Gartner Magic Quadrant for Cloud Financial Close Solutions

Financial close solutions help the office of finance manage the financial close and apply appropriate controls throughout the accounting cycle. Application leaders should use this Magic Quadrant to identify vendors that are a good match for their financial close needs.

Gartner identified three types of cloud service vendor that meet the inclusion criteria:

• Cloud-only vendors with cloud solutions that have, from the outset, been architected wholly or largely as cloud services.
• Traditional on-premises vendors with new "built for the cloud" solutions.
• Traditional on-premises vendors that have made their solutions available as a cloud service. All components have to have subscription pricing, including the license for the product.

CCH Tagetik Financial Close & Consolidation helps organizations streamline and automate the financial close process while maintaining strong governance and transparency.

Key capabilities include:

• Financial consolidation
• Intercompany matching and eliminations
• Close process automation
• Workflow management
• Auditability and compliance controls
• Integrated financial reporting
• AI-enhanced analytics and insights

By connecting close, consolidation, and reporting on a single data foundation, CCH Tagetik helps finance teams close faster, improve accuracy, and gain greater confidence in reported results.