2 March 2010
CPM is a solution for managing the fast growth at Unicredit Group
Leading industry analyst firm analyzes Tagetik and UniCredit Group longstanding Corporate Performance Management projects
UniCredit Group has implemented Tagetik 3.0 to unify Corporate Performance Management (CPM) processes: group data collection and consolidation of regulatory reporting, management and statutory reporting, budgeting and forecasting, executive dashboard, and financial reporting with group key performance indicators (KPIs) index.
Back in 2003, the company selected Tagetik 3.0 to manage and control its financial performance on group, regional and divisional levels with a single solution and chart of accounts for the entire group. In the past eight years, UniCredit Group has incrementally deployed 10 successful projects in three phases following a well-documented, high-level, long-term performance management strategy. Today, over 3,000 worldwide users manage the group's financial and regulatory consolidation process, whose key figures include about 500 consolidated companies (70% fully consolidated), and more than 6,000 financial accounts open on over 10 custom dimensions.
“Some of the strongest and most visionary banks and financial institutions, such as UniCredit Group, are using Tagetik 3.0 with successful results, receiving a highly intuitive, user-friendly solution which is fast to deploy and easy to maintain without costly external consultants or IT experts.” explains Manuel Vellutini, Chief Operating Officer at Tagetik. “Due to the sheer size of the group, UniCredit opted for a modular Corporate Performance Management rollout to ensure short project cycles, fast results and high user satisfaction. In addition to minimizing manual work, the web-based solution delivers consistent information, transparent audit trails and documented workflows across all processes, having simplified both deployment and maintenance throughout the group.”
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