ifrs 9 key capabilities include
Powerful IFRS 9 Engine
The solution kick starts IFRS 9 compliance with pre-packaged calculations to determine the impairment of financial instruments following the IASB guidance. The solution allows users to classify financial instruments including Amortized Cost (AC), Fair Value through Other Comprehensive Income (FVOCI) and through P&L (FVPL). It enables users to calculate 12 month or lifetime Expected Credit Losses (ECL) at the instrument level and produce other IFRS 9 reports. These include comparisons to IAS39 and Solvency II. To comply with both IFRS 9 and IFRS 7 disclosure requirements, users get the reporting capabilities that allow them to create general reports and the ability to conduct more detailed analysis of each specific item.
Calculate & Integrate
Following a modular approach, our IFRS 9 solution may perform IFRS 9 specific calculations within its scope, or import data from existing systems (i.e. classification, risk data, etc.). Either way, the loading and verification of data from other sources, like instrument registries or credit risk systems, can be automated and managed by the finance organization. Within the classification phase, our IFRS 9 solution has a very complete, flexible and high performing SPPI test engine, as well as a sound and intuitive approach to stage allocation and stage transfer of financial instruments. The measurement phase determines impairment by calculating 12 month or lifetime Expected Credit Losses (ECL). Where needed, CCH Tagetik enables users to calculate EIR and CAEIR, in order to determine an IFRS plan, complete with all the elementary items (i.e. interests, deferrals, accruals).
Financial Information Data Mart
The solution creates a financial information data mart for IFRS 9 and other reporting requirements from one source. Pre-configured analysis leveraging Qlik Sense is available. Any other BI tool can be integrated so users can access the information they need for further analysis and visualizations of the lifetime of each figure. Using CCH Tagetik, users can easily aggregate to the account level and automate loading to the general ledger or subledger.
CCH Tagetik's IFRS solutions are non-disruptive to existing architectures - they integrate with all your systems, including CCH Tagetik CPM and non-CCH Tagetik applications, on premises or on the cloud. CCH Tagetik's ETL capabilities allow you to seamlessly integrate with any source system to import or export data.
Modelling and Calculation Engine
With CCH Tagetik’s calculation engine and the power of analytics, you can process and calculate large volumes of data quickly. Flexible modelling allows you to easily configure calculation logic and rules to stay compliant.
Disclosure and Reporting
A single version of data and our Collaborative Office solution makes it easy to report while adhering to IFRS 9’s disclosure requirements. Whether you are providing a drillable financial statement to your CFO, a pdf board book, a PowerPoint presentation for your investors; have complete confidence that numbers and narrative are accurate and auditable.
Get ahead of the curve on IFRS 9 compliance
Workflow and Collaboration
Finance, sales, and operations are better aligned using CCH Tagetik’s preconfigured workflow and communication tools that unify the entire cycle and keep contributors on track and reports on time.
Even with multiple diverse data sources, granular data, and complex calculations, Finance owns and manages the entire process from start to finish.
Users can see who, when, and where data came from, it’s entire lifecycle, down to the metadata. With CCH Tagetik, you get a detailed audit trail for full transparency.
Easy to Use
Intuitive user experience, pre-configured calculations and templates make IFRS 17 compliance as simple as possible for everyone involved.
Reuse Valuable Data
Reuse the same data across multiple internal and external reporting requirements. Upload data with adjustments back to source systems for consistent data across systems.
Reduce risk of errors, inconsistencies or omissions by using packaged templates and disclosure reporting intelligence.
Part of Unified CPM
No single regulatory report is an island, it’s the outcome of your entire financial management processes and reporting systems. CCH Tagetik is the only unified CPM solution to drive numbers accurately and efficiently into regulatory reports.
Cloud without Compromise
On Cloud. On Premise. One Solution. Whether you choose cloud or on-premise, it’s the same solution that’s owned and operated by finance.
CCH Tagetik's ifrs Software is trusted by leading companies across several industries
IFRS Consolidation, Budget & Planning of the Group, Cash Flow
IFRS Consolidation, Consolidation, CDM, Solvency II, IVASS Reporting
Browse our Resources
CCH Tagetik IFRS 9 Solution
CCH Tagetik provides an IFRS reporting hub including data repository, calculation modeling, reporting and disclosures in one easy-to-use solution.
Finance, meet IFRS 9, are you ready?
This interactive eBook walks you through the impact of IFRS 9 to your organization and help you develop your transition strategy.
The new IFRS wave – not to be underestimated
Blog post by Jérôme Vial, Country Head - CCH Tagetik Switzerland
Annual and quarterly IFRS reporting, Consolidation, Budgeting and rolling forecasting, Cash flow, Management and Investor Relations reporting
Group consolidation, Reporting, IFRS and FinRep compliance, Segment reports and Risk information
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