Cases
Fugro
CCH Tagetik
Fugro, the world’s leading Geo-data specialist, implemented CCH Tagetik on HANA to replace its existing Oracle Hyperion Financial Management (HFM) solution for consolidation and group reporting.
Key challenges
- IFRS-based financial consolidation and reporting for actual, budget and forecast data
- Source data acquisition from over 300 legal entities using 5 master ETL routines
- Interpretation and migration of HFM rules file to CCH Tagetik functionality
- Excel-based consolidated cash flow statement migrated to CCH Tagetik
- Complex DSO formula using the absorption method of calculation
- HFM’s entity dimension not only featuring legal entities but also managerial units
- Extensive management reporting decks in Excel and PowerPoint
Project highlights
- Integrated data model for IFRS- and management reporting purposes
- Income statement by region / division / business line / service line
- Matrix consolidation with intercompany eliminations by entity and by region
- Entity dimension featuring only legal entities for easier intercompany reporting
- Monthly consolidation incl. automatic equity pick-up & equity consolidation incl. CTA
- Classroom trainings delivered globally for a 200+ user base
Key benefits
- Delegated intercompany matching using the CCH Tagetik IC matching cockpit
- Phased submission using the CCH Tagetik process management cockpit
- Cost allocations using the CCH Tagetik allocation engine to enable P&L by region
- Fully automated equity pick-up and equity consolidation