Tagetik 4.0 manages complex statutory and management consolidation processes and Intercompany matching in a structured and controlled environment that is unified with planning and budgeting processes to ensure a strategic approach. Moreover, the software guarantees consistency across statutory and management reporting and unification of the closing process for each single entity with the group consolidation process.

Tagetik 4.0, thus, improves visibility and transparency, shortens closing and reporting cycles, supports requirements of regulatory changes and manages multiple accounting standards (IFRS, local GAAP, ...) reducing Total Cost of Ownership (TCO).

To support the Financial Consolidation process Tagetik 4.0 delivers:

• Chart of accounts and rules: define control groups between main accounts and the related details/variations to be displayed in reports

• Legal entities & hierarchies: define legal entities/reporting units and possibility to set unlimited hierarchies

• Legal structure: event-based management of the evolution of the legal structure (% of ownership, financial investments variations, net equity variation), managing multiple scenarios (holding and sub-holding levels) and consolidation rules.
• Automatic/manual data collection: gather data (original gross amounts, IC declarations, pre-consolidation adjustments, …) through automatic interfaces from multiple General Ledger solutions using Tagetik 4.0 ETL built-in process. Manual data entry forms are available also via web with browser or Excel interface with the possibility to monitor the approvals workflow for each phase.
• Decentralized web IC matching process: define groups of accounts for IC matching with relative reconciliation accounts, thresholds and graphical web dashboard for matching between entities
• Data processing: automatic processing of the main consolidation adjustments (IC eliminations, dividends, participations, equity, minority calculation and deferred taxes calculation) with monitoring of the whole process  
  
• Currency conversion: processing of currency conversions in the consolidation currency and calculation of the exchange rate difference
• Accounting principles: support of simultaneous generation of multiple consolidations, such as U.S. accounting standards (GAAP) and International Financial Reporting Standards (IAS/IFRS)
• Full auditability: automatic data processing and powerful control audits to ensure complete data traceability
• Diagnostic checks: to guarantee data consistency during data entry and consolidation processes
• Powerful reporting: manage all financial reporting requirements such as logic for credit/debit signs, creating cash flow statements, total and subtotal calculation, visualization of periodic data (monthly, quarterly, …) and the possibility to generate reports with drill-down capabilities to display further information on original data
• Segment reporting: dynamic on the fly aggregation of data according to the different segment structures defined, very powerful for simulation and ad-hoc analysis (Business Unit, geographic area, …)

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