Case Study: Timex Group streamlines global financial reporting with Wolters Kluwer CCH Tagetik

Timex Group - Customer Case Study

The Timex Group, a major global watch manufacturer, faced significant challenges with its outdated Hyperion Enterprise financial system. This system lacked the flexibility to handle the company's complex reporting needs, forcing its finance team to manually produce and maintain over 5,000 reports. To modernize its financial processes for corporate finance, consolidations, and budgeting, Timex sought a single solution that could integrate with its various global source systems and provide meaningful data views.

Wolters Kluwer implemented its CCH Tagetik platform to serve as Timex’s central global financial system. This solution drastically streamlined reporting, allowing data previously spread across 30 reports to be viewed in a single document. As a result, Wolters Kluwer helped Timex reduce its regularly generated reports from approximately 5,000 to 500, slashing report maintenance time by an estimated 60% and providing a single, reliable source of financial truth for senior executives.

Timex Group

Shelly Krpata

Senior Manager of Financial Reporting and Consolidation