Tax & AccountingFinanceMay 25, 2021

Techtronic Industries, Power Equipment chooses Wolters Kluwer to extend financial planning into operations enabling greater agility in their dynamic business.

The office of the CFO will be powered by CCH® Tagetik on SAP HANA, deployed on the Microsoft Azure cloud.

Wolters Kluwer, a global leader in professional information, software solutions and services, announced today that Techtronic Industries, Power Equipment (TTI PE), selected the CCH Tagetik expert solution to modernize profitability and cost allocation processes and enable greater agility in their dynamic business. 

TTI PE is a fast growing, world leader in Power Tools and Outdoor Power Equipment for Do-It-Yourself (DIY), professional and industrial users in the home improvement, repair, maintenance, construction and infrastructure industries. TTI PE searched for an innovative solution to fulfill their digital transformation vision going beyond traditional finance and extending their planning into operations. 

CCH Tagetik was chosen for its unified single solution which delivers:

  • ease of use
  • high performance
  • built-in financial logic
  • flexibility to integrate into the existing IT landscape 

CCH Tagetik will run on Hana deployed in the Microsoft Azure cloud. The enterprise grade implementation will allow fast performance when processing high volume of operational data such as invoice level sales data with customer and product detailed information for enhanced profitability analysis and reporting. TTI PE will now be able to perform on-the-fly modeling of advanced allocation rules to support business agility and cost allocation optimization.  

"We are proud that TTI PE has chosen the CCH Tagetik platform to support their fast-paced business. Our top goal is to empower their finance team with data-driven tools that can provide better insights in an agile manner,” says Alessio Lolli, Vice President & GM CCH Tagetik North America at Wolters Kluwer. “We welcome TTI to our growing community of customers in North America and beyond.”

"We are excited to partner with Wolters Kluwer to modernize our Profitability and Cost allocation process with the CCH Tagetik Finance Transformation Platform” says Roberto Cabral, VP of Finance at TTI PE.

About Wolters Kluwer

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

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