Case Study: Alcatel‑Lucent Enterprise achieves faster reporting, a 2‑month quicker year‑end close and €500K annual savings with CCH Tagetik

How CCH Tagetik helped Alcatel-Lucent reaching its business objectives through a solution for Consolidation, Budgeting, Planning and Reporting on cloud

Alcatel‑Lucent Enterprise, a leading business communications company with 20 subsidiaries across 42 countries, faced unreliable financial data and slow, error‑prone reporting after becoming an independent group in 2014. Relying on Excel and disparate accounting systems made multi‑currency and multi‑standard consolidation difficult, increased manual work, and lengthened the annual close and audit processes.

The company implemented CCH Tagetik in the Cloud to create a single, secure financial database that connects to each entity’s accounting software and provides full traceability for auditors. As a result, monthly reporting time fell from 10 to 8 days, report standardization gained a week, the annual close was shortened by more than two months, headcount for reporting dropped from six to four, and the solution is projected to save about €500,000 annually with a payback in under one year.

Alcatel-Lucent Enterprise

Bernd Stangl

Chief Financial Officer