Canada 's largest cooperative financial group chooses Cartesis for enhanced performance management   18th June 2007 Desjardins Group has selected the Cartesis 10 suite for financial consolidation and performance management. Desjardins Group, counts 5 million member-owners, gathering 549 caisses and about twenty specialized subsidiary companies including insurance, securities brokerage, asset management, and venture capital. With total assets amounting to 135.1 billion Canadian dollars the group employs 40,000 people. Desjardins must adhere to very strict regulations and deliver accurate and reliable data to an increasing number of internal and external users within a minimum time frame. Furthermore, the increased complexity of financial reporting and the convergence to IFRS requires consolidation systems to be strong, flexible and have powerful information sharing capacities. Desjardins major goal was to implement a new system of consolidation and integrated performance management for the financial group while enhancing effectiveness, efficiency and integration of processes, adhering to the demands of accounting standards as well as new Canadian and international governance rules. “Desjardins has firmly established itself as an integrated cooperative financial group,” says Monique Leroux, Chief Financial Officer of Desjardins Group. ”The flexibility of Cartesis 10 will allow Desjardins to improve the speed and efficiency of its consolidation processes. The implementation of Cartesis 10 will enable Desjardins to reallocate finance resources away from lower-value activities toward higher-value decision-support activities.” Cartesis says that Cartesis 10, is a turnkey solution delivering the three key components of an integrated performance management application: financial consolidation, dashboards and analysis, and financial planning; that will enables Desjardins to comply with international rules while it accelerates the convergence of its accounting standards. The ability to deliver all this financial information to a greater number of users will result in better alignment of operations with strategic goals, adds Cartesis.
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