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Coffee Chat Episode 5 - CCH Tagetik Smart NOW

Coffee break conversation with Anthony Marzetti, VP, Product Management on accelerating your planning during this turbulent times with CCH Tagetik Smart NOW.


Welcome everybody to Coffee Chat for Financial Professionals.

I'm Rohan Persaud and I'm the Country Manager here for CCH Tagetik ANZ.

Grab a cup of coffee, grab a tea, and come join me as I interview industry experts as they share their ideas or opinions and thoughts on what's happening in the market today.

Today, I have a special guest, Mr.

Anthony Marzetti, who's the Vice President of Product Management here in CCH Tagetik.

He's based in a beautiful Lucca, in Tuscany and thank you very much, Anthony joining us today.

Hi, thanks and it's pleasure to be here, so thank you.

Great stuff.

So Anthony, you talked to many customers around the world on a regular basis so what are the burning challenges that the Office of Finance have that you're seeing in the market today? Normally I would answer that question saying it's all about modernization the office of Finance, dealing with more data, trying to be more strategic, and partnering with the the CEO.

Those things are all still true.

But we see in the current crises situation is that there's a new emerging kind of pressure on Finance teams and that is trying to figure out how to deal with the volatility, uncertainty that we see in terms of market conditions today.

So Finance teams are really being pressed to really enhance their planning and forecasting capabilities so they can understand as an organization on how they can react to to the COVID-19 crises.

There's a lot going on so how's the CFO will handle this? I mean he's got his team organized during this troubling times but what do they do? It's definitely a challenge for them because you know you moved from where you would have normally an annual planning process or maybe a quarterly forecast for a monthly forecast for people that are really kind of doing things on a regular basis and and then we need to get to something where they're planning and replanning on a weekly and sometime daily basis is as things change and so the challenge for organizations is a lot of them don't have the systems to be able to do that.

You see that they're going to be relying on Excel and those type of things to be to be able to do planning.

This is the challenge that we're trying to help organizations face in terms of giving those the most planning capabilities as quickly as possible.

Well you mentioned the planning capabilities and giving the CFO and his team, and the controller something to help them through you know that the planning stages and budgeting stages and CCH Tagetik just announced a new series of offering.

Very innovative.

Do you want to share little bit more about that? Yes, absolutely.

Very exciting.

In response to this current situation, what we have done is to launch the new initiative called Smart NOW and Smart NOW actually includes 5 plug-in play apps that can be used on the CCH Tagetik Cloud that are designed for planning.

So these apps cover a range of five planning processes.

So we have apps for Cash Flow Management, Risk Adjusted Adjusted Planning, Driver-Based Planning, Capital Expenditure Planning, and Workforce Planning.

And all of these are designed to be used on demand.

So customer says says okay yeah I really need this additional functionality to plan and they can spend that up on the cloud or immediate basis without need of going through an implementation process to be able to have these planning capabilities.

so this is the way that we are trying to get a modern tool like to CCH Tagetik into the hands of finance teams that need to be able to do planning faster and needs to be able to do it NOW.

That's incredible and I know there will be a lot of these to discuss during our User Conference in just a few weeks time but you and your team aren't just focus on that.

There's a lot of stuff coming down the pipeline, you know the road map, I've had conversations with customers here in Australia that are quite excited.

Can you share what you can with the viewers? Yeah, absolutely.

So as you said, we got really an ambitious roadmap this year, it's very exciting.

We have a number of product releases that we will be doing throughout the course of the years.

Probably, the first one that's coming now together with Tagetik in Touch and the summer release is that we are releasing the new module for Account Reconciliation.

So this is something that really enables us to round out our overall Financial close and consolidation and disclosure opposition to the customers that the now we really can can cover from A to Z the entire close process.

So from the beginning stages with your Fast close an account reconciliation all the way up in the consolidation and then eventually just disclosure management.

So something that we're very excited about.

In addition to the Account Reconciliation, another big extra product launch that we will feature that we're working on this year to come out in the fall, is our new smart insight reporting module.

So Smart Insights is something that really brings the significant enhancements to the existing CCH Tagetik reporting capabilities.

In that, we're allowing the users to be able to take to get CCH Tagetik reports and really customize them on the fly so they can pivot those reports, add new rows, a few columns, formulas, etc and this is really designed to empower users that need to do that type of ad hoc reporting that often gets requested from financing.

So that's really exciting as well.

And I think a little bit longer term towards the end end of the year, we look to be able to release our new module for Predictive Analytics.

So what we're working on is is the ability to have actionable and understandable Predictive Analytics that can be incorporated into forecasting processes.

We have enabled the CCH Tagetik platform to be able to run these type of machine machine learning algorithms and now we're working on his trying to figure out and trying to to work together with customers to build out content out of the box that people can use in there use in their planning process.

So they don't have to think about all of the complicated data science in a predictive process but can really you know use this an effective way that's meaningful for their planning processes.

So these are the three main, say, like a new things that are coming out in terms of product launches and obviously we're also investing very heavily in the the platform itself so never rest on your laurels at continuing to invest in the consolidation engine into the four modules of CCH Tagetik into Analytic Information Hub, which continues to be a strong area of growth in our platform.

So lots of cool new individual features that are coming out as well that we're very excited.

That's fantastic! You'll the unified platform with account reconciliation coming now with Smart Insights, with predictive planning and machine learning, it is just a fantastic roadmap.

So kudos to your team for getting all this done, it's thankless job in many ways.

But listen everybody, that's all the time we have today but we like to thank our special guest, Mr.

Anthony Marzetti.

Thank you, Anthony for joining us today.

Great, thanks for having me, it's a pleasure to be here.

so if you have any questions or comments, our email address should be like floating across the bottom of the screen as we speak.

If not not you know look us up on LinkedIn.

Anthony and I are both there so that's it for today but join me next week as we speak with Mr.

Bruce Maltman from Simpply.

And we are going to spend 5-10 mins talking about the importance of procurement and how that relates with the Office of Finance so until then everybody, stay safe!

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