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The Crédito Agrícola Group (GCA) is a Portuguese financial group which encompasses 89 local cooperative banks (Caixas Agrícolas) that, in turn, own more than 670 local branches nationwide.
While restructuring its accounting department, GSA saw the need to improve its group consolidation and reporting processes as well as its regulatory reporting to the Portuguese Central Bank, Banco de Portugal (BdP).
- 110 consolidation entities with cross-shareholding positions
- 4 sub-consolidation sites
- Ability to calculate direct and indirect minority interests
- Support for line-by-line and one-line consolidations
- Integration with existing systems: Profile, Primavera, SAP and Navision
- Unified data storage in a single Microsoft SQL Server database
- Implementation of Banco de Portugal’s reporting requirements (Instructions 18/2005; 14/2005; 19/2005)
- Monthly management reporting (e.g. margin analysis by region, audit support)
- One-year migration of historical data
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