In an economic context marked by increased volatility and unprecedented regulatory pressure, CCH Tagetik is emerging as a catalyst for transformation in the finance function. This cutting-edge solution redefines financial management paradigms by seamlessly integrating the latest international standards and offering a unified platform for orchestrating complex financial processes.
What is CCH Tagetik ?
CCH Tagetik is a Corporate Performance Management (CPM) software solution developed by Wolters Kluwer, a world leader in business information and software solutions. Designed to meet the complex needs of the finance departments of medium-sized and large companies, CCH Tagetik offers a unified platform covering the entire financial management cycle. This cloud-native solution integrates advanced functionalities for financial consolidation, budget planning, forecasting, regulatory reporting and cost management. What sets CCH Tagetik apart is its ability to combine in-depth financial expertise with cutting-edge technologies, delivering a solution that not only automates financial processes but also adds strategic value to organizations. By continually adapting to regulatory and technological developments, CCH Tagetik has established itself as an essential tool for CFOs and finance teams seeking to navigate the increasingly complex global financial landscape.
Holistic integration of IFRS standards : A performance driver
CCH Tagetik stands out for its innovative approach to IFRS integration :
-
Native IFRS calculation engine
Unlike traditional solutions that overlay IFRS calculations, CCH Tagetik integrates an IFRS calculation engine at its core, ensuring intrinsic compliance and significantly reducing the risk of errors.
-
Data granularity
The platform enables data to be managed at transactional level, providing unrivalled transparency for IFRS adjustments and facilitating reconciliations between local and international standards.
-
Dynamic adaptability
As IFRS standards are constantly evolving, CCH Tagetik offers a real-time update system, minimizing time-to-compliance for new regulations.
Pillar 2 : A systemic approach to international taxation
The integration of Pillar 2 into CCH Tagetik represents a major step forward for multinational groups :
-
Multidimensional calculation of GloBE (Global anti-Base Erosion)
The platform offers a sophisticated calculation engine that takes into account multiple jurisdictions, different tax regimes and specific Pillar 2 adjustments.
-
Simulation and tax optimization
Advanced modeling tools enable companies to simulate different tax scenarios and optimize their global structure in line with the new rules.
-
Integration with ERP systems
CCH Tagetik interfaces with the market’s leading ERP systems, ensuring smooth, comprehensive tax data collection across the group.
CSRD : Strategic integration of non-financial reporting
Faced with the advent of the Corporate Sustainability Reporting Directive (CSRD), CCH Tagetik offers an innovative approach :
-
Integrated ESG taxonomy
The platform incorporates the latest ESG taxonomies, enabling automatic categorization of activities according to their environmental and social impact.
-
Dual materiality
CCH Tagetik enables a two-way analysis, assessing both the company’s impact on the environment and the impact of ESG factors on financial performance.
-
Full audit trail
An end-to-end traceability system ensures the verifiability of ESG data, meeting the growing demands of auditors and regulators.
Unifying financial processes : From data to decisions
CCH Tagetik goes beyond simple reporting to offer a complete decision-making platform :
-
Financial data lake
The solution centralizes all financial and non-financial data in a unified data lake, enabling multi-dimensional analysis and instant drill-downs.
-
Intelligent workflows
Automated processes, guided by AI, orchestrate data collection, validation and analysis, dramatically reducing closing cycles.
-
Analytical insights
Machine learning algorithms proactively identify trends, anomalies and optimization opportunities, transforming the CFO’s role from numbers keeper to financial strategist.
AI as a driver of financial innovation
The integration of artificial intelligence into CCH Tagetik opens up new perspectives:
-
NLP for narrative analysis
Natural language processing algorithms analyze comments and footnotes, enriching quantitative analysis with qualitative insights.
-
Predictive forecasting
Deep learning models integrate macro-economic variables and internal data to generate financial forecasts of unparalleled accuracy.
-
Real-time anomaly detection
Continuous monitoring systems, based on machine learning, instantly identify deviations from historical or industry norms.
Conclusion
CCH Tagetik doesn’t just meet today’s regulatory requirements; it anticipates the evolution of the finance function. By merging compliance, advanced analytics and artificial intelligence, the platform lays the foundations for “augmented finance”, where technology amplifies rather than replaces human expertise.
In an environment of increasing regulatory complexity and market volatility, CCH Tagetik is an essential strategic ally. It enables organizations not only to navigate the complexities of IFRS, Pillar 2 and CSRD, but also to transform these constraints into opportunities for optimization and financial innovation.
By adopting CCH Tagetik, companies not only achieve compliance, they also gain a sustainable competitive advantage, transforming their finance function into a true center of strategic value creation. In the era of data-driven finance, CCH Tagetik is emerging as the beacon that guides organizations towards smarter, more agile and forward-looking financial management.
By choosing BHI as your partner to deploy CCH Tagetik, you’re not just acquiring software, you’re investing in a complete transformation of your finance function. Our customers are already reporting significant improvements in operational efficiency, forecasting accuracy and strategic decision-making.
Don’t wait any longer to revolutionize your financial management. Contact BHI today to find out how CCH Tagetik can propel your business to new heights of financial performance. Let’s work together to prepare your organization for tomorrow’s financial challenges.
