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Aegon drives operational excellence and insightful management information across the whole organization with CCH Tagetik.


Discover how CCH Tagetik helped Aegon eliminate spreadsheet-driven processes, implementing specific features for the insurance industry, allowing them to close faster and easier.

Transcript


I think the main challenges that we faced particularly in the office of Finance is that we still have quite a high degree of manual work, our financial services industry is highly regulated which means that the demand on the finance function is quitehigh, a lot of changes happening, a highly competitive landscape, all the business developments as well as the developments in the office of Finance leads to the finance functionbeing a very important one and there's quite a lot of stretch on my teams.

Prior to using CCH Tagetik we were using spreadsheets,the only thing that we had was a general ledger system, before the entire reporting and consolidation process it was a highly spreadsheet driven process, CCH Tagetik has specific features that are well-suited to the insurance industry.

We've implemented the reporting and consolidation solutions more or lessacross the entire Asset Management organization and specifically in our US region we have also already implemented a number of functionalitiesthat are more related to the budgeting, forecasting and cost allocation processes.

We're currently working on setting up a global data model,when we started the implementation in the past we've implemented CCH Tagetik quite locally or regionally, but we managethe organization on a global level and we need management information on a global level.

The most notable way on how CCH Tagetik has impacted the productivity in the processesand the effectiveness of the processes is that it's much more automated, it helps us to do a faster closing, it frees up time from people,even during a monthly closing process to also spend time on the more value-added work of the business.

I think what CCH Tagetik has done well together with people from our side obviously is that we have done a very thorough preparation process before we actuallystarted to build the linkage between the system and our downstream systems and I have a very professional and open relationship with our CCH Tagetik consultantswhich means that they always think in the line of our challenges and are able to come up with solutions.

What I've learned from CCH Tagetik is that the softwareis set up in such a way that it can basically accomodate a wide variety of industries and a wide variety of companies.

I would certainly recommend all companies to consider the opportunity of CCH Tagetik.

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