Case Study: Swissbit AG achieves faster monthly closes with CCH Tagetik

Swissbit AG speeds monthly close 25% with CCH Tagetik

Swissbit AG, a technology manufacturer, faced significant financial management challenges during a period of high growth and acquisitions. Its slow, manual, and spreadsheet-dependent processes struggled with a complex transition to IFRS accounting standards and currency, making accurate consolidation, historical data restatement, and timely reporting difficult. To overcome this, Swissbit partnered with vendor CCH Tagetik to implement its Financial Close and Consolidation along with Budgeting, Planning, and Forecasting software.

The CCH Tagetik solution provided a unified, automated platform that became Swissbit's single source of truth. It automated data integration and complex consolidation across 10 entities, restated historical data for IFRS compliance, and streamlined workflows. The results included a 25% faster monthly close, 100% automation of data ingestion, and accurate, compliant reporting. CCH Tagetik delivered the scalable platform Swissbit needed to support its ongoing growth.

Swissbit AG