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Consolidation and Close

You deserve four weekends a month, not three


At CCH Tagetik, we know that the financial close process is complex, time consuming and laden with risk. That’s why our unified corporate performance management solution provides robust automation, process-driven workflow, stringent controls and detailed audit logs to modernize legacy approaches to financial consolidation. With CCH Tagetik, we manage the complexity so you can accelerate the close and reporting process across all business entities.


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Consolidation and Close demos


Benefits

Benefits


Reduce the cost and effort

Reduce the cost and effort of your monthly and quarterly closing and reporting

Increase confidence

Increase confidence and eliminate inconsistencies with a single source of the financial truth

Cut days off the monthly close process

Cut days off the monthly close process by eliminating bottlenecks and delays

Minimize errors

Minimize manual errors with automated controls, validation, and error checking

Full traceability

Full visibility, traceability and accountability from start to finish

Built-in financial intelligence workflow

A built-in financial intelligence workflow manages even the most complex close processes across decentralized business units

Financial Consolidation and Financial Close key capabilities include

Chart of accounts and rules
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Define control groups between main accounts and related details or variations to be displayed in reports.

Legal entities and hierarchies
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Define legal entities and reporting units, and set unlimited hierarchies to support complex ownership requirements.

Legal structure
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Conduct event-based management, by period, of the history of your legal structure, such as by percentage of ownership, financial investment variations, or net equity variation and then manage multiple scenarios (holding and sub-holding levels) and consolidation rules.

Currency and Conversion
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CCH Tagetik supports unlimited currencies and exchange rates. The moment you enter or load data, you can instantly see currency and exchange rate differences and the associated impact on consolidated actuals in plans, forecasts, models and reports. 

Accounting principles
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In CCH Tagetik, you can generate multiple, simultaneous consolidations for U.S. generally accepted accounting principles (GAAP), XBRL, and International Financial Reporting Standards (IAS/IFRS). All data is gleaned from a single source without having to run multiple consolidations and fully traceable for complete transparency.

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Intercompany (IC) matching and eliminations
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CCH Tagetik speeds up and automates intercompany reconciliation. Simply right click to add new entries or access the Intercompany cockpit to define groups of accounts for IC matching or eliminations. You can track the status of these transactions through the IC Reconciliation Cockpit. 

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Controls and Diagnostics
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In each step of CPM - from data entry, to adjustments, consolidation and reporting - is governed using automated financial controls, validations checks, and balance. CCH Tagetik gives you completely control over financial processes and captures the history of each data point in audit logs.

Financial reporting
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In CCH Tagetik, you can manage all financial reporting requirements. How? CCH Tagetik provides you with pre-built logic for credit/debit signs, double-entry logic for creating cash flow statements, automated rounding and scaling, and drill-down capabilities for faster, more accurate reporting and more thorough analysis.

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Advanced technology
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CCH Tagetik uses in-memory data processing to quickly complete calculations and transform your consolidated data into actionable, compliant results. What's more is that financial intelligence preserves interest and currency rates along the way. Our use of advanced technology doesn't stop there: a robust analytics suite allows you to slice, dice and dig deep into numbers in order to turn transforms consolidated data into insights.

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Gain a Strategic Advantage with a New Perspective

Consolidation Comparison Matrix

The barrier that prevents many CFOs from embracing new technology is that the old technology still works. Today, CEOs and industry analysts believe CFOs need to embrace technological innovation, the time is now to invest in replacing tactical applications with more comprehensive and strategic ones.

Shorter cycles, lower TCO, better decision-making - that’s the power of CCH Tagetik. Work better, smarter and more efficiently with more confidence and less risk. Spend less time on routine, manual and repetitive activities, and more time executing business strategies that drive your financial results.

Looking for a new perspective?  Here’s a sneak peek at our Consolidation Comparison Matrix, to see the added value a new perspective could bring to your organization. 

Download the full Comparison Matrix

CCH Tagetik's Consolidation and Close Software is trusted by leading companies across all industries


Unicredit Group

Consolidation, Budgeting, Disclosure Management, Reporting & Analysis

Read the case study

Watch the Video

Generali Group

IFRS Consolidation, MVBS, BPF, IVASS, Solvency II, Technical Provision

Aggreko

Consolidation, Closing, Reporting, KPIs, Analytics reporting, Budgeting & Planning

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Timex

Worldwide Consolidation & Reporting

Medline

Financial Consolidation, Reporting

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Talanx

Solvency II, Disclosure Management, Consolidation, Reporting and Analysis

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BE A CONSOLIDATION HERO!

CCH Tagetik can help modernize your consolidation tools, eliminate error-prone, time-intensive manual data entry and cut days of the close cycle.


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Testimonials

Customer Quotes


On Demand Webinar

CONSOLIDATION & FINANCIAL REPORTING EVOLUTION: HOW AND WHY TIMEX DECIDED IT WAS TIME TO TAKE ACTION

On this Progressive CFO series, Shelly Krpata, Timex’s Senior Manager of Financial Reporting and Consolidation takes you through the journey Timex took, the challenges they faced, and how they benefited by switching to a scalable solution that transformed their close and reporting process.

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