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Evolve Now: GASAG's experience


Listen to how Gasag has streamlined their consolidation, improved financial reporting, optimizing long-range planning, budgeting, and cash forecasting with CCH Tagetik’s unified platform.

Transcript


WEBVTT We are a midsize group of companies, we are roughly 14 to 15 consolidated companies, we have a turnover of roughly 1.2 billion Euro, profitability around 110 million Euro.

We are facing fierce competition in the sale of gas and power. We are in a very competitive market especially here in the main capital of Germany, in Berlin, and secondly we are facing of course also regulatory pressure.

Due to our very different business units, we have used several planning and reporting systems, mainly based on SAP, and our decision was to start evaluation process.

It was necessary that we used an integrated system to fulfill the business requirements and of course finance requirements, and that the service provider is helping us for a long-term period.

And finally we must say that those criteria after implementation have been met. We are using CCH Tagetik for multiple purposes.

So it's not only a planning tool.

It's also a reporting tool, it's a consolidation tool and it's also a cash forecasting tool for us.

So we have now a common data model for planning, forecasting and consolidation, and this is quite unique.

So for all our purposes, one system, which is CCH Tagetik.

The main benefit is of course that due to the integration we reached a higher data quality.

Secondly of course also data integrity and last but not least I must say we achieved cost-efficiency.

So with CCH Tagetik we were able to reduce our IT cost in finance by nearly 80%, that is very very significant I must say and this is also why we are happy with our solution.

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