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RBC Bearings transforms their Financial Close and Reporting with CCH Tagetik

Listen to how RBC Bearings transformed their reporting requirements into a platform of financial performance and business value with CCH Tagetik.


We have a lot of different companies, they're all on different systems and use it's just Excel spreadsheets in different formats,keying errors … that was kind of a driver of it was from the CFO's perspective the risk of a misstatement with all of these Excel spreadsheets was,we needed to do something to better control over there was such a manual review, the time to close, the sending of spreadsheets back and forth, about adding the spreadsheet, getting the errors fixed effect, and then double-checking all that workto make sure they got copied over correctly.

We ended up loving what we saw, every question we threw at CCH Tagetik, was… they had a solution for that, they had thought of that problem where the other guys, would say "but we can do a work-around solution to fix that", CCH Tagetik was built-in! It seemed like it was more mature and tighterintegrated with all the different pieces we wanted, it had the workflow component, it had functions that were an afterthought to other companies so,the Pareto is built into the reporting tool, there's a function for that, so every little "can it do this?" and "can it do that?", the answer was "Yes, here it is"I'm sure there's lots of things in CCH Tagetik that we haven't thought of yet and I'm pretty comfortable that they're going to be there when it's time to use them.What's impressed me the most is probably the breadth of the software and the more I learn, the more I'm realizing we're just hitting the tip of the iceberg on what we're using out of CCH Tagetik for our financial close and reporting, it seems like it can do so much more and it's all there for us to deploy later, employees are going to be able to do what they want to be working on, they want to do analytics, they want to improve their business, they want to deal with exceptions, as opposed to regurgitating data on a daily basis since you know everybody's become excel whizzes because they just regurgitate numbers in Excelfor 80% of the time, and they get to do a real accounting work 20% of the time and the hope is to flip that and get more value out of each position.

That's a hugeplus having CCH Tagetik as a platform solution because today our data is in multiple locations so when there's a question what are your sales to this guy we have to ask each of the differentERPs and add up the results, and then when we get another question next day and it's the same process, we exchange spreadsheets and add it all up, having it now all in one placeis going to make it a push of a button and it'll hopefully answer the question before even gets asked.

The place based to where we are now and where we want to growand how we want to grow through acquisitions, CCH Tagetik was the best fit for us.

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