GAM takes another step as a collaborative and innovative company through the automation of Consolidation, Internal Monthly Reporting, and Annual Accounts.
This new tool brings greater efficiency and speed to processes, as well as ensuring data quality.
A Data-Driven, Innovative, and Collaborative Company
GAM has taken another step in its journey towards becoming a Data-Driven, innovative, and collaborative company through its Financial area. Thanks to the collaboration with CCH Tagetik, the tool has been implemented to automate the company's Financial Statements, from data collection to final report preparation.
This project, part of the Digitalization Plan – GAM Digital – led by the Strategy and Transformation area, is a demonstration of the importance of process updating within the company. This will not only allow for faster, more efficient, and integrated data and results with existing systems but will also ensure the quality of the information, essential for a listed company.
BDO and PMP form an excellent tandem, providing a powerful technological solution and functional and implementation knowledge, thus being able to address the information challenges we face.
Through this tool, the entire process is digitized and automated: Consolidation, Internal Reporting, preparation of Annual Accounts, and publication in iXBRL.
Main benefits and results of the implementation:- Integration with SAP as the source of information, for agile and traceable data loading.
- Management of different accounting standards (IFRS and local GAAP)
- Agility in reconciling balances and transactions between group companies.
- Greater automation and flexibility of the process.
- Improvement in auditability and traceability of data.
- Data quality through controls and diagnostic tests.
- Versatility in data analysis, to respond to a dynamic environment.
- Reduction in processing and information review times: maximizing efficiency.
- Generation of the ixbrl file for reporting to the CNMV.
Webinar “Learn how GAM improved its Consolidation process and automated the preparation of its Financial Statements with CCH Tagetik” on November 24th
The company PMP has selected GAM as a success case due to this project, part of GAM Digital, and will provide the opportunity to present this initiative through two of our Financial area colleagues: Mercedes Seoane, Internal Audit Manager and Nerea Pérez, M&A and Integration Manager.
You can join here.
Learn more about the GAM Digital project in this news.
