Financial Consolidation & Close

You deserve four weekends a month, not three



At Tagetik, we know that the financial close process is complex, time consuming and laden with risk. That’s why our unified corporate performance management solution provides robust automation, process-driven workflow, stringent controls and detailed audit logs to modernize legacy approaches to financial consolidation.


With Tagetik, we manage the complexity so you can accelerate the close and reporting process across all business entities.

Consolidation Software Close Software
Close cycle

150

hours eliminated
Limited

5-10%

total manual entry
Finance staff

50%

Reduction in new FTE

3-min video demos


Want a quick look?

Watch these video demos on Consolidation & Close and Intercompany Matching & Reconciliation

Consolidation & Close Demo Consolidation & Close Demo
Tagetik manages complex financial, statutory and management consolidation processes in a single structured and controlled environment that assures consistency across financial, statutory and management reporting.

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2 min Demo: Intercompany Matching & Reconciliation 2 min Demo: Intercompany Matching & Reconciliation
Watch this video to learn how Tagetik's IC Cockpit provides a quicker and more accurate consolidation and close process by providing users across your accounting organization with an intelligent dashboard displaying the intercompany relationships and their impact on your consolidated financials.

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Benefits

Benefits


Reduce the cost and effort

Reduce the cost and effort of your monthly and quarterly closing and reporting

Increase confidence

Increase confidence and eliminate inconsistencies with a single source of the financial truth

Cut days off the monthly close process

Cut days off the monthly close process by eliminating bottlenecks and delays

Minimize errors

Minimize manual errors with automated controls, validation, and error checking

Full traceability

Full visibility, traceability and accountability from start to finish

Built-in financial intelligence workflow

A built-in financial intelligence workflow manages even the most complex close processes across decentralized business units

Financial Consolidation and Financial Close key capabilities include

Chart of accounts and rules
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Define control groups between main accounts and related details or variations to be displayed in reports.

Legal entities and hierarchies
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Define legal entities and reporting units, and set unlimited hierarchies to support complex ownership requirements.

Legal structure
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Conduct event-based management, by period, of the history of your legal structure, such as by percentage of ownership, financial investment variations, or net equity variation and then manage multiple scenarios (holding and sub-holding levels) and consolidation rules.

Currency and Conversion
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Tagetik supports unlimited currencies and exchange rates. The moment you enter or load data, you can instantly see currency and exchange rate differences and the associated impact on consolidated actuals in plans, forecasts, models and reports. 

Accounting principles
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In Tagetik, you can generate multiple, simultaneous consolidations for U.S. generally accepted accounting principles (GAAP), XBRL, and International Financial Reporting Standards (IAS/IFRS). All data is gleaned from a single source without having to run multiple consolidations and fully traceable for complete transparency.

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Intercompany (IC) matching and eliminations
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Tagetik speeds up and automates intercompany reconciliation. Simply right click to add new entries or access the Intercompany cockpit to define groups of accounts for IC matching or eliminations. You can track the status of these transactions through the IC Reconciliation Cockpit. 

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Controls and Diagnostics
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In each step of CPM - from data entry, to adjustments, consolidation and reporting - is governed using automated financial controls, validations checks, and balance. Tagetik gives you completely control over financial processes and captures the history of each data point in audit logs.

Financial reporting
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In Tagetik, you can manage all financial reporting requirements. How? Tagetik provides you with pre-built logic for credit/debit signs, double-entry logic for creating cash flow statements, automated rounding and scaling, and drill-down capabilities for faster, more accurate reporting and more thorough analysis.

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Advanced technology
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Tagetik’s unified corporate performance management software offering provides a modern and comprehensive solution that includes packaged financial intelligence, in-memory data processing, robust analytics and integration to other systems, databases, programs and applications such as SAP, Microsoft and Qlik.

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Tagetik's Consolidation and Close Software is trusted by leading companies across all industries


Unicredit Group

Consolidation, Budgeting, Disclosure Management, Reporting & Analysis

Read the case study

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Generali Group

IFRS Consolidation, MVBS, BPF, IVASS, Solvency II, Technical Provision

Aggreko

Consolidation, Closing, Reporting, KPIs, Analytics reporting, Budgeting & Planning

Watch the video

Timex

Worldwide Consolidation & Reporting

Medline

Financial Consolidation, Reporting

Watch the video

Talanx

Solvency II, Disclosure Management, Consolidation, Reporting and Analysis

Watch the Video

Talking Tagetik: Customer Insights

Learn why our customers recommend Tagetik for Financial Consolidation & Close


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Testimonials

Customer Quotes

On Demand Webinar

MOVING THE CLOCK FORWARD: HOW TIMEX ADVANCED THE FINANCIAL CONSOLIDATION AND REPORTING PROCESS TO MATCH ITS CONTINUALLY CHANGING NEEDS

In this webinar Shelly Krpata, Timex’s Senior Manager of  Financial Reporting and Consolidation, and Maria Longo, Solutions Specialist at Tagetik, take you through the journey Timex took, the challenges they faced, and how they benefited by  switching to a scalable solution that transformed their close and reporting process.

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