Case Study: Swissbit AG achieves faster financial close with CCH Tagetik

Swissbit AG speeds monthly close by 25% with CCH Tagetik

Swissbit AG, a Swiss manufacturer of industrial-grade storage and embedded IoT solutions, faced significant challenges in its financial processes. Its fragmented, Excel-based systems led to slow monthly closes and struggled to handle the complexity of transitioning to IFRS accounting standards and integrating acquisitions. To support its growth, Swissbit partnered with implementation expert Inulta to deploy the CCH Tagetik platform, including its Financial Close, Consolidation, and Planning modules, aiming to create a single source of truth.

The implementation of CCH Tagetik automated data integration and complex consolidation across Swissbit's 10 group entities. This provided a unified platform that streamlined financial workflows, enabled full IFRS compliance, and automated the restatement of historical data. As a result, Swissbit achieved a 25% faster monthly close cycle and eliminated manual processes, leading to more accurate and timely financial reporting to support better decision-making.

Swissbit AG