When It Comes to Your CPM Solution, Versatility Matters

One month ago, Dave Kasabian posted here a blog on why CCH Tagetik should be viewed as the MVP (most valuable player) in the CPM market. As Dave points out in his blog, which uses the United States’ World Series as a metaphor, one of the things that makes for an MVP is versatility. Versatile athletes can play multiple positions well, and they are highly valued by coaches because they can fill in wherever needed.

In the recent Gartner report, Critical Capabilities for Financial Corporate Performance Management, CCH Tagetik was the only vendor (out of 11 vendors evaluated) to score in the top three across all five use cases. And, in two use cases – those for large and EMEA-based organizations – CCH Tagetik was ranked first.

The consistently high Gartner rankings demonstrate CCH Tagetik’s fit for virtually any organization, no matter its size, structure, or complexity. To go back to the sports analogy above, the rankings make the case that CCH Tagetik is the strongest utility player in the corporate performance management market today.

 

Critical Capabilities
Flexibility and Adaptability: Our Middle Name

There are many factors that make CCH Tagetik the most flexible and adaptable CPM solution on the market. Following are just a few:

 

  • Cloud or on-premise: you choose. Unlike most other solutions, CCH Tagetik’s functionality is identical no matter which deployment option you select. So, if your organization is not yet ready for a cloud solution, you can choose an on-premises implementation today, knowing you can move to the cloud when the time is right without disruption to your finance processes and reporting and without any additional user training.
  • Consolidation versatility. CCH Tagetik can be used for the simplest to the most complex consolidation. CCH Tagetik consolidates real-time financials from multiple books in a single system for a faster, compliant close and consolidation. While many systems are plagued by issues of scaling, rounding, and balancing, CCH Tagetik automatically aligns financials across your business. Those finance teams managing multiple currencies and interest rates, complex operational structures, and myriad compliance requisites can count on retaining data integrity and consistency across the board. An intercompany cockpit allows for easy matching and monitoring of all transactions between entities on a graphical dashboard. CCH Tagetik’s versatility means you’ve got a consolidation solution that can meet any requirements, no matter how your business grows and changes.
  • Budgeting, planning, and forecasting for business agility. When the future of your organization changes based on today’s numbers, tomorrow’s events, or next month’s economic shift, you need a culture of resilience and flexibility across finance, the C-suite, operations, and all lines of business. CCH Tagetik unifies budgets and plans using real-time data to future proof your organization. Transform manual, error-prone processes into accurate forecasts and models that are up-to-date and give business leaders the confidence needed for major decisions. From strategic,to financial to operational planning, the unified solution ensures plans are up-to-date and aligned with key metrics. With built-in functionality, detailed cash flow forecasting, rolling forecasts, and meaningful strategic planning all become doable realities for finance.
  • Reporting for modern finance. Our reporting solution, Collaborative Office, has been recognized by industry analysts for its versatility and flexibility in managing today’s regulatory disclosure and internal reporting requirements. In addition to managing and tracking input and reviews from across the organization, Collaborative Office combines numbers and narrative for detailed, easy-to-understand reports in familiar Word, PowerPoint, or Excel formats. Customers use Collaborative Office for all types of reporting – ranging from standard finance-focused reports to sustainability and annual reports to budget and board books.
  • A proven commitment to finance. Dedicated to finance for more than a decade, CCH Tagetik continues to expand its platform to address the requirements of modern finance. The most recent evidence of our company’s commitment is the addition of regulatory solutions for Solvency II, IFRS 9 (financial instruments), IFRS 15 and ASC 606 (revenue accounting), IFRS 16 and ASC 842 (lease accounting), and IFRS 17 (insurance contracts).


Versatility: The Difference in Winning and Losing

In sports, a versatile player often means the difference between a winning and losing team.

The same can be said for critical enterprise solutions. A solution that narrowly meets business and finance needs today may become obsolete tomorrow due to unforeseen changes in organizational structure, competitive dynamics, economic climate, or regulations. Besides being a drag on finance resources, an inadequate or outdated CPM can compromise business agility, drain IT budgets, and create barriers between finance and other parts of the organization.

That’s why it’s important not to get locked in when selecting a new CPM solution. We advise potential customers to certainly consider their current system needs, but we challenge them to think towards the future, as well.

 

If you’re currently considering new CPM options, we invite you to take a look to our website.

 

Critical Capabilities

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