Case Study: Aegon achieves streamlined, faster financial management and granular product costing with CCH Tagetik

Aegon modernized their consolidation & reporting as a means to remedy their fragmented processes

Aegon Asset Management, a global active investment manager, faced fragmented financial processes built on Hyperion Essbase, Microsoft Access and Excel, which left data dispersed, allocation logic limited and planning and actuals on different platforms. This made accurate reporting, granular costing and rapid product pricing difficult, and the Office of Finance needed greater agility, controls and SOX-compliance to support fast-moving product development.

By implementing CCH Tagetik for budgeting and planning, management reporting and statutory consolidation, Aegon centralized its data in a single platform and adopted driver-based planning with proper segregation of duties. The new solution delivered detailed product pricing and costing, cut a cost-allocation cycle from 15 days to 3, replaced 23 data feeds with one automated feed, eliminated manual GL entries and gave the CFO and finance team faster, more reliable reporting.

Aegon

Larry Brislawn

Senior Finance Manager