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This document contains confidential info. Only for internal use. Do not disclose or make available to third parties. Triglav Group case study From building blocks to a unified performance management solution Daniel Potočnik, Tagetik Adriatic Tagetik Conference September 19-20, 2013
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4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

Jan 27, 2017

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Page 1: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Triglav Group case study From building blocks to a unified performance management solution Daniel Potočnik, Tagetik Adriatic

Tagetik Conference September 19-20, 2013

Page 2: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Agenda

Company and group overview The approach Key pain points Project overview and scope Project implementation Outcome & benefits Lessons learned Summary Q&A

Page 3: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Company Overview

1

#1 Insurance group in Adriatic region

Page 4: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Company Overview

The Triglav Group is the leading insurance-financial group in Slovenia and one of the leading groups in South-East Europe, where it is gaining ground and expanding its operations. It is present in eight markets and seven countries and employs over 5,470 people. The Group builds its reputation on knowledge, experience, trust and excellent attitude towards its clients, employees, shareholders and other stakeholders. The business of the Group is based on four pillars: • Insurance • asset management • Banking • activities supporting the three core financial pillars

Page 5: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Company Overview

Page 6: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Company Overview – interesting for Tagetik

40 subsidiaries 10 asociated companies Multiple reporting standards Reporting to regulator (ATVP & AZN) Statistical reporting, Captial Requirements...

Page 7: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Key Pain Points

2

Where we started off with Tagetik

Page 8: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Key pain points – multiple processes Consolidation process outdated Reduced reporting time windows Increasing reporting requirements Excel based solution – managability & stability Complex and tough to manage collection process Projects derived from consolidation, operational planning & controlling

Page 9: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Project Overview and Scope

3

From building blocks to a unified solution

Page 10: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Project Overview and Scope

8 projects + many “mini” applications

Consolidation (2010) Operational planning (premiums) (2011) Group controlling (2012) Operational planning (costs) (2012) Triglav Osiguranje – Croatia roll-out (2012)

Financial investments reconcilliation (2012) Solvency II (Pillar II & Pillar III) – in progress (2013/2014) CDM – in progress (2013/2014)

Page 11: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Project Overview and Scope - Consolidation

Quarterly consolidation

Notes to accounts

Eliminations

Page 12: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Project Overview and Scope – Group controlling – Operational planning

Monthly: Actuals + Forecast (cons.) + Plan (cons.) + Strat Plan (cons.)

Eliminations

Page 13: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Unified CPM solution

Common controlling reporting for subsidiaries Rolling forecast Full analytics on financial statements Audit support Valuation of investments Local GAAP support

Page 14: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Roll-out scenario out of the box

All group companies take full advantage of common applications (controlling, solvency, consolidation) Operational processes can be easily adopted to local requirements

Page 15: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Project Implementation

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Page 16: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Tagetik application screenshots - consolidation

Page 17: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Tagetik application screenshots - controlling

Page 18: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Tagetik application screenshots - finance

Page 19: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Outcome and Benefits

5

Page 20: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Outcome and Benefits

Shorter preparation cycles Manageable and traceable data collection process Full audit trail Automatization (example curency conversions) IC Matching -> process pushed down to subsidiaries Drill down and analytics

Page 21: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Lessons Learned and Recommendations

6

Page 22: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Lessons Learned and Recommendations

Management support

Dedicated team

Page 23: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

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Next Steps

7

In the middle of two projects

Page 24: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

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Next Steps

Sucesfull completion of current work in progress (Sovency II & CDM) Ideas for the future

Page 25: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Summary

8

Page 26: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Summary

Triglav Group is #1 insurance company in Adriatic region 8+ projects on Tagetik Focus on individual areas benefits on group level Benefits on all areas of finance & controlling Current focus is Solvency II and CDM New ideas will come naturally

Page 27: 4.ICV kongres controllera 2016 - TAGETIK (Daniel Potočnik)

This document contains confidential info. Only for internal use. Do not disclose or make available to third parties.

Questions & Answers

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