Finance27/2/2020 12:00:00 AM

Wolters Kluwer APAC boosts their planning processes by bringing together granular financial and operational data in a single solution.

Learn how CCH Tagetik's Budgeting & Planning saves time, improves operational efficiency and elevates performance.
2 min demo: Data Integration
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Transcript

WEBVTT The business landscape for Asia-Pacific is quite a complex one, we operate in about eight countries across Asia-Pacific. We consolidate nine different reporting currencies and we consolidate fifteen legal entities.

We needed a tool that would actually enable us to simplify our reporting and get us local management reports.

The factor that drove us to invest in CCH Tagetik, was replacing our ERP system.

That meant our previous budgeting and reporting tool was no longer relevant, so we needed a new solution and CCH Tagetik partners well with SAP, which was one of the reasons that we selected it.

We have some complex data sets and dealing with such big data was an issue for us.

So we were looking for a new solution that could actually handle that complex data and do it in a more efficient manner. The main immediate need was actually to get a reporting and forecasting tool up and running very quickly.

The validation process of that was really important to make sure we had accurate financial reporting so that we could deliver our local management needs and our upstream reporting.

Phase 2 was coming back to actually build out some further reporting so we can actually optimise the tool, and phase three was to get to the driver-based forecasting models such as the revenue planning, the headcount planning, and capex planning. The main benefit we get from CCH Tagetik is having one source of the truth.

CCH Tagetik is now our Bible so we rely upon that to do our actual reporting. It does all our forecasting and planning that we need to do for the business on a quarterly basis and an annual basis, and it also uploads into our corporate reporting tool. CCH Tagetik is very flexible, very customisable and I think you can design it the way you want to design it, so I would recommend it for those reasons.
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