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Lindex

Lindex implemented CCH Tagetik’s software solution for Budgeting & Planning and Lease Accounting for IFRS 16.

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The Challenge

With 460 retail stores in 18 European markets and online sales in 33 markets around the world, accessing information needed to produce accurate forecasts, reports, and budgets was a painstaking, labour-intense task using an under-dimensioned legacy system. Also, coordinating these tasks was made more difficult due to non-standard routines used regionally. 

Lindex Office of Finance wanted a higher degree of flexibility to be able to produce up-to-date reports, forecasts, budgets, and the ability to better follow up on ROI on a project level. 

CCH Tagetik Solution

CCH Tagetik Budgeting & Planning was implemented to initially address the budgeting and reporting needs of the customer.

However, the customer soon discovered the broad scope CCH Tagetik could address including Lease Accounting for IFRS 16. The CCH Tagetik experts’ deep understanding of Lindex’s complex business model and the ability to tailor the solution to their specific needs was greatly appreciated.

Benefits

Process harmonization across the organization

The streamlined system introduces a standardization of processes across the organization, enabling faster, more accurate Budgeting.

Faster and more efficient method of producing Ad Hoc reports

Better transparency between financial data and operational data and, increased data availability.

More accurate and automated budgeting and information gathering

The system’s flexibility provides the ability to more easily drill through into operational data from individual stores and suppliers.

Easier to create business cases and follow up on ROI

Ad hoc reports in new dimensions, forecasting, hypothetical business cases, CAPEX and follow-up on investments make it easy for management to see ROI project by project.

Reduced time -consuming work in Excel

Reduced time spent working in excel alongside the flexibility of the system and smoother budget workflows results in a timesaving of 50%.

Decreased risk of human error

The solution provides a platform that enables almost 100 users from around the world to work with common processes in a streamlined manner.

Customer Quote

I am very satisfied with CCH Tagetik and its flexibility. When management needs specific information, it is so easy to build ad- hoc reports to see business cases from different dimensions. This is a valuable tool allowing us to see and follow up on investments.

Maria Isendahl, Group Business Control Manager, Lindex.