Switching to the cloud with CCH Tagetik for Kelvion

Global heat exchange, cooling system, and engine specialist Kelvion’s on-premise system was badly in need of an operating system update in order to benefit from the latest CCH Tagetik functionalities. As a more efficient and forward-looking approach, CCH Tagetik proposed a transition to the cloud platform.
The transition from on-premise to cloud system needed to be completed in the context of tight monthly reporting deadlines for both internal and external stakeholders. 

To improve the overall performance within the system, Kelvion also decided to switch to the future-proofed CCH Tagetik in-memory consolidation engine to obtain overall performance improvements.
The replacement of the externally-managed Excel reporting tools through CCH Tagetik standard reporting tools and the replacement of a competitor solution through CCH Tagetik Budgeting and Planning finalized the migration to the Cloud project. 

The CCH Tagetik cloud based solution

The chosen solution was CCH Tagetik for Consolidation, Budgeting & Planning, Financial and Management Reporting, and Disclosure on Cloud. With switching to the cloud Kelvion gains functional enhancements, and stabilization and performance improvements of the specified financial information system.

Kelvion decided to boost the existing business functionalities for financial consolidation. In addition Kelvion  elected to replace a competitive financial planning application with CCH Tagetik Budgeting and Planning and replace their Excel-based management reporting system with CCH Tagetik standard reporting tools.

Main advantages Kelvion gains with CCH Tagetik cloud software replacing the competitor's application