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KWH Group

KWH Group implemented CCH Tagetik’s software solution for Consolidation

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The Challenge

The KWH Group is a significant Ostrobothnian family owned company which manufactures and markets abrasives and water traps as well as offers port operations and logistics services.

KWH Group’s global reach means it has 53 reporting units across 20 countries. This entails two hierarchies, 20 currencies and several time zones, numerous operational and legal structure subgroups, IFRS and FAS reporting standards and assorted IT environments. The wide and diverse group of key users needed to be able to visualise data in an easily digestible format from a single database, of the truth” to facilitate a coherent, IC matching and reporting process. 

Further, KWH’s requirements included an improved audit trail based on automated processes and a single entry principle, plus global launching ability enabled by cloud services.

CCH Tagetik Solution

KWH Group specified CCH Tagetik’s Consolidation process, the scope of which includes Statutory, Management, IFRS and Financial applications.

KWH reported that it received great support during the project implementation and as a result the “one version of the truth” ambition for the database was quickly realised. The global utilization which the KWH Group needed is a key benefit, aligned with automated processes and a significant upgrade on the technology of the outdated legacy systems. The audit trail has been enhanced and IC matching transparency achieved. The visualization of the reporting process was mentioned as one of the most tangible benefis gained so far.

 

Benefits

Flexible solution

A good, modern, flexible solution for the consolidation process

Transparent IC matching process

A transparent IC matching process with an improved audit trail

Visualized reporting process

A visualized reporting process supported by CCH Tagetik workflow

One version of the truth

One database and “one version of the truth” on a cloud based solution

Scalability

Able to meet current needs and long term goals

Fast implementation

Database quickly realised

Customer Quote

We were looking for a partner willing to co-operate, to train users, and with the right attitude and desire to build ambitious environments. We found CCH Tagetik closely fit these requirements. I would recommend CCH Tagetik to any company which wants a good, modern, flexible solution for their consolidation process.

Eija Savela, Group Controller, KWH Group