Case Study: Vorwerk achieves unified consolidation and faster intercompany reconciliations with CCH Tagetik

Vorwerk - Customer Case Study

Vorwerk, a 130-year-old, family-owned global manufacturing group operating in 70 countries with seven divisions, an affiliate (Hectas) and 120 consolidated companies, faced a fragmented finance landscape of isolated, aging systems used by ~200 finance users. The company needed a highly flexible, single solution to coordinate eight independently operating divisions, streamline budgeting, statutory and management consolidation, intercompany reconciliation, and support fast, highly available reporting without reliance on third-party administration.

Vorwerk selected Tagetik (implemented with pmOne) to unify statutory and management consolidation, introduce an intercompany cockpit for real-time reconciliations, and deploy cMORE analytics and standardized dashboards accessible on mobile. The rollout created common financial structures, enabled online corrections and workflow management, accelerated reporting and close processes, delivered significant time savings on intercompany matching, improved collaboration between controlling and accounting, and expanded control to IT, HR and purchasing.

Vorwerk

Karsten Köhncke

Vice President Corporate Controlling