2 July 2015
HOUTEN, The Netherlands and LUCCA, Italy
Coolinvestments Selects Tagetik for Consolidation and Reporting
Dutch fashion retail, wholesale and real estate investment group empowers the Office of Finance with leading Corporate Performance Management solution
Tagetik, a visionary leader in global performance management software solutions, today announced that Coolinvestments has selected Tagetik 5 to manage its consolidation and reporting processes within a single, unified solution. The software will replace the company’s existing consolidation and reporting systems. The first phase of the project will include implementation of Tagetik’s consolidation and collaborative disclosure management solution.
The company’s current group reporting and consolidation process is partially supported by Hyperion Enterprise and Microsoft Excel, which is not efficient and prone to errors. It also requires a lot of manual data entry. In addition, the current implementation does not provide the robust IT solution required to facilitate the company’s growth ambitions. The new consolidation and reporting tool will manage current monthly and annual financial consolidation, including non-financial KPIs and related reporting.
“Coolinvestments conducted a comprehensive selection process to secure a software provider that could perfectly meet all of the company’s requirements, show a realistic project approach and include experts to support the implementation,” said Marco van der Kooij, managing director, Tagetik Benelux. “Tagetik outperformed the competition by leveraging rich, ‘built–in’ functionality to support a global consolidation and reporting process, as well as a strong commitment to go for the extra mile to make the project a success.”
“Coolinvestments is making a wise investment in its future by implementing Tagetik 5 to manage its consolidation and reporting functions across the company,” stated Manuel Vellutini, co-CEO, Tagetik. “The solution will provide the company with the ability to make more informed business decisions by having access to accurate data and reports in a fraction of the time of its previous solution with the ability to expand to meet their growing needs.”
About Coolinvestments Coolinvestments is a family owned Group with several fashion retail and wholesale formats, real estate portfolios and (in)direct investments. The Group originated from the CoolCat retail format which was established by Roland Kahn in 1979. Coolinvestments consists of approximately 70 legal entities in seven countries. The yearly revenue of Coolinvestments as a group is approximately EUR 500 million. The Retail part of the Group, sometimes referred to as ‘Excellent Retail Brands’, includes the fashion formats CoolCat, MS Mode and America Today and is primarily active in the Benelux, France, Germany and Spain. The Group is highly successful and operates more than 600 own shops. The Wholesale activities consist of lingerie brand Sapph and the Hong Kong based company Online Design with a wide spread international client base consisting of established large retail chains. To learn more: http://www.coolinvestments.nl/
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