FinanceJuly 06, 2022
Cloud based consolidation solution for Tarsus Group with CCH Tagetik
Tarsus is the leading UK-headquartered global event and media company replaced Oracle's Hyperion® Enterprise® with CCH Tagetik’s cloud CPM solution in less than six months.
Tarsus likes to take advantage of change in the marketplace but they need to be prepared to act on it and so understanding the business is critical to allow them to take advantage of the changes.
Why you selected CCH Tagetik on the cloud for the consolidation process?
Tarsus wanted to move to a cloud type solution but they were worried about a lack of structure and being overly reliant on a key individual around building a very flexible structure and CCH Tagetik had a nice balance sitting in the middle, so it was the flexibility of the cloud but lots of structure around the process so that Tarsus weren't really reliant on the individuals but the system itself.
Tarsus operates in a lot of countries in the world, so they need to be able to deliver a solution that is easily accessible globally and this is much easier on a cloud based solution. Tarsus have a lot of small teams around the world, so they don't have the time or the skill set to be doing complex layers of reporting, so they mainly needed something which is very simple from an end-user perspective but in the center it gives them complex and reliable information so that they can use that for our group modeling.
How was life before CCH Tagetik for Consolidation on the Cloud?
Tarsus previously used the system Oracle's Hyperion® Enterprise® which was end-of-life at that point in time, it had been not particularly well maintained by the company and as a result they had lots of unreconciled master data structures, the reporting was very poor. It was also on an out-of-date IT infrastructure.
The key thing for Tarsus was really the time that they were putting in every single month into getting the data into the right shape and being able to know that they could rely on it, it was really time consuming.
What are the benefits Tarsus gain with the implementation of CCH Tagetik as a cloud based solution?
Now Tarsus can model things so much more quickly, they understand their business and they can deliver better analysis to the board on a much more timely basis. The system is reliable and their close process it’s such a smooth process, it's very well structured and they have lots of checks and balances as they go through and so it's accelerated their timelines and it's meant they have a much better data.
When it comes to innovation what Tarsus can do is a lot more flexible and timely reporting for the board, understanding the data in the base data allows them to do better modeling, a quicker modeling and it helps support the business decisions.
With CCH Tagetik Financial Close and Consolidation Software, we manage the complexity so you can accelerate the close.
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