"Tagetik has dramatically improved our planning and control

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