Case Study: Banco Toyota do Brasil achieves faster, more accurate financial planning with Wolters Kluwer CCH Tagetik

Banco Toyota do Brasil - Customer Case Study

Banco Toyota do Brasil, a subsidiary of Toyota Financial Services, faced significant challenges with its planning and forecasting processes. The company was stuck in "Excel hell," manually managing up to 40 complex spreadsheets, which lacked accuracy and visibility. They needed a solution to perform detailed financial projections for over 50 products and could not effectively plan for earning assets, debt, or expenses. They selected CCH Tagetik from Wolters Kluwer ELM Solutions to address these issues.

Wolters Kluwer implemented CCH Tagetik to automate the financial planning, which provided Banco Toyota do Brasil with a unified solution. The results were transformative, including a 30% reduction in budgeting time, a maximum budget variance of just 5% (down from 10%), and the ability to run portfolio projections in just five minutes. The software automated calculations for assets, liabilities, interest revenue, payroll, and IT project depreciation, ending their reliance on inefficient spreadsheets and greatly improving forecast accuracy.

Banco Toyota do Brasil

Rafael Yoshihara

Financial Planning Coordinator