FinanceFebruary 02, 2022

Tunstall Group implements CCH® Tagetik expert solution from Wolters Kluwer to support financial consolidation and reporting

Wolters Kluwer, a global leader in professional information, software solutions and services today announces that Tunstall Group has implemented its CCH® Tagetik Financial Close & Consolidation and CCH® Tagetik Collaborative Office solutions on Cloud to support financial consolidation and reporting. Tunstall Group has also selected HAYNE as implementation partner for their project.

In business for more than sixty years, Tunstall harnesses technology to support those requiring care and health intervention to live independently in their chosen home or group setting. The aim is to balance independence with reassurance and provide tailored support which meets individuals’ immediate and long-term needs. Tunstall supports more than five million end users across the world.

Tunstall was facing challenges prior to the implementation of a new consolidation solution. Their legacy system lacked the sophistication and flexibility to deal with the increasingly complex consolidation needs of the growing Group, and the ability to drive the deep level of insight required. The software solution also needed to pull in both financial and non-financial data directly from the ERP and other group systems to enhance overall reporting capabilities.

The quality of CCH Tagetik’s expert solution meant that it was the standout vendor of choice. CCH® Tagetik Financial Close & Consolidation and the addition of Collaborative Office will help Tunstall to address these challenges and to achieve a number of goals:

  • Fast & Automated: leading to a faster, better controlled month end close and consolidation process. Tunstall can now complete trial balance imports, intercompany reconciliations, journals and reporting in a single platform.
  • Enhanced Reporting capabilities: an ability to deal with multiple complexities and to produce higher quality reporting and a greater level of insight.
  • Advanced consolidation intelligence and deeper analysis: pulling in both granular financial and non-financial data to enable integrated reporting and a faster close.
  • Bring in additional data: the ability to bring in additional data using the built-in CCH® Tagetik Analytic Information Hub, a game-changing performance engine that centralizes and transforms high volumes of granular financial and operational data — quickly.

“The adaption of a sophisticated, better controlled and faster solution like CCH® Tagetik Financial Close & Consolidation and Collaborative Office means we can spend more time drawing conclusions from the data and driving better insight, and we can now integrate much of our reporting with the consolidation tool,” said Stephen Jones, Group Finance Director at Tunstall Group. “In addition to that, the presence of CCH® Tagetik Analytic Information Hub and the ability to bring in non-financial data such as operational and KPI-related data was a key selling point for us."  

“We’re very excited to be working with a pioneering company like Tunstall, who are using a CCH® Tagetik expert solution to drive greater efficiencies and insight across both financial and non-financial information in support of their business,” said James McEntee, Managing Director at CCH® Tagetik UK.”

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.

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