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AGF Group's CFO sleeps better at night now with CCH Tagetik Cloud for Closing & Consolidation

Listen to how CCH Tagetik transformed AGF's Closing & Consolidation process reducing pressure on the whole Finance team with CCH Tagetik Cloud!

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I think the fact that we have CCH Tagetik working with us now, we see where some of the places we can improve on our closing process, so I think the CFO will sleep better, because he will have not as much pressure to get the numbers on time and he will have a little bit of time to look at these numbers before giving them away.

That's one thing, but also take away a lot of the pressure on his entire team.

So, I think he'll sleep better at night.

One other factor that I consider unique, that I've not seen anywhere else, is the way they handle foreign exchange rate variations, but to build the database from scratch and bringing it to CCH Tagetik, we had to cope with different exchange rates for the same currency.

Well, there's something called "effets rate in memory", some overriding, something like that in CCH Tagetik and the functionality of CCH Tagetik is to be able to adjust, for some specific account or specific division, the exchange rate that was used for one reason or another, to do the conversion of the unit, in our case, Canadian dollar, so it's pretty flexible, it was able to allow us to reconciling numbers and understanding why we have differences due to the exchange rate, so I thought that was pretty cool.

The way of using scenarios they call it in CCH Tagetik, it's different database.

Using different database within a database, I think is probably one of the first things that got my eyes up, it makes life a lot easier for everyone to have one big database but with different scenarios, different ways of splicing and grouping the data.

We have minority shareholders in different levels of the organization and now the flexible, but at the same time rigid, structure allows us to do calculations of minority shareholderst.

It was an improvement in the way the system was doing the calculation for us and not the other way around.

So these were, that I can think of, the biggest 2 eye-openers that we have.

One of the key factors our IT Director was really pushing for, was the cloud.

He's already a cloud guy, so the fact that CCH Tagetik had the Cloud solution was a must.

It is a great software because it's not difficult to implement, it's easy to understand and then … you come up with your numbers and they all look good so … you look good! I'm not the smartest guy alive, but I think I look pretty good with these numbers that are coming out… especially the fact that we were such a small team and that we were able to achieve all what we did so far in the amount of time that was given … so it is an IT-less software, I can say that much.

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