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St.Galler Kantonalbank

St.Galler Kantonalbank implemented CCH Tagetik’s software solution for Statutory Consolidation, Financial Reporting

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The Challenge

Excel had served the company well as a consolidation tool. Following the acquisition of several companies, the establishment of a sub holding and the addition of the Euro as a foreign currency, the group accounting realized that it had outgrown its former tool.

The growing need to improve its internal control systems as well as to increase the transparency of its group accounting processes solidified the decision to implement a new solution.

 

CCH Tagetik Solution

In close cooperation with pmOne’s partner Alper & Schetter, a small project team at St.Galler Kantonalbank was able to implement a complete, standardized solution for collecting and processing data for each consolidation event (i.e. monthly, quarterly, half-year, annual consolidated accounts as well as budgeting) between March and September 2010.

In addition to consolidation, the solution also provides rich functionality for reporting actuals as well as budget actual variances. Users can import budget data into CCH Tagetik and use the same functionality it can for actuals. Overall, 17 users – from the accounting and financial controlling departments at group headquarter as well as the accounting departments of the subsidiaries – work with the software. Internal and external auditors are connected to the new solution.

Discover why St.Galler Kantonalbank trusts CCH Tagetik!


St.Galler Kantonalbank implemented CCH Tagetik’s software solution for Statutory Consolidation, Financial Reporting

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Benefits

Unified solution

Standardized consolidation & reporting tool

Highly efficient workflows

From collecting and processing to consolidating and reporting data

Consistent financial reporting process

Direct integration of the publishing application into the solution thanks to the msft integration

Strong user acceptance

Users profit from new functionality without having to give up their familiar Excel environments

Improved audit

Internal and external auditors are connected to the new solution

Flexibility

High level of built-in functionality ensures flexiblility for the special needs of the banking group

Customer Quote

CCH Tagetik’s software is targeted to the future. Unlike other vendors, it makes a huge commitment with a roadmap for the next five years. You can tell that the company stands behind its software and makes a considerable investment in it. In addition, the software’s built-in intelligence reflects the real needs of customers.

Thomas Bünger - Deputy Head of Accounting