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Tagetik in Touch 2015: Technology Insights for Finance Champions

Tagetik CPM software for the Office of Finance

 

 

In this year’s opening conference keynote, Manuel and I talked about Tagetik’s commitment to helping customers become champions of finance and business.  In this post, I’d like to touch on how we continue to evolve Tagetik technology to support this important mission.  

We see pressures on the Office of Finance coming primarily from two sources. The first is external and comes in the form of increased reporting requirements to meet new and changing regulations. In fact, a recent EY survey of 500 CFOs showed that 90% of respondents expect to expand existing reporting in order to meet forecasting, sustainability, and CSR demands.  Anticipating such needs is a big part of our job.  Tagetik financial experts seek out pending reporting requirements across the globe years in advance so our solutions are ready when new regulations come into effect.  

For instance, we did this for Solvency II, which goes into effect in January 2016.  Currently, more than 100 customers are using Tagetik to prepare for Solvency II reporting needs. The new IFRS4, 9, and 15 reporting will require the performance of complex calculations on volumes of data from many disparate sources. The work we’ve done on our analytics engine and in backend system integration gives clients the ability to deal with these and other big data and reporting challenges.    

The second source of pressure on finance is the internal demand for more strategic insight and sophisticated planning support. CFOs are now asked to lead initiatives for integrated financial planning, integrated reporting, risk-aware planning and forecasting, and continuous forecasting.  

Over the last year, we’ve delivered new analytics to support complex dashboarding and analysis to support what-if scenario-based planning and strategic decision making.  We added PowerPoint export capabilities and other enhancements to our Collaborative Disclosure Management solution, giving customers the ability to create important , up-to-the-minute presentations such as board books or earning calls documentation in either Word or PowerPoint. We’ve also developed functionality and templates to support more strategic operational planning.  

It’s important to note that we aim not just to help you and your team create detailed reports efficiently. Our solutions are deliberately designed to help you work across functional areas, to collaborate efficiently with diverse stakeholders and contributors, to ensure you have absolute confidence in the data you report, and to give you the tools to help you present data in ways that are meaningful to your audiences.

At the same time, we press forward on leveraging the latest technology advancements – the cloud, in-memory computing, HTML5 – to bring you the performance, mobile access, and computing efficiencies that make your jobs easier.

I want to thank those of you who attended Tagetik in Touch for your time, support, and suggestions.  We value your conversations.  I hope to personally meet many more customers at our first Tagetik in Touch event in North America in beautiful New Orleans on April 24-27.

For those of you who missed this year’s conference, I invite you to listen to the recording of the Tagetik in Touch opening keynote – delivered with my co-CEO, Manuel Vellutini.

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