Raiffeisen Bank implemented CCH Tagetik’s software solution for Planning, Budgeting and P&L statements, Consolidation of Budget and Forecast Data
FinanceSeptember 01, 2017|UpdatedJanuary 07, 2021
Raiffeisen Bank International
In just a few weeks, two people were able to build a standard planning environment that we could use to consolidate a minimal data set, generate budgeted balanced sheets and P&L statements, and analyze them from any angle. CCH Tagetik is really easy to understand because the data model has a logical setup. We can now quickly identify where there is a problem in the underlying processes and as well as where we need to start to fix it.
It goes without saying that a specialized IT solution can fulfill various business requirements for consolidating budget and forecast data. Two factors that helped make this project a success at Raiffeisen Bank International (RBI), however, were the rapid deployment and flexibility of CCH Tagetik.
Using this software, an internal project team was able to build a group planning and budgeting system by itself – supported by just a few man-days of external consulting. In addition to meeting all of the finance department’s requirements, the solution facilitates the daily work for users in both the company headquarters and business units.
The CCH Tagetik solution
Raiffeisen Bank International AG (RBI) is one of the leading banking groups in Austria as well as throughout Central and Eastern Europe. The company has achieved strong growth in recent years and expanded its business operations across 17 different countries in the region.
RBI searched for an enterprise system for consolidating planning and budgeting data.
Main advantages
Table title
Flexibility |
Flexible organizational structures to manage new entities and account |
Fast deployment |
Short implementation phase with an intense testing period |
IC reconciliation |
Easy reconciliation and automatic balancing of intercompany relationship |
Better data quality |
Better data quality and more transparent business processes |
Web solution |
Web solution and online validations with direct response |
Successful knowledge transfer |
Fast knowledge transfer through pmOne/CCH Tagetik coaching |
Related Insights
-
WebinarFinanceOctober 30, 2024
Banking on Success – A case study on Financial Transformation
An insightful webinar where we share our journey in implementing a comprehensive budgeting and planning solution for banks -
ArticleComplianceFinanceTax & AccountingOctober 23, 2024
Wolters Kluwer BEPS Pillar Two Procurement Checklist
The BEPS Pillar Two Procurement Checklist is a practical guide designed to assist multinational enterprises (MNEs) in preparing for the upcoming compliance requirements under BEPS Pillar Two. -
ArticleComplianceFinanceTax & AccountingSeptember 18, 2024
Modernising the corporate tax function - technology insights
OneTeam’s focus on simplifying data management and streamlining workflows, combined with CCH Integrator’s tax expertise, creates a powerful toolset for tax professionals. -
WebinarFinanceSeptember 10, 2024
Top 5 mistakes finance leaders make when evaluating new software
In this webinar, we explore how to select the best tools for growth and highlight five common mistakes finance teams make when evaluating new software.
