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Too often we encounter businesses holding onto outdated EPM solutions for fear that it will be too expensive to replace. But EPM experts & analysts agree: outdated Historical Financial Management solutions are losing your company time and money.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Too often we encounter businesses holding onto outdated EPM solutions for fear that it will be too expensive to replace. But EPM experts & analysts agree: outdated Historical Financial Management solutions are losing your company time and money.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

Moving from the monolithic age
Moving from the Monolithic Age in financial consolidation
Switching to a modern CPM solution not only moves you from the monolithic age, it puts your finance executives in position to offer key strategic insights that drive better business results also automating your team effort in its day to day activities, definitively improving accountability and consistency of information. Discover five benefits for making the switch.
Read Blog Post
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5 Things Every Consolidation System Should Do ... But Doesn’t
In this e-book, we identify the common shortcomings of dated consolidation software and explore what you should expect from a modernized consolidation software today.
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The four costs of legacy consolidation
The Four Costs of Legacy Consolidation
In this whitepaper, we’ll lay out unexpected ways traditional consolidation methods are draining your resources — financial, operational, and human — and tease out why an end-to-end, automated consolidation strategy is the key to unlocking consolidation’s — and Finance’s — insight generating potential.
Read Whitepaper
7 Warning Signs It’s Time to Replace Your Legacy EPM Solution
7 Warning Signs It’s Time to Replace Your Legacy EPM Solution
Many companies believe that replacing an outdated EPM solution is too expensive or too complex, in reality a modern solutions can make the replacement process painless and save you time and money. Read this EBook to find out how much your EPM solution is really costing you.
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The CFO’s Guide to Upgrading and Replacing Legacy CPM Applications
At some point, every finance organization outgrows their software and systems. Software doesn’t physically rust, so how can you tell when it’s becoming functionally obsolete – and past it’s time of replacement? In this on-demand webinar, we will discuss the challenges and shortfalls organizations face with the legacy enterprise finance software, and the advantages customers are gaining by converting to alternative solutions.
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5 Paybacks of Automated Financial Close and Consolidation
The first step towards the digital transformation of finance begins at square one: financial close and consolidation. In this white paper, discover how an automated close and consolidation solution creates a solid foundation for all other financial management processes and is a critical component in evolving finance into a data-driven business partner to the organization.
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Case Study: Timex USA
Discover why Timex USA chose CCH Tagetik to replace Oracle Hyperion Enterprise.
Read Case Study
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Historical financial management vs. CCH Tagetik: a feature-by-feature comparison for CFOs
Many legacy system providers have stopped maintaining their on-premises solutions. No new upgrades. No new innovations. No roadmap. The result: finance teams must contend with frequent delays, wasted resources, overextended budgets, and an overload of menial, error-prone tasks. Discover how CCH Tagetik flattens the competition in this feature-by-feature comparison.
Read Ebook
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From Historical Financial Management to CCH Tagetik
How do you know when it’s time to replace your consolidation software? In this short report, we identify the gaps in outdated consolidation software and shed light on what you should expect from a modern consolidation software, like predictive and prescriptive analytics.
Read Whitepaper

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

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Unlimited Dimensionality and Hierarchies
We give you flexibility. Turn high volumes of granular financial and operational data into actionable information.
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Unified Platform
We give you consistency. Manage consolidation, budgeting, planning, reporting, disclosure, profitability analysis and regulatory requirements in one solution.
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Maintained by Finance
We give you ownership. Use built-in financial intelligence, an intuitive interface and tools for configuration to easily manage the solution — without relying on IT.
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Alignment and Accountability
We give you control. Align finance and operations through a built-in workflow, collaboration tools and audit trail.
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High Performance Platform
We give you speed. Expedite the close and consolidation — and get advanced analysis — through seamless integration between CCH Tagetik and Oracle, SAP HANA, and Microsoft.
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Full Functionality Cloud and On-Premise
We give you complete capabilities — without compromise. Access the same functionality on the cloud or on-premise. If you choose to start on-premise and switch to cloud, AWS or Microsoft Azure later, we can easily migrate your process when you’re ready.
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Make Data-Driven Decisions-Fast
We give you the tools to become a data steward AND a strategic advisor. Get the power to investigate financial and non-financial data, identify performance drivers and expand the granularity of your business insights using our groundbreaking data engine, the Analytic Information Hub.
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Future-Focused
We lay a foundation for the future. Rest assured, you’ll be prepared for — and equipped with — the most innovative technology in financial management, like artificial intelligence, machine learning and predictive analytics. Our product roadmap is longterm, our product upgrades are frequent, and we’re always working with our customers to be the most comprehensive solution on the market.

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

https://assets.contenthub.wolterskluwer.com/api/public/content/2b85e41133da452fb850f6d01f03f65e
Historical Financial Management vs. CCH Tagetik: A Feature-by-feature Comparison for CFO's
CCH Tagetik financial close and consolidation

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
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 →

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