Swarovski

The Swarovski Group is mainly known to the public through its crystalline products. Beyond the crystal business, the corporate group is engaged in other business areas that are involved with optical precision instruments and grinding tools.

The Swarovski Group covers more than around 200 reporting subsidiaries that have to be included in the scope of consolidation. In order to streamline these processes in the finance department as well as to increase the consistency of financial data,the Swarovski Group released its BI strategy. As consequence, the enterprise initiated the integration of their consolidation process into the business intelligence (BI). 

The existing consolidation solution did its job, but did not really fit into the BI infrastructure. The goal was to switch to a high-performance consolidation software designed for the complex requirements of corporate group.

The CCH Tagetik solution

CCH Tagetik's interplay with SAP HANA proved to be convincing.Starting with 16 solutions, a short list was prepared with six providers whose systems were evaluated. "Several tipped the scales in favour of CCH Tagetik", reports Thomas Bode, Global Head of Enterprise Data & Analytics at Swarovski. "We noted that the provider was very dedicated, even during the selection process. Detailed information was provided in response to enquiries, and that was a good sign. CCH Tagetik's consolidation engine, which is integrated into a clear consolidation framework, was also a clear advantage over the competitors."

Today CCH Tagetik is used for consolidation and planning processes on SAP HANA within the Swarovski Group. Local Accounts & controllers submit their financial statements to the group through CCH Tagetik. A workflow guides them through the required steps, which has considerably simplified the process. 

Main advantages