Making financial reporting count: Implementing Tagetik at the Oilinvest group

Excellent financial reporting enables Oilinvest to make better strategic decisions and operate with more impact. We’re talking to Mr. Ilja Ansink, senior account projects at Oilinvest in The Hague, about the Group’s reporting system and collaborating with subsidiary companies.

Mr. Ansink: “In my role of senior accountant projects, I’m responsible for implementing a unified financial reporting system. It’s more important than ever to work closely with our subsidiaries – they have a vast amount of knowledge and experience. With this reporting system, Tagetik, we’re using that knowledge in our decision making, on a strategic level.”

The system has been implemented in two steps. The first step was using Tagetik for all legal reporting. The second step was using it to generate in-depth management information.”

The Tagetik software was selected with great care, explains Mr. Ansink. “We selected Tagetik from a number of competing systems. What mattered to us was that it offered a real user friendly, modern way to work with financial data.” He adds, jokingly: “And it has the Excel look and feel, which controllers love!”

Mr. Ansink: “The biggest challenge in this project was creating a system that truly helps our subsidiaries, making their job easier and more efficient. It helps that Tagetik is user friendly, you don’t have to be an SAP expert. Together with Niels, from our implementation partner Finext, I visited every office to introduce Tagetik and found out the needs of our subsidiaries.”

Each subsidiary has a customised interface between their local accounting system and Tagetik. This lets controllers report data in their own preferred way. Mr. Ansink: “Once the data is in Tagetik, we at headquarters can query all the data and generate in-depth reports. There’s a great flexibility there, without having to ask subsidiaries for every little detail!”