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Saam Smit Towage has modernized their legacy approaches for their financial consolidation with CCH Tagetik!

CCH Tagetik automatically aligns financials across Saam Smit's organization who can now count on retaining data integrity and consistency across the board with robust reporting and process-driven workflows all on the cloud.

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There are two different kind of factors that affect our business, one is stability, that is that most of our business is regulated by concession licenses, we have them for 5 years, 10 years in ports, so that is the stable part and we can basically easily predict our revenue and income, the other part of course is that we are depending on the World Trade and the container business which has its ups and downs.

We have three countries and two shareholders and each of them has its own rules for reporting, for some question of depreciation etc… So there was lots of manual works, Excel files, so lots of mistakes, no time for analysis and no robust reporting.

The local management, country management, had no insight from finance on the way where we're going, where the countries were going, so that cost in the end a lot and it was basically first an absence of credibility of the finance function at that time.

First it was meeting our needs or requirements for these different criterias for the different shareholders that we have.

Secondly it was user-friendly, because the idea is that in my function as CFO, is important to make finance at the heart, be a central piece of management to be able to communicate and to deliver analysis tool for the management.

We can see that we have a more robust reporting because the upload is clean and neat, it's faster, it allowed us to get rid and dispose of many Excel files, that I said were kind of poisoning our lives, previously so we have a faster reporting, more robust reporting and then it's of course a benefit for us in the finance function but also for the management and the shareholders.

It gives more credibility to the finance functions.

Reporting is more robust and it comes faster.

So that is the good help for us and for the company of course.

I would recommend CCH Tagetik to other professionals, no doubt!

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