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KWH easily handles multi-entity consolidations with unlimited hierarchies in one database and one source of truth.


KWH can now perform on-the-fly multi-currency conversion and deliver information on time and accurately in the cloud.

Transcript


KWH is a multinational group.

We have 50 reporting units throughout the world.

We have more than 20 countries and therefore, more than 20 currencies as well in the reporting system.

As we have several business branches, we also have different business models to adopt to.

3a In order to meet the requirements that we have in the finance function now a days, you need to be efficient in delivering the information on time, accurately, and for that you need good systems backgrounds and good, smooth processes to be able to do that, so you can race to the road you’re expected to be on, to be the business partner delivering the facts.

5a Prior to using CCH Tagetik, we had several databases and therefore, several truths to the numbers that we wanted to eliminate.

We replaced our old system currently known as Cognos Controller.

Partnering long term with CCH Tagetik, the critical factors for us were that they had good partners here in Finland, like INTITO.

They provided a good support to us during the implementation process.

They were a crucial factor to the success we’ve had so far.

We have implemented the consolidation software and we’re currently in the process of implementing the IFRS 16.

CCH Tagetik solution provided the most value in the visualization of the reporting process because when we do the global launch, we have the workflows to utilize instead of writing down the stories and telling people that this is the next step and this is the next phase you need to complete in your process.

We decided to go for the cloud because we believe that it’s the future solution.

We’re still developing the project and the implementation further, but, still, we can all really see that we’ve reached the one database, one truth that we wanted.

And that’s a really good platform to be building the future with.

I would recommend CCH Tagetik to anyone who wants a good, flexible, modern solution for their consolidation process.

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