The world’s largest pasta maker to leverage Tagetik’s built-in financial intelligence for financial planning, annual and sustainability reporting
Tagetik, a visionary leader in global performance management software solutions, today announced that Barilla (Barilla G. e R. FratelliS.p.A.)has chosen Tagetik’s cloud corporate performance management (CPM) software solution to prepare its annual and sustainability reports, as well as manage the financial planning for the multiple companies within the Barilla group..
Barilla, which was already producing its annual report with Tagetik, has upgraded to the latest version of the software: Tagetik 5. The company will take advantage of the Collaborative Disclosure Management (CDM) functionality to integrate the multiple writing activities and calculations necessary for producing final reports.
Barilla will also replace an existing planning system with Tagetik in order to benefit from the software’s native double-entry logic and built-in functionality to manage group’s financial planning processes. The sustainability reporting implementation, still in progress, will replace multiple spreadsheets used to collect business indicators from multiple departments as well as establish workflows of activities, tasks and related controls to produce the sustainability report.
“The model we implemented with Tagetik is based on the integration of budget and management data with accounting, fiscal and financial data and a series of assumptions to determine, calculate and manage key strategic variables for our business. In addition to meeting the complex needs of our finance department, the software will enable us to forecast profit and loss and generate balance sheets and detailed cash flow statements throughout complex planning processes across multiple entities with confidence. Moreover, we will have the ability to build alternative ‘what-if’ scenarios that are perfectly in line with the strategy behind our business,” said Roberto Soresini, director of group planning & managerial process and consolidation financial statements, Barilla G. e R. FratelliS.p.A.
“Barilla is a leader in the global food industry whose brand is universally recognized as synonymous of Italian pasta. We are proud to have them as a customer,” said Manuel Vellutini, Tagetik co-CEO. “Our cloud CPM solution has the advanced financial intelligence to meet Barilla’s requirements along with the benefits of cloud deployment. Our unique ability to provide ‘the cloud without compromise’ is what allows us to successfully support the complexity and scalability of global organizations in the cloud. The ability to effectively and flexibly meet the ever-evolving sophisticated needs of the office of finance with a cloud-based, unified solution is what makes us truly unparalleled in the CPM market landscape.”
Tagetik understands the complex challenges that face the Office of Finance and translates that knowledge into intuitive, enterprise-scale performance management software solutions that drive business results. With Tagetik, companies get the simplicity of the Cloud and the power to unify financial and operational planning; shorten the consolidation and close process; immediately analyze results, model and compare full financial statement impact of business scenarios; adjust strategic plans; seamlessly update rolling forecasts; produce formatted and auditable financial statements and management reports; collaborate on business reviews, and automate disclosure and board reporting. Tagetik has built-in financial intelligence so that CFOs, finance managers, and operations executives can orchestrate multiple or all processes in one software solution. More than 750 customers across 35 countries count on Tagetik to improve efficiency, reduce risk, save money and deliver results.