EFTA01092002.pdf

"Tagetik has dramatically improved our planning and control processes, converged our data flows for statutory and management reporting, and streamlined our financial close." Stefano Cardello Chief Financial Officer at API Group The Challenge Company API Group To successfully manage business performance in the energy industry. API Group needs fast. reliable insight on its complex business activities. Prior Industry to deploying Tagetik. however. extracting that knowledge and making Energy informed decisions from a pool of 20 million data records per year was easier said than done. Corporate Performance Until 2008. the company's finance department was still using spreadsheets Management to manage key business processes. To complicate matters. its accounting • Planning. budgeting and systems and reporting processes were not connected. This made tracing forecasting the data in the later stages of the budgeting, reporting and financial close • Management and legal processes extremely difficult and time-consuming. consolidation • Financial close The Objectives • Segment reporting Due to the growing complexity of its business and its systems. API Group Key facts saw the need to deploy a modern CPM solution. In particular. the company •100 users needed to accelerate the process of producing financial statements and •15 million data records per year statistics while providing better information for making decisions. To • 8.000 cost centers improve data quality. enable traceability and minimize manual work. the •10 dimensions of analysis company also wanted a tight connection between the CPM platform and underlying transactional systems. • Statutory consolidation of 60 companies in foreign currencies After a thorough evaluation of different vendors and solutions. the company chose Tagetik because it could integrate its management and statutory Application Architecture requirements on a single Corporate Performance Management (CPM) • Automated integration between platform. SAP R/3. SAP BW. and Tagenk • Financial data mart based on To feed the Tagetik dashboard with information from its transactional Microsoft SQL Server systems. the company implemented a financial data mart based on • Non•ERPdata input system based Microsoft SQL Server. This information is kept up to date through a direct on Microsoft Excel connection to SAP R/3 as well as a data input system based on Microsoft Excel. Requirements • Collection of operating costs • 3-year business plans • Segment reports for different business mews • Reliable. traceable KPIs Release Date. March 2014 EFTA01092002  The Results and Benefits Benefits • Better data quality with less manual work Thanks to Tagetik. API Group has successfully streamlined its planning. reporting and control processes. It now conducts management • Faster process cycles consolidation and reporting in the same application that it uses for the • More insight on dynamic financial close and statutory reporting. As a result. the company has been business actMties able to minimize repetitive work and data inconsistencies. Users can now access over 1million records from an SAP system containing over 20 million records. The CPM solution produces approximately 100 reports. 20 of which are used by management for 'API Group now strategic decision-making. conducts management Tagetik has also integrated the processes of strategic planning and operative budgeting. Thanks to its built-in features and process support. consolidation and users have gained valuable time to analyze their data and business scenarios. reporting in the same Over 60 users currently use Tagetik for planning and budgeting. Individual application that it uses contributors can now compare detailed. up-to-date information on a for the financial close secure and fully traceable platform. Users can also analyze the data from multiple dimensions such as cost centers. distribution channels. products and statutory reporting. (raw materials or finished goods). type of movement and shipping (cost fluctuations depending on the vessel used for transporting raw materials). Tagetik has also Due to the streamlined data collection process. API Group can create more integrated the processes accurate budgets and forecasts up to 30% faster than in the past. What% more. users see how changes in the budget can impact the bottom line of strategic planning and analyze variances and easily trace data back at a later point in time. operative budgeting. About API Group API Group can now API Groups a iead.ng Ratan refining. marketing and power generation create more accurate company. The company based in Rome is 100% privately owned and has been operating in the Italian oil downstream market for over 70 years. budgets and forecasts up API Group imports crude and feedstocks. refines them at its Falconara site to 30% faster and sells oil products and electric power in Italy. The company's wholesale channel offers heating products. motor fuels. bitumen. lubes and LPG. The than in the past." group also distributes motor fuels through its retail network under the brand P. ranked second in Italy by the number of service stations where it is sold. =Pr Taget Release Date Mercy EFTA01092003