FinanceMay 15, 2024
Wolters Kluwer redefines Corporate Performance Management with announcement of AI-powered CCH® Tagetik Intelligent Platform
Wolters Kluwer, a global leader in information, software, and services for professionals, today announced its AI-powered CCH® Tagetik Intelligent Platform, which has been designed to digitally transform the efficiency, accuracy, and strategic ability of the Office of the CFO.
Ralf Gärtner, Senior Vice President & General Manager, Corporate Performance Management (CPM) Solutions at Wolters Kluwer, said: “We are the first to bring to market an intelligent, AI-empowered platform that enhances an entire suite of CPM solutions. We know that GenAI has the potential to enable finance leaders to deliver financial close and planning cycles fifteen times faster than at present1 and we are harnessing that power for our clients. CCH® Tagetik Intelligent Platform’s new, state-of-the-art AI functionality empowers CFOs to unlock the answers they need from their data in a fraction of the time to make better informed, faster, strategic decisions.”
The state-of-the-art AI functionality in the CCH® Tagetik Intelligent Platform empowers finance professionals to democratize access to meaningful financial data, manage and control massive datasets with unprecedented speed and automation, unlock hidden insights, and improve and expedite decision making. The platform’s new AI-enabled capabilities include:
- Ask AI, the new “GenAI ally” from CCH® Tagetik, is a central focus of this week’s CCH® Tagetik inTouch Global User Conference. This innovative functionality, integrated into the CCH® Tagetik Intelligent Platform, enables users to receive real-time, visual responses to text- and voice-based natural language queries. Wolters Kluwer estimates that, like other generative AI solutions, Ask AI will drive efficiencies enabling users to spend ten times more resource on value-adding activities including analytics, decision support and innovation2.
- Intelligent Analytics enables self-service reporting, analytics, dashboarding and visualization. The engine allows users to access data in a new way – rapidly searching through organized information sets to quickly uncover accurate answers to everyday business questions.
- AI Automapping accelerates data collection and ensures data governance, while new AI Anomaly Detection ensures data integrity by automatically identifying outliers and flagging unusual or abnormal data patterns.
- Intelligent Disclosure dynamically integrates financial, non-financial, and ESG consolidated numbers with narratives into data-linked reports. This assures finance and business teams that any document, including annual filings, board books, and management presentations, is always accurate.
- AI Driver-Based Analysis helps users analyze large swaths of data more quickly to identify key business drivers and exponential growth areas.
These new AI capabilities build on existing AI features of CCH® Tagetik, like Predictive Intelligence and Transaction Matching, which already empower users to create explainable, insight-driven predictive forecasts, accelerate data reconciliation and improve decision making.
Together, these first-to-market AI innovations reinforce Wolters Kluwer’s commitment to investing in AI to serve and drive the continued digital transformation of the Office of the CFO.
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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.