IFRS statutory consolidation, Quarterly forecasts, KPI management reporting
”With CCH Tagetik, consolidation and management reporting are now at the core of our group’s financial management, thanks to the software’s greater flexibility and the improved response-time it allows our teams.”
Thierry de Taeye - VP, Group Accounting and Controlling
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MERSEN realised that consolidated reporting was far from prominent among management’s operational concerns. The existing software no longer met the needs of the Group’s managers or financial officers: there were frequent changes in the scope of consolidation and analyses of previous performance and forecasts were needed.
These different issues or analyses were therefore handled through parallel reporting, which entailed replicated data entry and multiple reconciliations after the fact. In the end, the overall quality of financial disclosures and the cycle time required to produce them were deemed inadequate.
Following a Call for Tenders issued in 2011, Mersen selected CCH Tagetik among the 3 finalists. CCH Tagetik’s consolidation and management reporting solution has indeed fulfilled the Group’s functional needs, with the added advantages of extremely simple architecture and easy, centralised internal management. CCH Tagetik’s Excel interface requires no special skills on the part of users. The CCH Tagetik Analytics cube was also chosen to unify data whether it is in the CCH Tagetik database or not. The solution’s powerful analytics, combined with financial intelligence, are thus put to work serving users directly through in a single interface.
The project, which started up in February 2012, was fully operational by November of the same year. “Eight months for a project of this size was a real challenge! This was not a simple copy-and-paste operation: we took advantage of the project to supplement and improve the configuration”, Thierry de Taeye explained.
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