Budgeting & Forecasting, Profitability Analysis, Statutory Reporting and Consolidation
"Leveraging the built-in reporting capabilities of CCH Tagetik’s software, we have a consistent and robust mechanism for calculating our KPIs, enhancing our insights into business results and improving our capabilities for capacity and resource planning, as well as, just-in-time corrective action.”
Nikos Dimakos - Partner, Management Consulting
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KPMG in Greece wanted a holistic and robust solution to facilitate budgets, rolling forecasts, statutory (local GAAP) and IFRS reporting as well as management and profitability analysis. Prior to implementing CCH Tagetik’s software, all these processes were supported and carried out using several tools and financial models, that were developed in the core operational systems or Excel files.
The decision to replace these with CCH Tagetik, was driven by the need to have enhanced information workflows, reduced input and assumption errors and consistent sharing of key financial information based on company approved calculation methodologies and KPIs.
KPMG implemented a complete solution for collecting and processing actual, budget and forecast data. At the same time, statutory and management reporting is transparently prepared with no extra effort and cost, based on the unified organizational, account and service taxonomies imported and maintained into CCH Tagetik’s software.
The overall process is much more efficient, easy to use and understand, well accepted and adopted by all functions and teams including profit centers, accounting and finance as well as the board of directors. Having automated the data imports from the Practice Management System, the General Ledger and the HRMS systems, each contributor and/ or information user is prompted with a management cockpit to effectively evaluate and manage his/her financials and analytics for capacity and resource planning.
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