CCH Tagetik Spring '18 Release Now Available

It’s that time of the year again, and we are all thrilled to share what our development team has been working on in the past few months!


This quarter’s release continues delivering on the transformation journey that is characterizing the office of finance today with the launch of our Finance Transformation Platform. The CFO’s role as a strategic partner to the CEO and the need for finance professionals to collaborate with business users, together with expanding regulatory reporting requirements, demand that the office of the CFO extend beyond traditional financial analysis and tap into analytical information.

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Our Finance Transformation Platform combines traditional corporate performance management and regulatory reporting with in-depth analytics and modeling capabilities  in a unified platform that efficiently harnesses data with control and faster processing through a modern, multi-device, and intuitive user experience.


The Finance Transformation Platform does not require any additional installation and will not disrupt anything currently installed. CCH Tagetik users will immediately have the ability to start leveraging and reporting on an unlimited amount of operational data, model business diversities to address unique divisional needs, and provide the appropriate data transparency that today’s regulatory requirements require -- all in a governed and controlled fashion.


Our Finance Transformation Platform provides two interconnected workspaces for the collection and management of data handled by office of the CFO:

- The Financial Workspace encompasses the functionality related to traditional corporate performance management as close and consolidation, budgeting and forecasting, and reporting.


- The Analytical Workspace extends CCH Tagetik functionality to leverage operational and analytical data for more data-driven, faster, strategic work. Following are just a few ways the Analytic Workspace could bring benefits to your organization:

 

  • Boost your planning and modeling capabilities, allowing you to plan at a detailed operational level such as by SKU in manufacturing or at an individual patient level in healthcare.
  • Enhance your profitability analysis by understanding and monitoring your P&L impact at a more granular level such as at the instrument level for banks or for a specific marketing campaign in media and advertising.
  • Respond to regulatory requirements with granular analytical details such as reporting at the lease or contract level for ASC8842/IFRS16 (lease accounting) and IFRS17 (insurance contracts).

The Analytical and Financial Workspaces communicate natively with each other, sharing dimensions where needed. Most importantly, users now have with the ability to drill down from any P&L report residing in the Financial Workspace to all the operational details hosted in the Analytical Workspace.

Through its unlimited dimensionality and optimized performance for massive amounts of data, CCH Tagetik customers can now exploit the benefits of our Analytical Workspace as part of their technology investments and further their journey to modernize finance!


As excited as we all are for our new functionality, our development team did not forget the basics and delivered on three additional items integral to this service pack:


- Enhanced administrator’s experience. With the user experience always top of mind, we have simplified the admin experience in many areas of the application such as metadata management, process set-up, rule definition, user rights, and data integration (ETL). While the legacy UI for all admin functions still exists, we invite all users to experience first-hand the benefits and ease of use of our new HTML5 admin interface!


- Reporting. Knowing full well that fast performance is never “fast enough,” we have kicked off a focus on our web forms optimization. CCH Tagetik users will have the ability to test any of their current forms with the new, fast performing engine through the ad hoc functionality and in accordance with the list of features currently available in the new engine.


- General Data Protection Regulation. In response to the recent requirements for personal data protection and management, CCH Tagetik now allows the system to be GDPR compliant with respect to database fields designed for storing personal data related to CCH Tagetik users. The content of these fields is encrypted on the database through a uniquely generated encryption key, as well as any information in the audit logs resulting from any field change.


I hope you are as excited as I am for this new release and for what is coming next. Please do not hesitate to contact your CCH Tagetik representative for more details.

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