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Swarovski

Swarovski implemented CCH Tagetik’s software solution for Consolidation and Planning on SAP HANA

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The Challenge

The Swarovski Group is mainly known to the public through its crystalline products. Beyond the crystal business, the corporate group is engaged in other business areas that are involved with optical precision instruments and grinding tools.

The Swarovski Group covers more than around 200 reporting subsidiaries that have to be included in the scope of consolidation. In order to streamline these processes in the finance department as well as to increase the consistency of financial data,the Swarovski Group released its BI strategy. As consequence, the enterprise initiated the integration of their consolidation process into the business intelligence (BI). 

The existing consolidation solution did its job, but did not really fit into the BI infrastructure. The goal was to switch to a high-performance consolidation software designed for the complex requirements of corporate group.

CCH Tagetik Solution

CCH Tagetik's interplay with SAP HANA proved to be convincing.Starting with 16 solutions, a short list was prepared with six providers whose systems were evaluated. "Several tipped the scales in favour of CCH Tagetik", reports Thomas Bode, Global Head of Enterprise Data & Analytics at Swarovski. "We noted that the provider was very dedicated, even during the selection process. Detailed information was provided in response to enquiries, and that was a good sign. CCH Tagetik's consolidation engine, which is integrated into a clear consolidation framework, was also a clear advantage over the competitors."

Today CCH Tagetik is used for consolidation and planning processes on SAP HANA within the Swarovski Group. Local Accounts & controllers submit their financial statements to the group through CCH Tagetik. A workflow guides them through the required steps, which has considerably simplified the process. 

 

Benefits

CCH Tagetik on SAP HANA

Implementation of CCH Tagetik on SAP HANA after a detailed selection process

A single source of truth for data

Data warehouse and CCH Tagetik together form a single source of truth for data, consolidated data and reporting

Leaner and simpler landscape

Leaner and simpler, system and data, landscape

Accuracy and consistency

Improved data accuracy and consistency

Flexible platform

Flexible, expandable platform for future growth

Short time availability

All data is available for a review in a very short time

Customer Quote

Today all data is available for a review in CCH Tagetik in a very short time. CCH Tagetik’s consolidation engine was one of the clear benefits over the competitors.

Thomas Bode, Global Head of Enterprise Data & Analytics, Swarovski