Is it time to Migrate?

Too often we encounter businesses holding onto outdated EPM solutions for fear that it will be too expensive to replace. But EPM experts & analysts agree: outdated Historical Financial Management solutions are losing your company time and money.
Still unsure if your company should migrate to a more modern solution?

Too often we encounter businesses holding onto outdated EPM solutions for fear that it will be too expensive to replace. But EPM experts & analysts agree: outdated Historical Financial Management solutions are losing your company time and money.

Still unsure if your company should migrate to a more modern solution?

8 warning signs that its time to move on:

  • Your close and consolidation process requires multiple manual data uploads and data exports
  • Your consolidation between entities is fragmented and you don’t have a unified workflow to control all processes
  • Your consolidation system can’t accommodate new or evolving standards, currencies, or corporate activities
  • Your consolidation process is siloed from reporting and disclosure processes
  • You need costly customized scripts just to keep consolidation running
  • Your finance team depends on IT to administer and update the system
  • You’re often faced with expensive upgrades that don’t reduce time or cost margins and there is a lack of long-term roadmaps
  • Your solution requires lengthy staff trainings 
Book your free assesment today:

Expanding your understanding of software migrations

Vendor selection tool: Software solution checklist

When selecting a new software vendor, it can often be hard to know the exact features your company will need right now, as well as in the future. To help, our top migration consultants created this helpful checklist of must-have consolidation software features that should be available in a modern consolidation solution.

  • Full Close-to-Disclose in one application (including account reconciliation, local close, consolidation, reporting, disclose, regulatory & tax reporting and iXBRL)
  • A cloud solution with no compromises (i.e., on-premise full functionality)
  • Built-in, automated financial intelligence
  • Finance-owned solution that can be updated quickly, without depending on IT
  • Zero-footprint, mobile ready and platform independent: enter your solution simply through your web browser
  • Seamless Microsoft Office integration
  • Ad-hoc reporting and real-time analytics
  • Ease of use with modern user interface
  • Comprehensive Intercompany Matching capabilities and Cockpit
  • On-the-fly calculations
  • Full integration with Word and PowerPoint for booklets, financial & management reports and annual report
  • Advanced business intelligence with Microsoft Power BI, Qlik, Tableau, SAP Hana, SAP Analytic Cloud, CXO-Cockpit, etc.
  • Tax provisioning, tax reporting, country by country reporting and transfer pricing in the same software to accelerate fiscal reporting as well
  • Full traceability of automated adjustments
  • Full transparency with auditors ready reporting for auditors' package
  • Innovative Long-Term Roadmap
  • Like-for-like analysis via time-dependent hierarchies to boost organic growth analysis and perform like-for-like analysis in any custom dimension
  • Currency conversion and foreign currency analysis for any ad hoc question
  • Allocations
  • Data validation
  • Ability to run multiple sub-consolidations simultaneously
  • Double entry logic for journal entries
  • Smart and unlimited dimensionality to expand data granularity for reporting, analytics and insight.
  • Manage Multiple Chart of Accounts (COA’s) in different segment dimensions
  • Time-series intelligence to make use of different calendars for reporting
  • Intelligent commenting, at the consolidated level with drill down capabilities
  • Organic growth analysis, including historical data
  • Constant FX-rate analysis and pro-forma analysis
  • Automated elimination of FX-effect in indirect cashflow statement

How CCH Tagetik differs from historical financial management

For a more detailed feature-by-feature comparison, please download this helpful guide:

Historical Financial Management vs. CCH Tagetik: A Feature-by-feature Comparison for CFO's
CCH Tagetik financial close and consolidation
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See the evolution in action

Watch this short demo to get an inside look at CCH Tagetik Financial Close.

Request a free migration assessment

In the past few years, CCH Tagetik has migrated hundreds of customers using outdated software onto its award-winning CPM platform. Our trusted solution comes with an extensive migration package that includes:

  • Free migration assessment
  • Dedicated migration consultants
  • Tailored Historical Financial Management migration methodology for seamless data transfer and implementation
  • Award winning consolidation platform with built-in intelligence
  • Unified workflow across close cycle
  • The flexibility of On-premise, Cloud, or Hybrid
  • Comprehensive reporting with MS Office integration
  • Fast upgrades & product roadmap
  • Extensive partner network
Request Your Free Migration Assessment Today
About CCH Tagetik

Wolters Kluwer (AEX: WKL) enables finance, legal, tax, and healthcare professionals to be more effective and efficient. We provide information, software, and services that deliver vital insights, intelligent tools, and the guidance of subject-matter experts. We understand the complex challenges that face the Office of the CFO and translate that knowledge into intuitive, enterprise-scale CCH Tagetik performance management software solutions that drive business results. With over 180 years’ experience in the markets we serve, Wolters Kluwer is lifting the standard in software, knowledge, tools and education. Visit CCH Tagetik Website →