CCH Tagetik empowers global financial consolidation process and analysis

keller

The Client

About
Keller Group

Keller Group plc is the world’s largest geotechnical specialist contractor and is listed on the London Stock Exchange as a constituent of the FTSE 250 Index. It connects global resources with local knowledge to tackle over 6,000 construction projects around the world, from industrial, commercial and housing projects to infrastructure construction for dams, tunnels, transportation and water treatment.

Operating globally with 64% of its revenue coming from North America, 22% from Europe and 14% from Asia-Pacific, Middle East and Africa (AMEA), Keller has 10,000 employees and operations across five continents.

The Challenge

As a global organisation with 19 business units, as well as diverse entities and revenue streams, the need for accurate and consolidated financial reporting is critical for decision-making, regulatory compliance and strategic planning. In addition, the FTSE 250 company’s requirement to provide investors and shareholders with accurate, up-to-date financial performance information is critical to the ongoing success of the business.

The Keller Group has been utilising finance and enterprise performance management solution CCH Tagetik for the past 13 years to streamline its financial processes and gain insights into its operations. Sam Pillay, Group Consolidation Manager, Keller Group plc says, “We moved to Tagetik a number of years ago as its capabilities support our requirement to provide financial consolidation for both monthly and statutory reporting across over 60 active entities within the Group globally”.

To ensure CCH Tagetik meets Keller’s changing needs, the Group consolidation team works closely with Codestone to roadmap and realise the continuing development and optimisation of the financial performance platform.

We moved to Tagetik a number of years ago as its capabilities support our requirement to provide financial consolidation for both monthly and statutory reporting across over 60 active entities within the Group globally.

Sam Pillay

Group Consolidation Manager, Keller Group plc

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The Solution

CCH Tagetik, implemented and supported by Codestone, simplifies data integration by consolidating it from multiple ERP systems and local financial databases across the Group. It delivers a unified financial analysis platform to these currently disparate sources, enabling the incoming data to be structured in a comparable way and presented homogeneously for reporting, compliance and decision-making.

Codestone works on a consultancy basis with Keller, not only to implement systems, but in understanding Keller’s financial processes and change requirements needed for the Group consolidation team.

The Codestone consultants are an excellent resource of knowledge and expertise for our CCH Tagetik solution, supporting us in development, particularly when we don’t have the specific in-house capability or the time to allocate to it ourselves.

Sam Pillay

Group Consolidation Manager, Keller Group plc

Consolidation and reporting:

CCH Tagetik forms the foundation for consolidating financial data from various entities and systems across the Group and enables the creation of financial reporting. The solutions integration capabilities unifies the data and ensures that disparate data is homogeneous and therefore comparable across the business, enabling accurate financial analysis and reporting.

Construction contract management:

Using CCH Tagetik, Keller runs a construction contract management database that allows the Group to track and analyse its extensive portfolio of active contracts.
By centralising contract data and updating it on a monthly basis, the Group gains visibility into contract performance, revenue, margins, and estimates. This visibility aids in identifying top-performing and underperforming contracts, giving the Board and senior executives insights into key metrics such as the top 50 largest contracts.

IFRS 16 Compliance:

CCH Tagetik’s integrated fixed asset database helps the Group in managing lease accounting in compliance with IFRS 16. This functionality streamlines the process of calculating and reporting lease-related impacts on the balance sheet and income statement.

The move to CCH Tagetik Cloud

Keller will shortly move from its on premise solution over to CCH Tagetik Cloud. This will reduce hardware, infrastructure and resource costs while enhancing scalability and security as well as providing automatic software updates. Codestone provides ongoing support to Keller, ensuring the highest levels of business continuity and application lifecycle management.

Sam highlights, “CCH Tagetik is pivotal to our business; we use it for our three main forecasts each year and for budget creation. Codestone de-risks our processes in CCH Tagetik by giving us access to experienced consultants who support us on a need-by-need basis and provide mission-critical advice and guidance.”

Discover the Benefits

  • graph

    Unified data

    CCH Tagetik integrates data from various sources to provide a single source of truth for financial reporting and analysis.

  • Support

    Highest levels of continuity

    With Codestone’s experienced consultants and support team, Keller ensures that its financial management system is continuously optimised for business performance and runs fault free.

  • pie chart

    Consistency and comparability

    The financial consolidation team is able to harmonise data to ensure consistent financial reporting across entities and regions, to make meaningful comparisons.

  • visual

    Operational insights

    The construction contract management database integration empowers the Group to analyse contract performance and operational gross margins.

  • Money

    Cash visibility

    The weekly cash forecasting model offers insights into liquidity, supporting cash management and financial planning.

  • tick

    IFRS 16 Compliance

    CCH Tagetik supports IFRS 16 lease accounting to help the Group meet regulatory requirements.

  • chart

    Integrated financial solution

    CCH Tagetik's integrated approach eliminates the need for multiple solutions, promoting efficiency and data consistency.

To have the expertise and knowledge that Codestone provides on tap is absolutely pivotal to ensuring that our CCH Tagetik solution runs seamlessly and continues to meet our needs for joined up financial consolidation insights across the global business. CCH Tagetik helps us run our business at an executive level by being able to provide the Board with a real-time, accurate view of the Group’s financial position.

Sam Pillay

Group Consolidation Manager, Keller Group plc

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