FinanceDecember 16, 2019

Wolters Kluwer CCH Tagetik provides transformative reporting, budgeting and planning suite for education resource leader

Discovery Education’s moves to CCH Tagetik’s scalable solution in conjunction with its separation from Discovery, Inc. and transforms its ability to derive information from data and sharpens its response to business dynamics

CCH Tagetik, part of Wolters Kluwer Tax & Accounting, a global provider of market-leading software solutions and information services for finance professionals has implemented a transformative suite of reporting, budgeting and planning processes for Discovery Education, the USA-based global leader in standards-based digital content and resources for students from kindergarten through high school.

The leader in standards-aligned digital curriculum resources, engaging content, and professional learning for K-12 classrooms, Discovery Education spun out from Discovery, Inc. in 2018.  At that time, Discovery Education was operating a manual spreadsheet-based budgeting and planning process. The company sought to automate and extract far more information from its data, particularly in terms of HR planning since this accounts for a significant percentage of its annual expenditure budget. It was also essential for them to rationalize the use of different exchange rates since Discovery Education operates globally and transacts in different currencies.

CCH Tagetik’s flexible, scalable solution, included for Discovery Education: Budgeting and Planning, Power User, Administrator, Collaborative Office and the CCH Tagetik Standard Platform. In this case, data is supplied from the customer’s Sage Intacct ERP system among other sources.

Decisive points of differentiation compared with competitors included CCH Tagetik’s implementation strategy, which involved co-building the system with the client’s finance team, rather than the IT department, and providing case study examples along the way to illustrate best practice and the ability to evolve with changing needs over time.

"The CCH Tagetik team has been a great partner throughout the implementation process. They prioritized training and knowledge sharing of the solution, which allowed our team to own more of the development process and gain firsthand experience understanding the flexibility of the solution." said Vice President of Financial Planning & Analysis Steve Maciag.

"With CCH Tagetik’s solution, Discovery Education can be more proactive in the market rather than reactive. They're now much more efficient and better placed to see the where the business is at any given time. They will be able to achieve more insights and adapt to their growth. We aim for long-term relationships which is why we build our solutions to be flexible regarding development of the business and the market in which it operates." Says CCH Tagetik Sales Representative Steven Davis.

About Wolters Kluwer

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