Exclusive portal designed for our Customers and Partners

Log in

Request for Access

Blog
logo
logo
countries flags

ALE International shortened their 40 entities complex consolidation process, IFRS and Chinese GAAP from 8 to 3 days with CCH Tagetik fast closing


Discover how, switching from Oracle Hyperion Essbase, ALE International can now handle the entire consolidation process with 1 person in 5 minutes, delivering internal and statutory requirements at the same time.

Transcript


Our main shareholder is Chinese and we have to consolidate 40 entities from 40 different countriesunder IFRS and Chinese GAAP.

We consolidated them in eight business days and now we start doing fast closingand consolidating in three calendar days.

We have chosen CCH Tagetik because it's a tool in which we work on a single set of datafor reporting and for planning.

Additional dimensions that we could add could meet our complex structure and no other tool allowed us to do it as simply as CCH Tagetik.

What is unique is that we are doing the planningusing the same set of data as we have in reporting, It's the same structure so that we can cross reference in the reports the plan and the actual figures.

As of 2014, as a former division of the group Alcatel-Lucent, we had an urgent need to rebuildthe whole forecasting and reporting consolidation process.

We used a tool that we had, this was Essbase,which was really time consuming, especially as Essbase could not meet the consolidation rules.

We had to rework everything in Excel manually, and so we had to usethe services of an external consultant, so we were around four people at the year end.

Actually now we could handlethe consolidation process with just one person.

It just takes five minutes and before we had to do this with four people working two and a half hours.So this is a revolution.

We also gained in accuracy and harmonization, so in the end this led to a very high trustfor our board of directors.

A big innovation with CCH Tagetik is that we are able to work with several scopes of consolidation.

So that means we can meet internal and statutory requirements at the same time.

We won't change anything in the process we built with CCH Tagetik.

It's perfect.

Most Recent Videos

Customer Videos

What does automation mean for finance?

Customer Videos

Bizerba automates their financial consolidation speeding up their year end closing with CCH Tagetik!

Customer Videos

Vivat can now keep disclosure compliance and financial reports in line with CCH Tagetik.

Customer Videos

Talanx reduces the effort of their annual close and reporting process across all business entities with CCH Tagetik!

Customer Videos

Aggreko chose CCH Tagetik as a key enabler to meet their complex financial landscape.

Customer Videos

Keepmoat gains insights into project planning parameters such as work in progress, invested capital and cash flow with CCH Tagetik.