Wolters Kluwer, a global leader in professional information, software solutions and services announces that its CCH® Tagetik expert solution ranked 1st among vendors in in Dresner’s latest report in its Wisdom of Crowds series, the 2021 Financial Consolidation, Close Management and Financial Reporting (FCCR) Market Study. Based on input from end users in all geographies and various organization sizes, the study aspires to present an objective source of industry research that helps consumers benchmark common FCCR challenges and ranks software vendors by their ability to optimize FCCR processes.
Wisdom of Crowds® market research reports from independent advisory firm Dresner Advisory Services, provide information and analysis to help in the process of identifying and selecting vendors of enterprise performance management and business intelligence software. In the FCCR Market Study, the ratings focus on Financial Consolidation, Close Management, Financial Reporting and Architecture, with CCH® Tagetik notable for scoring highly across all categories.
The report shows how respondents view financial reporting tools as a critically important reporting capability and that FCCR vendors need to deliver functionally-broad financial reporting solutions to be competitive in the market. The report identifies a significant minority of organizations which are yet to adopt FCCR software and still use Excel in-house systems or modules of ERP solutions. Such organizations typically make far fewer decisions on a data-driven basis.
“Wisdom of Crowds® FCCR Market Study is a compelling and objective source of research, shining a light on how peers leverage and invest in planning and related technologies. To have gained the highest rating among all vendors in this wide-ranging report is an affirmation of the support we give our global customer base with end-to-end comprehensive solutions that enable them to accelerate, automate and to go beyond in times of fast-paced change,” said Ralf Gärtner, Senior Vice President and General Manager of Corporate Performance Solutions, Wolters Kluwer Tax & Accounting.”
The FCCR report analyzes importance and use of performance management capabilities which are targeted specifically to the finance function and provide an important portion of a robust performance management strategy,” said Howard Dresner, founder and chief research officer at Dresner Advisory. “Congratulations to Wolters Kluwer and its CCH Tagetik team on receiving top marks in our inaugural FCCR Market Study.”
CCH® Tagetik provides ideal solutions to manage complex global requirements, streamlining processes — from account reconciliation, local close to group consolidation, financial reporting, regulatory compliance and disclosure. CCH® Tagetik supports the quick management and consolidation of complex organization structures, and embraces automation for tasks such as intercompany eliminations, currency conversions and journal entries. The strong data management and governance capabilities are powered by the CCH® Tagetik Analytic Information Hub, a single trusted source of information which centralizes all granular financial and non-financial data to enable integrated reporting and a faster close.
Read the full report here.