When it comes to banking, efficiency is the name of the game.
UniCredit Romania has made significant strides in streamlining its data collection, consolidation, and reporting processes with the help of Inulta and CCH Tagetik’s Corporate Performance Management solution. As one of the top 5 banks in the Romanian market, UniCredit Romania faced the challenge of using Excel spreadsheets for their consolidation and reporting needs, which included the elimination of intercompany balances, equity, and investments.
Before the CCH Tagetik implementation, UniCredit Romania was using a variety of Excel spreadsheets for their consolidation and reporting needs. Inulta stepped up to the plate and implemented CCH Tagetik’s solution, streamlining the data collection and consolidation process for the bank’s actuals, all while allowing for better control and improvements in the overall process.
The CCH Tagetik solution also provided UniCredit Romania with the automation of its budgeting and planning processes, allowing it to perform various activities such as pre-seeding of the budgeting scenarios based on growth assumptions % at GL and Segment level, top-down planning for Net Fees and Commissions, Market share targets at consolidated or segment level, what IF scenarios at both Consolidated and Segment level, Targets for specific bank KPIs – either Consolidated or Segment level, and Bottom-Up Planning by Segment.
The CCH Tagetik solution not only automated the consolidation process but also enabled the bank to automatically load GL data and intercompany data by segment, perform version variance analysis, and provide easier use and better control over the overall process.
At the same time, CCH Tagetik enabled the bank to automate its reporting package that needs to be submitted to the Group. The reports are now customized and maintained by the finance team, without any need for programming knowledge. And it doesn’t stop there. The automation of the Budgeting and Planning processes enabled UniCredit Romania to perform a host of activities that previously would have taken a lot more time and effort. Pre-seeding of the budgeting scenarios based on growth assumptions, top-down planning for Net Fees and Commissions, market share targets at consolidated or segment level, what-if scenarios, targets for specific bank KPIs – all these activities are now a breeze thanks to the CCH Tagetik solution.
Inulta’s implementation of CCH Tagetik’s Corporate Performance Management solution has helped UniCredit Romania to streamline its processes, resulting in a more efficient and effective way of collecting, consolidating, and reporting its financial data. The adoption of the CCH Tagetik solution has enabled UniCredit Romania to achieve better control and improvements in the overall process, making it a top player in the Romanian banking market.
