Organizations around the world are forced to comply with an increasing number of compliance regulations such as Sarbanes-Oxley, 10K 10Q, Basel II, IAS/IFRS and others. This has become a complex, ever-shifting challenge. It involves implementation of the right technology solution and the coherent application of policies, procedures and processes.

Their financial analysis, planning and reporting systems must present data from multiple sources in a consistent and unified view and in compliance with mandates set by multiple regulating authorities and government bodies.

To ensure compliance Tagetik CPM supports financial departments through the following functionality:

• Unified vision: Tagetik CPM helps finance professionals comply with regulatory requirements as part of their regular activities to monitor and manage business performance. This solution unifies all CPM and Financial Governance processes in one product to promote a single version of the truth and fulfil today’s strict demands on governance.

• Automatic report creation: Tagetik CPM automatically generates new periodic reports based on the latest information, while keeping track of past reports as well. Finance professionals simply need to specify which information they want to display in each section of the entire document.

• Collaborative workflow: Through Tagetik’s sophisticated workflow tools, different users can take responsibility for completing the various sections of regulatory reporting. The workflow, which marks the status of each item to show which steps are complete or overdue, also includes an internal e-mail system to support and document all related communication.

• Data integration: The data serving as the base for the regulatory reporting is often located in multiple systems in various locations throughout the company. Tagetik CPM comes with a built-in Extraction, Transformation and Loading (ETL) engine to effectively collect the necessary financial and operational information to complete the filings.

• Ease of use: Although spreadsheets are not suitable tools for managing financial information in the 21 century, most financial professionals are familiar with their functions and usability. Tagetik CPM ensures fast learning cycles and high user acceptance by embedding the layout and formatting capabilities of Microsoft Office tools into a secure, efficient solution that meets today’s strict governance requirements.

• Transparent numbers: Authorized users can track the history of any number in Tagetik CPM to get a detailed overview of how this value has originated.

• Powerful audit trail for data entry and changes: Tagetik CPM creates snapshots of specific situations to clarify which figures have changed from one version to another as well as who has made these changes and why.

• Open, multiplatform & web-based technology: IT departments profit from Tagetik CPM’s open architecture, which maximizes the return on a company’s existing technology investments. This solution, which runs on all mainstream databases as well as multiple platforms, provides direct interfaces with leading ERP systems. The web-based solution is easy to use so that all financial professionals can play an active role in driving business performance.
  

Discover how Tagetik CPM can support the ever increasing burden of compliance requirements:

• 10Q 10K (US)
• Law 262/05 (Italy)
• IAS/IFRS
  
• SOX – Basel II