Financial Close and Consolidation Software

AI-powered financial close and consolidation software helps finance teams automate repetitive activities, identify anomalies, improve data quality, and accelerate consolidation cycles. AI can support activities such as data validation, mapping, unconsistency detection, analysis, and disclosure enabling teams to spend more time on strategic decision-making and less time on manual processing.

Many organizations still manage financial close and consolidation processes using spreadsheets, disconnected systems, and manual workflows. This can lead to:

• Long close cycles and reporting delays
• Data quality and reconciliation issues
• Complex intercompany elimination processes
• Difficulties managing multi-entity and multi-currency structures
• Limited visibility into auditability and governance
• Increased risk of errors and compliance issues
• Multiple ERP with different transformation timelines

CCH Tagetik supports organizations in:

• Managing and coordinating close activities across teams and entities
• Monitoring task completion and closing process status in real time
• Automating controls and key financial close workflows
• Validating data quality before consolidation and reporting
• Tracking reporting progress through a structured, auditable workflow
• Improving visibility, governance, and accountability across the close cycle
• Reducing manual effort and accelerate time-to-close

Achieving a more efficient, accurate, and controlled financial close process

When evaluating a consolidation software, organizations should look for:

• Automated intercompany eliminations
• Multi-currency consolidation
• Support for IFRS and GAAP reporting requirements
• Management of complex ownership structures and legal entities
• Audit trails, governance controls, and compliance support
• Workflow-driven close management
• Scalable performance for large data volumes
• Integration with ERP, CPM, and source systems
• AI embedded directly into financial close and consolidation workflows, rather than added as a disconnected capability
• Built-in regulatory frameworks to support ESG, tax, and financial reporting compliance
• A business-owned platform that enables finance teams to manage ownership structure changes with greater agility
• Integrated disclosure management within the close and consolidation workflow to strengthen auditability and consistency
• Open connectivity to multiple ERPs, MCP systems, and data lakehouse environments

These capabilities help ensure accurate and efficient financial consolidation across the enterprise.

CCH Tagetik combines financial close, financial consolidation, reporting, and analytics capabilities within a single AI-powered platform.

Key differentiators include:

• AI-augmented consolidation and validation processes
• Native SAP HANA integration
• Support for complex ownership structures and M&A activity
• Automated intercompany eliminations and currency conversion
• Low-code/no-code business rules
• Scalable performance for large global organizations

This enables finance teams to modernize close and consolidation without increasing operational complexity.