The power of performance

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Fugro

Fugro

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

With our HFM licenses expiring, we were looking for a solution to not just replace existing functionality, but to also enhance and automate our consolidation and reporting processes. It wasn’t always an easy ride, but in the end I am very positive and satisfied with Satriun and with CCH Tagetik on HANA, and believe it was the right choice of software and partner.

David-Alexandre Guez

Group Controller , Fugro

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Cable Connectivity Group

Cable Connectivity Group

Cases

Cable Connectivity Group

OneStream XF

Cable Connectivity Group, a European leader active in the production, distribution and assembly of specialty cables and cable connectivity solutions, has more ownership over data and reporting and more consistent, higher quality and better auditable data thanks to its new OneStream XF corporate performance management cloud platform implemented by Satriun.

Key challenges

  • IFRS-based financial consolidation and reporting
  • Actual data acquisition from 12 different data sources
  • Budget and forecast data acquisition
  • Financial statements, IFRS disclosure notes and non-financial performance indicators
  • Focus on and automation of cash flow statement and short-term cash flow planning

 

Project highlights

  • Monthly consolidation incl. equity pick-up & automatic equity consolidation incl. CTA
  • Senior Facility Agreement (SFA) compliancy and SFA-specific cash flow statement
  • Integrated data model for IFRS- and management reporting purposes
  • Weekly cash planning, 13 weeks rolling forward
  • Tax accounting including generation of tax journals to be posted in general ledgers

 

Key benefits

  • More ownership over data and reporting
  • More consistent, higher quality and better auditable data
  • Reduced manual effort during the consolidation process
  • Valuable insight into cash flows statements and equity consolidation
  • One integrated data model and platform as a single source of truth

We were keen to use the momentum of replacing IBM Cognos Controller with OneStream XF to enhance our financial consolidation and reporting processes and methodologies. Satriun has demonstrated their capabilities to advise us with best practices, enabling us to consolidate and report faster and with increased value added to our board of management.

Geert-Jan Ottenheym

Group Controller , Cable Connectivity Group

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Mokveld

Mokveld

Cases

Mokveld

FCCS / Oracle EPM Cloud

Mokveld, a globally active manufacturer of engineered valve systems, has more ownership over data and reporting and more consistent, higher quality and better auditable data thanks to its new corporate performance management cloud platform: FCCS / Oracle EPM Cloud implemented by Satriun.

Key challenges

  • Management- and IFRS reporting from a single source of truth
  • Need to streamline and speed up the reporting process
  • Income statement by nature and by function
  • More focus and automization of cash flow statement and equity consolidation

 

Project highlights

  • Monthly data collection
  • Financial consolidation and management reporting
  • Automated cash flow reporting
  • IFRS consolidated financial statements

 

Key benefits

  • More ownership over data and reporting
  • More consistent, higher quality and better auditable data
  • Reduced manual effort during the consolidation process
  • Valuable insight into cash flows statements and equity consolidation

 

Our primary goal was to smoothly replace Oracle Hyperion. Satriun’s best practices enabled a streamlining and optimization of our reporting process in Oracle FCCS, including the cash flow statement. Satriun delivered the Oracle FCCS implementation at a high pace while still keeping control over the quality and the cost of delivery.

Sjaak Boeijenga

CFO, Mokveld

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Bazan

Bazan

Cases

Bazan Group

Bazan, Israel’s largest oil refinery, shortens legal reporting, increases data quality and improves data analysis capabilities thanks to its SAP Financial Consolidation implemented by Satriun.

Key Facts

  • Replacing the spreadsheet-based consolidation process by a sustainable tool and a new process
  • Industrialize the production of the numerous output reports
  • Shorten reporting schedules while increasing data quality

 

The Solution

    • Satriun consulting team with consolidation, reporting and SAP Enterprise Performance Management software expertise
    • SAP Financial Consolidation as one single group platform for management and statutory consolidation and reporting
    • Data integration with SAP Financial Information Management Reporting ‘Last Mile’ with SAP Disclosure Management

 

Key Benefits

  • Fast and accurate quarterly data reporting
  • IFRS consolidation and financial statements produced with ease, including automated Cash Flow Statement
  • Full connectivity between SAP ECC – SAP FC – SAP DM – A com-plete ‘Close-to-Disclose’ process

 

Satriun combines excellent knowledge of both group accounting and SAP EPM solutions. That was a critical success factor of our project. Our choice for SAP and Satriun proved right and allowed us to deliver on-time a modernized IFRS reporting while increasing the quality and confidence in our financial statements.

Shai Abramovich

Head of Accounting Division, Bazan

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Agfa-Gevaert Group

Cases

Agfa-Gevaert Group

The Agfa-Gevaert Group develops, produces and distributes an extensive range of imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications.

Agfa’s headquarters and parent company are located in Mortsel, Belgium. The Group’s operational activities are divided in four divisions: Offset Solutions, Digital Print & Chemicals, Radiology Solutions, and HealthCare IT. All divisions have strong market positions and well-defined strategies.

Agfa’s largest production and research centers are located in Belgium, the United States, Canada, Germany, France, the United Kingdom, Austria, China and Brazil. Agfa is commercially active worldwide through wholly owned sales organizations in more than 40 countries. In countries where Agfa does not have its own sales organization, the market is served by a network of agents and representatives.

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