13 October 2015
STAMFORD, Conn. and LUCCA, Italy.
Barilla Chooses Tagetik for Enterprise-Wide Financial Planning, Annual and Sustainability Reporting in the Cloud
The world’s largest pasta maker to leverage Tagetik’s built-in financial intelligence for financial planning, annual and sustainability reporting
Tagetik, a visionary leader in global performance management software solutions, today announced that Barilla (Barilla G. e R. Fratelli S.p.A.) has chosen Tagetik’s cloud corporate performance management (CPM) software solution to prepare its annual and sustainability reports, as well as manage the financial planning for the multiple companies within the Barilla group.
Barilla, which was already producing its annual report with Tagetik, has upgraded to the latest version of the software: Tagetik 5. The company will take advantage of the Collaborative Disclosure Management (CDM) functionality to integrate the multiple writing activities and calculations necessary for producing final reports.
Barilla will also replace an existing planning system with Tagetik in order to benefit from the software’s native double-entry logic and built-in functionality to manage group’s financial planning processes. The sustainability reporting implementation, still in progress, will replace multiple spreadsheets used to collect business indicators from multiple departments as well as establish workflows of activities, tasks and related controls to produce the sustainability report.
“The model we implemented with Tagetik is based on the integration of budget and management data with accounting, fiscal and financial data and a series of assumptions to determine, calculate and manage key strategic variables for our business. In addition to meeting the complex needs of our finance department, the software will enable us to forecast profit and loss and generate balance sheets and detailed cash flow statements throughout complex planning processes across multiple entities with confidence. Moreover, we will have the ability to build alternative ‘what-if’ scenarios that are perfectly in line with the strategy behind our business,” said Roberto Soresini, director of group planning & managerial process and consolidation financial statements, Barilla G. e R. Fratelli S.p.A. “Barilla is a leader in the global food industry whose brand is universally recognized as synonymous of Italian pasta. We are proud to have them as a customer,” said Manuel Vellutini, Tagetik co-CEO. “Our cloud CPM solution has the advanced financial intelligence to meet Barilla’s requirements along with the benefits of cloud deployment. Our unique ability to provide ‘the cloud without compromise’ is what allows us to successfully support the complexity and scalability of global organizations in the cloud. The ability to effectively and flexibly meet the ever-evolving sophisticated needs of the office of finance with a cloud-based, unified solution is what makes us truly unparalleled in the CPM market landscape.”.
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