Cloud reporting: Alcatel-Lucent saves time with CCH Tagetik solutions on Cloud

Alcatel-Lucent Enterprise has been an independent company since October 1, 2014, and is the No. 1 communication company in France and Europe. Alcatel-Lucent Enterprise is a leading provider of business communications solutions and services, from the desktop to the cloud, with 20 subsidiaries in 42 countries. Alcatel-Lucent Enterprise encountered a problem with the reliability of its financial data, as well as difficulties in reporting, multi-currency consolidation and multi-standard accounting.

It chose to carry out its group reporting using Excel on the basis of data issued by the accounting software of the different entities. But with 20 subsidiaries in 42 countries, the need for security, performance and productivity had become urgent in order to simplify consolidation tools and processes, and to speed up the production of reliable reporting.

After reviewing various offers, Alcatel-Lucent Enterprise decided on CCH Tagetik. The company was convinced by the long-term presence of CCH Tagetik, its strong international presence, its client references, the definition of functional needs related to the Group's businesses, the proposed project methodology, contractual commitment and financial approach. Alcatel-Lucent Enterprise has chosen to host its financial information and all the reporting and consolidation processes in the Cloud. In October 2016, CCH Tagetik was set up within the finance department. The solution connects to different accounting software in all of their entities and then provides an aggregated view of the group's financial information. This information is then included in their annual report. Moreover, the elements extracted from this unified and secure financial platform in the Cloud can serve as a working basis for auditors. The CCH Tagetik solution provides data reliability and simplifies and accelerates reporting and consolidation processes for Alcatel-Lucent Enterprise teams.

With CCH Tagetik Alcatel-Lucent is able to set up their monthly reporting in 8 days instead of 10, and they have gained a week on the time needed to standardise all of their reports. Moreover, this solution in the Cloud saves them more than 2 months in closing their annual accounts. Users within the group are very satisfied with the solution. In addition, in the past a team of 6 people was mobilised to set up reporting. From now on, they only need 4. CCH Tagetik makes it easier to locate errors in the data sent by certain subsidiaries and to trace each piece of financial information. CCH Tagetik Cloud will enable Alcatel-Lucent Enterprise to save nearly 500,000 euros annually and will pay for itself in less than a year.