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Worthington Industries takes a new look at building the Bestlook Scenario with CCH Tagetik.


Learn how Worthington Industries combines actual and current Plan/Forecast data into one Bestlook Scenario after closing each month. A process that took 2+ days and now with CCH Tagetik 15 minutes!

Transcript


We do have three major divisions and they all have different disparate systems so we were able to use a software like CCH Tagetik to consolidate them up and bring that sort of reporting into one place so you're just getting one point of truth.

We were actually before on Hyperion Enterprise and then when we went looking for a replacement for that system we ended up with CCH Tagetik, obviously being able to easily load from different disparate GL systems and use the data entry forms to load data as well allows us to quickly and easily get the data in the database and then we can move on and start a report.

The number one reason that we went with CCH Tagetik was that everything was combined in one database, number two I think is the customer service that CCH Tagetik has offered, it has been very very helpful, the web-based application to allow remote users to easily connect and use a system which was not something that we had with Hyperion Enterprise.

Our best look scenario is basically taking, combining our actuals and the most current forecast for plan and building up a scenario instead of doing a forecast every month like a rolling forecast.

It was taking me minimum 2 days, sometimes 3 days to complete it once we had all the financials done for the book, we're able to build using the tools within CCH Tagetik to bring that 2 to 3 days down to 15 minutes, that's saved an enormous amount of time.

I'm quite happy with that, another beauty thing is that we can run it as we go through the month, so the business units are done earlier than we are from the whole company, so they can run it at day 2 or day 3 and they'll have their best look already for them and they don't have to wait till day 5 when I'm running it.

I would recommend CCH Tagetik to other companies, we felt it was a good product, a solid product and we're happy with our acquisition.

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