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Transforming Financial Consolidation: Trevi Group Achieves Real-Time Data Acquisition Leveraging CCH Tagetik

While they expertly deliver innovation and quality to their customers, Callaway Golf’s previous planning and reporting tool wasn’t making the cut. To evolve their enterprise, the sports giant decided to replace their outdated planning software with SAP Analytics Cloud for planning.

Together with Avvale, Callaway Golf successfully implemented SAP Analytics Cloud across their global enterprise in just 6 months. Now, Callaway Golf has a single, consolidated planning solution that has enabled streamlined expense and asset plans so they can focus on what they do best– revolutionizing the sporting world with cutting edge equipment.

trevi-group

Established in Cesena, Italy, in 1957, Trevi Group is a global leader in underground engineering, offering comprehensive services from special foundations to soil consolidation and recovery of polluted sites. The company's success is rooted in internationalization, integration, and continuous innovation between its divisions: Trevi, which undertakes large infrastructure projects, and Soilmec, which designs and manufactures specialized machinery.

The Challenge

Trevi Group faced significant challenges in its financial consolidation process due to the complexity of existing workflows. The legacy system, heavily reliant on manual data entry and reconciliation, led to time-consuming processes and increased the risk of errors. With approximately 70 fully consolidated companies operating in 35 different currencies, Trevi Group needed a robust and automated solution to streamline financial consolidation and manage multiple currencies. Seeking a more integrated and efficient solution, Trevi Group initiated a project to manage the statutory consolidation process using CCH Tagetik software. The divestment of the Oil & Gas divisions in 2020 added another layer of complexity, requiring automatic management of the IFRS 5 principle and the subsequent deconsolidation of exited companies. The primary objective was to enhance the accuracy, efficiency, and timeliness of financial reporting, enabling better decision-making and strategic financial management. 

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The Approach

The project involved integrating the new ERP system, SAP S/4HANA, with CCH Tagetik to streamline data production and enhance the logical flow of information. Avvale’s excellence in Consolidated Financial Statements and our competence center on CCH Tagetik, recognized for its market-leading CPM capabilities, made us the ideal partner.

Adopting a Hybrid Agile methodology facilitated rapid implementation in the EPM domain. The goal was to empower central users in consolidation tasks while enabling peripheral users to handle data loading and verification activities independently.

The solution focused on automating data acquisition from the ERP in real time, significantly reducing the time required for financial consolidation. Avvale’s team developed a module for Analytical Reconciliation of Intercompany Transactions, ensuring consistent and accurate data flow from individual invoices to consolidated financial statements. This integration facilitated drill-through capabilities, allowing users to trace synthetic data back to its analytical origins, enhancing data transparency and accuracy.

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The Challenge

Before integrating SAP Analytics Cloud, Callaway Golf's planning landscape centered around SAP's legacy planning solution, Business Planning and Simulation (BPS). While BPS met Callaway Golf's planning needs for many years, the enterprise began to experience limitations with their old solution:

  • Disconnected plans across the board: As Callaway Golf expanded and acquired new brands, planning processes greatly differed across the enterprise with some business units using Excel spreadsheets and others using legacy solutions for planning.
  • Outdated planning functionalities: The existing legacy planning solution lacked many modern functionalities. Among them, salary calculations and asset depreciation automation needed improvement. As a result, it became difficult to create detailed and accurate forecasts across the globe.
  • Significant IT support: The legacy solution required continuous management from IT to maintain runtime. IT had to carve out a full day every week to manually maintain the solution.
  • No single source of truth: Various departments and brands used different data sources, which led to data silos across the organization, making it difficult to gain a clear picture of the enterprise's planned expenses.
  • Rigid user interface: Legacy forecasting system was difficult to navigate and lacked working functions and calculations across the board, such as planning on depreciation and existing assets, adding vendors or members on the fly, and breaking down their cost center expense planning forecasts.

The Approach

With Avvale experts on their side, Callaway Golf laid out the following goals for their new planning landscape with SAP Analytics Cloud:

  • Crowdsource and consolidate plans across the enterprise to gain a global overview of their planned expenses and expand the input capabilities to each responsible owner.
  • Leverage elevated planning functionalities to create faster and more accurate forecast cost center expense and asset reports. The ability to customize calculations enhances and automates the reporting metrics.
  • Harness the power of self-service analytics to alleviate IT from the burden of simple maintenance and data entry requests, so they can focus on high-ROI tasks.
  • Maximize user-driven admin capabilities to control the management of calculations and forms.
  • Create new KPls driven by the business needs.

When SEM-BPS was the center of Callaway Golf's planning landscape, flexibility was a huge factor that was missing. SAP Analytics Cloud contains powerful scenario planning capabilities that help organizations quickly uncover actionable insights to make data-driven decisions. For Callaway Golf, SAP Analytics Cloud's modern planning functionalities provided users with the ability to:

  • Add members on the fly
  • Plan on existing as well as planned assets and automatically calculate the depreciation of values
  • Test "what-if" scenarios for deeper analysis by creating private versions of plans
  • Customize the solution based on their current business process
  • Perform driver-based calculations
  • Empower users to execute end-to-end planning scenarios, without the help of IT

The Impact

The implementation of CCH Tagetik integrated with SAP S/4HANA resulted in a substantial transformation for Trevi Group. Data acquisition time was slashed to about 20 seconds, significantly expediting the production of consolidated financial statements. Automation enhanced accuracy and timeliness, fostering a more strategic financial management approach.

The Analytical Reconciliation module ensured precise intercompany transaction reconciliation, minimizing errors and providing enhanced visibility. This empowered users to make informed decisions with drill-through capabilities. Additionally, data acquisition in both company and transaction currency facilitated precise reconciliation, including exchange rate difference calculation for each invoice. Through successful collaboration with Avvale, Trevi Group achieved a sustainable and future-proof financial consolidation system.

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