Case Study: UniCredit Group streamlines consolidation and reporting with Wolters Kluwer ELM Solutions

UniCredit Group - Customer Case Study

UniCredit Group, a major international financial institution, faced challenges in managing its rapid expansion across Europe. The company grappled with disparate reporting systems, lengthy financial closing cycles, and a need for regulatory compliance, all of which were complicated by acquisitions. To gain a unified view of its performance, the company sought a single corporate performance management (CPM) solution to handle consolidation, reporting, planning, and dashboards across the entire group.

Wolters Kluwer ELM Solutions, through its Tagetik CPM software, implemented a comprehensive, multi-phase solution over several years. This included statutory and management consolidation, budgeting, and dashboard reporting, all built on a standardized group chart of accounts. The results were significant: UniCredit Group reduced its financial close process from 35 to 20 days and achieved a 10% reduction in overall costs within the first year, with a goal of 20%. The solution provided by Wolters Kluwer ELM Solutions became the group's standard worldwide, supporting over 3,000 users and 500 consolidated companies.

UniCredit Group