Tagetik Conference September 19-20, 2013
From building blocks to a unified performance management solution
Daniel Potočnik, Tagetik Adriatic
Company and group overview
The approach
Key pain points
Project overview and scope
Project implementation
Outcome & benefits
Lessons learned
Summary
Q&A
#1 Insurance group in Adriatic region
The Triglav Group is the leading insurance-financial group in Slovenia and one of the leading groups in South-East Europe, where it is gaining ground and expanding its operations.
It is present in eight markets and seven countries and employs over 5,470 people. The Group builds its reputation on knowledge, experience, trust and excellent attitude towards its clients, employees, shareholders and other stakeholders.
The business of the Group is based on four pillars:
• Insurance
• asset management
• Banking
• activities supporting the three core financial pillars
40 subsidiaries
10 asociated companies
Multiple reporting standards
Reporting to regulator (ATVP & AZN)
Statistical reporting, Captial
Requirements...
Where we started off with Tagetik
Consolidation process outdated
Reduced reporting time windows
Increasing reporting requirements
Excel based solution – managability & stability
Complex and tough to manage collection process
Projects derived from consolidation, operational planning & controlling
From building blocks to a unified solution
8 projects + many “mini” applications
Consolidation (2010)
Operational planning (premiums) (2011)
Group controlling (2012)
Operational planning (costs) (2012)
Triglav Osiguranje – Croatia roll-out (2012)
Financial investments reconcilliation (2012)
Solvency II (Pillar II & Pillar III) – in progress (2013/2014)
CDM – in progress (2013/2014)
Notes to accounts
Monthly: Actuals + Forecast (cons.) + Plan (cons.) + Strat Plan (cons.)
Common controlling reporting for subsidiaries
Rolling forecast
Full analytics on financial statements
Audit support
Valuation of investments
Local GAAP support
All group companies take full advantage of common applications (controlling, solvency, consolidation) Operational processes can be easily adopted to local requirements
Shorter preparation cycles
Manageable and traceable data collection process
Full audit trail
Automatization (example curency conversions)
IC Matching -> process pushed down to subsidiaries
Drill down and analytics
Management support Dedicated team
In the middle of two projects
Sucesfull completion of current work in progress (Sovency II & CDM)
Ideas for the future
Triglav Group is #1 insurance company in Adriatic region
8+ projects on Tagetik
Focus on individual areas benefits on group level
Benefits on all areas of finance & controlling
Current focus is Solvency II and CDM
New ideas will come naturally