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.

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.

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.

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.

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.

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.”