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JEVS enters another dimension of Budgeting & Planning with CCH Tagetik!


Learn how CCH Tagetik gives JEVS the ease of Excel and the power of built-in financial intelligence improving their Budgeting & Planning process across the office of Finance.

Transcript


The main pain points for us were … we were working with a system that was notviable anymore, we had a lot of time requirements and our systems, especially our budgeting system was all excel-based.

The costs involved in labor and time weretremendous.

Our budgeting process took an inordinate amount of time and, in some caseswe were presenting budget after the budget year had started.

Not only did an impact on our internal reportsbut it impacted our production of our audited financial statements.We were quite impressed with the team, their knowledge … they were very attentive to our needs.Some of the benefits that we've achieved really relate to the level of granularity thatwe can store in CCH Tagetik.

In the past we were not able to do that.

There's a tremendous amount of data thatwe are able to access now.

For us it's different, it's like another dimension compared to the way we were.Our process which was pretty flat, archaic,it just doesn't compare to the environment we're in now.Right now, we are disseminating CCH Tagetik to all the users and … they're just going to have everything, they're going to have a financial that they can use in Excel and manipulate.

They're going to have access to detailed transactional information, to payroll transactional information.So that, for us, I think is also a big benefit, beyond just the budgeting process.Getting information in people's hands is also a big deal for us.Instantaneous access: we make the changes, run some allocations and the results are there and I think that immediate feedback, instantaneous feedback is what the analysts love.It certainly has reduced our close time … absolutely… and it's taking a big burden off of me, because at the end of every close I used to spend a solid day and a half for so……to organize information, do a balance sheet, do my metrics, etc… come up with summary financial reports, divisional reports, divisional kind of flash information…It's really taking a burden off of me … and we reduce the length of time it takes to do the budget, to do the reporting.So … I love itI absolutely would that I could go back in time and get it for some of the other lives that I've been in.

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