CCH Tagetik
The Right Software
In order to make the right decisions, a company needs high-quality information as a basis. The larger a company is and the faster it grows, the more challenging it is to have the relevant data available for decision-makers in a timely manner. To meet the growing demands on controlling and accounting, we recommend CCH Tagetik as a software package for Corporate Performance Management. CCH Tagetik is a fully featured CPM solution that can comprehensively map the financial processes from operational budgeting to the preparation of the annual report. CCH Tagetik has an open system architecture and can be easily integrated into existing software landscapes. CCH Tagetik is flexible and scalable and grows with the company and its requirements. Thus, CCH Tagetik offers you a future-proof, integrated solution for your planning, controlling and reporting processes in the Office of Finance. CCH Tagetik represents the single point of truth for the finance department, from which you can access your success-critical information at any time.
Planning and Budgeting with Tagetik
With CCH Tagetik, operational planning and financial planning are brought together in one place. Due to the system architecture, all participants can access the planning tools at any time and from any location via the browser. Every piece of data entered is fully traceable. In addition, the established Excel add-in ensures that your employees quickly find their way around the software.
Whatever the planning process – quarterly or annual, line item or P&L, top-down or bottom-up – CCH Tagetik includes budgeting, modelling, forecasting and reporting capabilities that can be used to accurately plan and optimise the performance of the business. Periodic and rolling forecasts enable the creation of forecasts during the financial year by enriching plan data with actual performance data. What-if analyses are available in CCH Tagetik to simulate how deviating market conditions may affect the company. In addition, the effects of scenario planning on the balance sheet, P&L and cash flow can be presented in an integrated and comprehensible way. CCH Tagetik can not only be used for classic planning approaches, but it also provides excellent support for modern budgeting methods, such as driver-based planning. For example, expected price developments can be entered into the business plan as percentage changes, thus sales and costs can be indirectly overestimated.
Consolidation with CCH Tagetik
The implementation of CCH Tagetik enables a highly automated, fast and error-free group consolidation. In the consolidation module of CCH Tagetik, even complex ownership structures with numerous hierarchical levels and holding structures can be mapped out. The Intercompany cockpit enables the intra-group reconciliation of transactions between different groups and locations. Account groups and transactions can be easily and clearly created, tracked and reconciled. Of course, parallel consolidation according to different accounting standards (local GAAPs and IFRS) is possible. Control systems such as balance and validity checks run at every step. As every single movement is logged, possible input errors can be quickly identified and eliminated.
Analytic Information Hub
Large amounts of data are generated in a company every day. It is often the key to identifying optimisation potential and can lead to a better understanding of the market and customers. In order to be able to use the vast amounts of data in a meaningful way, CCH Tagetik creates a data ecosystem in the Analytic Information Hub, where the data from different upstream systems is collected and validated. With granular data, this enables detailed actual reporting that can draw on transaction data and goes beyond classic key financial figures. In addition, the high-quality database can serve as the basis for AI, machine learning and predictive analytics. When aggregated data is transferred to the Financial Hub, this can also provide drill-down capabilities down to the last detail. The extensions to the Tagetik Dimensions and data models offered by the Analytical Information Hub mean that there are no limits to the mapping of company-specific planning requirements. CSplus will happily support you in evaluating the possible applications of the new module. We have dealt extensively with the Analytical Information Hub (AIH) and are among the most experienced specialists in its technical implementation.
CCH Tagetik CDM for Business Reporting
CCH Tagetik CDM (Collaborative Document Management) significantly improves the process of creating annual reports. Through the integration of Microsoft Office, an add-in for Word and Power Point is available to the report creators. All reports are generated from a single data source and can be dynamically updated on an ongoing basis. Several staff members can work on a document at the same time. An audit trail provides a complete activity log to ensure traceability. Since all data comes from the same validated database, discrepancies in different reports or parts of them are a thing of the past. Uniform logics, calculation rules and data bases as well as dynamic updating guarantee a “single version of the truth”.
Compliance Solutions in CCH Tagetik
In addition, compliance specifications are also available as ready-made CCH Tagetik modules. Whether Solvency, IFRS 16, IFRS 9, COREP/FINREP or Basel III – the templates in CCH Tagetik make calculation, data validation and reporting much easier and provide timely software updates when external standards change. Preconfigured reports save time, reduce sources of error and simplify regulatory compliance. Audit trails and drill-downs support report generation and ensure traceability of data and information back to the source.
ESG with CCH Tagetik
CCH Tagetik provides advanced ESG reporting capabilities that help organizations measure, manage, and improve their Environmental, Social, and Governance (ESG) initiatives. CCH Tagetik’s reporting capabilities enable companies to promote more sustainable practices, improve transparency and accountability, and meet evolving regulatory and stakeholder expectations. The Intercompany cockpit enables the intra-group reconciliation of transactions between different groups and locations. Account groups and transactions can be easily and clearly created, tracked and reconciled. Of course, parallel consolidation according to different accounting standards (local GAAPs and IFRS) is possible. Control systems such as balance and validity checks run at every step. As every single movement is logged, possible input errors can be quickly identified and eliminated.
The CCH Tagetik Cloud
In addition to the traditional on-premise solution, CCH Tagetik is increasingly focusing on the cloud and offers customers all the associated benefits. The cloud solution allows almost unlimited scalability and provides automated updates. As CCH Tagetik provides the cloud services via a service level agreement, the use and implementation of the software is independent of in-house IT resources and the IT department. The Finance Office has control over the system and data.
Needless to say, CCH Tagetik designs the cloud services to be as secure and reliable as possible. Statistics demonstrate the high standards with the system uptime provided. The uptime is 99.5% and 96% of customers have 100% system availability. Availability is monitored by CCH Tagetik 24 hours a day, 365 days a year. This guarantees maximum availability of the Corporate Performance Management system.
Questions & Answers about Tagetik
CCH Tagetik is an ideal extension to existing IT systems. The software integrates exceptionally with Microsoft programmes such as Office or Power BI and adapts easily to an SAP system landscape as well as other ERP systems. Investments already made in the IT infrastructure thus continue to pay off. The existing software is optimally complemented by Tagetik and becomes altogether more powerful.
The same applies to the interaction with Qlik, as visualisations of reports and dashboards are made possible directly via CCH Tagetik. Microsoft SQL Server, SAP HANA or Oracle can also be used as the database.
The ETL module integrated in CCH Tagetik enables access to a wide range of data sources. Prefabricated connectors to the ERP systems of SAP and Microsoft are also available.
Yes, superbly! CCH Tagetik is certified for SAP HANA. The two software manufacturers SAP and CCH Tagetik have developed the integrated solution as partners and offer it jointly. The close cooperation between CCH Tagetik and SAP ensures both long-term support and sustainable further development. This means that you will be able to capture and analyse your data faster and more comprehensively on the all-in-one platform in the future.
CCH Tagetik on SAP HANA provides real-time access to data that originates from the enterprise. In addition, the in-memory architecture reduces the latency when accessing the data. As a result, performance improvements of up to 100% can be achieved in planning, consolidation and reporting.
CSplus supports financial planning and consolidation projects on SAP HANA. If you would like to find out more about CCH Tagetik on SAP HANA, please contact us!
Yes! At the Tagetik inTouch! At the annual 3-day conference, Tagetik customers and interested parties can learn more about the application areas of the software, find out about new developments and get in touch directly with the people behind Tagetik – from developers to senior management. Top-class guest speakers will open up new perspectives and, of course, CSplus will also be present at the conference as a Tagetik partner. Besides, the conference and the supporting programme offer excellent opportunities to exchange ideas with like-minded people and to expand one’s own network.
The Tagetik Community is a collaboration website for Tagetik employees, partners and customers. Anyone connected to CCH Tagetik can register and use the resources and experience of the community to contribute to the exchange of knowledge. The Tagetik Community Q&As, product videos and user manuals are especially helpful for CCH Tagetik newcomers as well as for experienced users.
With CCH Tagetik iXBRL (powered by CoreFiling), an automated machine learning engine directly accesses the CCH Tagetik data, from which all reports are generated and automatically completes the iXBRL filings. Tags can be reused, and result validation is possible without data export and manual intervention.
Data changes in CCH Tagetik can be updated for iXBRL at the push of a button. Should ESMA make changes to the taxonomy, an update for CCH Tagetik iXBRL will be provided promptly so that iXBRL reports are always up to date. The machine learning solution comes from the industry leader – over 30 million iXBRL documents have already been submitted error-free.
