Case Study: Pictet

The benefits - in a few words

• A unified solution: the data from the bank accounting applications are imported to Sigma Conso which carries out the statutory consolidation and consolidated monthly analytical reporting.
• Autonomy: the application is quick to learn because the internal business line logic is very clear. The data input interface is simple and very effective and reports can be generated easily and quickly.

About Pictet

The Pictet Group is managed by six partners who are both owners and managers. The principles of shareholder succession and of capital transmission have remained unchanged since the company’s founding in 1805. The Group is exclusively dedicated to wealth and asset management and asset servicing. It does not provide commercial loans or business banking services. With over €431 billion in assets under management or on deposit at 31 December 2016, Pictet is among the leading independent wealth and asset management companies in Europe.

The Group is headquartered in Geneva where it was founded and has over 4000 employees.

The result

Vincent Simon, Head of the accounting department at Pictet, says: “We have a relationship of trust with Sigma Conso. We’ve worked with them for many years and are in contact with a dedicated consultant who knows us and our specific needs very well. This makes the relationship efficient and straightforward.

Sigma Conso Consolidation & Reporting fully meets our needs for:

• Reliability: we obtain our consolidated data quickly each month.
• Flexibility and autonomy: the application is very user-friendly, easy to use and visually appealing. We can quickly include new companies in the scope.
• Performance: the application was created on the web and is very effective.”

The consolidated chart of accounts corresponds to the ERP’s banking chart of accounts making it very easy to update based on changes in the former.

The Sigma Conso application provides some notes to the financial statements and enables internal reporting.

Vincent Simon, head of the accounting department at Pictet, adds:

“The project was scheduled for 24 days and was completed in 23, with well-defined milestones met along the way. Sigma Conso enables us to carry out the consolidation of the Group’s accounts in two and a half days and to generate consolidated monthly reports at D+4.”

Le résultat

Vincent Simon, responsable du service comptabilité chez Pictet, témoigne : “Nous avons une relation de confiance avec Sigma Conso. Nous travaillons depuis de nombreuses années avec eux et sommes en contact avec un consultant dédié, qui nous connaît bien, nous et nos besoins spécifiques. La relation est donc efficace et simple.

Sigma Conso Consolidation & Reporting répond entièrement à nos besoins de :

• Fiabilité : nous obtenons chaque mois des données consolidées rapidement.
• Souplesse et autonomie : l’application est très conviviale, facile à utiliser et visuellement agréable. Nous pouvons intégrer rapidement de nouvelles sociétés dans le périmètre.
• Performance : l’application a été créée sur le web et est très performante. »

Le plan de comptes consolidés correspond au plan de comptes comptables bancaires de l’ERP et il est très simple de le mettre à niveau en fonction des évolutions de ce dernier.

L’application de Sigma Conso fournit quelques notes aux états financiers et permet de réaliser le reporting interne.

Vincent Simon, responsable du service comptabilité chez Pictet, déclare :

« Prévu en 24 jours, le projet a été mené à terme en 23 jours, avec des étapes claires qui ont été respectées. Sigma Conso nous permet de réaliser la consolidation des comptes du Groupe en 2 jours et demi et de fournir un reporting mensuel consolidé à J+4.»