The role of the CFO has dramatically changed in response to the major accounting scandals at the beginning of the millennium and the ensuing sets of new rules and regulations. In order to prevent financial discrepancies and criminal practices in the corporate environment, CFOs face mounting internal and external pressure to make their reporting more transparent and their numbers more reliable.

Translated into day-to-day operations, that means simplifying processes, accelerating reporting cycles and supporting decisions through accurate data. The CFO must be able to:

• Streamline key business information
• Ensure timely, accurate reporting processes
• Warrant regulatory compliance
• Deploy corporate governance and internal control mechanisms

Corporate Performance Management has played a key part in addressing these new challenges and changing requirements. In addition to transforming strategic plans into operational activities and budgets, these solutions help optimize the underlying infrastructure by setting policies and guidelines as well as unifying financial processes and applications that share common pool of data.

Unification of all CPM Processes

The advantages of unified Corporate Performance Management solutions include:

• Easy integration into existing IT architectures
• Single technological infrastructure and CPM database
• More efficient in process management
• Data consistency and reliability
• Improved visibility and transparency
• Higher self-sufficiency for the business professionals using these systems
• Lower Total Cost of Ownership (TCO)
• Only a unified solution can truly coordinate planning, budgeting, consolidation, reporting and other core processes as a whole and help companies execute their strategy in day-to-day operations and actively manage business performance in real time.

Why Tagetik CPM?

Tagetik CPM is the first completely financial closed-loop, double entry CPM solution that unifies in a single product all CPM and Financial Governance processes.

CPM Processes:

• Core CPM processes: budgeting, planning & forecasting, profitability modeling & optimization, dashboard & scorecard applications, financial consolidation, financial, statutory & management reporting

• Extended CPM processes: credit reporting & analysis, ICT performance management

• Vertical CPM processes: regulatory accounting for telco industry, regulatory accounting for energy industry, cash flow management by project for construction & engineering industry and regulatory reporting for financial institutions industry

Financial Governance Processes: Financial consolidation, Intercompany transaction management, Reconciliations Management, Financial controls and compliance, Financial close and reconciliation management, Access and segregation of duties controls, Financial analytics