STAMFORD, Conn. & LUCCA, Italy--(BUSINESS WIRE)--Sep 12, 2018--Increasing transparency demands, regulatory requirements and digital disruption are impacting the Office of Finance. CFOs now have the opportunity to leverage emerging technology to transform huge volumes of financial and operational data into valuable insights. Today, Wolters Kluwer Tax & Accounting announces the CCH Tagetik Analytic Information Hub, a new module that extends the unified CCH Tagetik Finance Transformation Platform with new data management and analytics capabilities that take data-driven business decision making to the next level.

The CCH TagetikFinance Transformation Platform seamlessly brings together corporate performance management (CPM) and granular data analysis and governance into a single platform. With the Finance Transformation Platform, the Office of Finance can efficiently orchestrate multiple financial processes and deliver deep financial and business insights with comprehensive visibility, transparency, control and confidence from start to finish.

Earlier this year, CCH Tagetik added the analytical layer to the Finance Transformation Platform with new data management and analytics capabilities for operational planning and profitability analysis. This layer extends traditional financial processes with an open data model, unlimited dimensionality, powerful mapping and modeling, optimized for fast performance on high volumes of detailed data. CFOs and business leaders have the ability to do integrated business planning, detailed operational planning and perform profitability analysis– all at very granular levels.

Within the analytical layer, the new Analytic Information Hub module expands on these capabilities by now also allowing for the collection, transformation and validation of all kinds of data from any source to create a single financial ecosystem for financial and operational reporting and analysis. The hub is designed to support organizations needing to process vast amounts of data, perform a range of complex analyses, and pull masses of data from multiple source systems.

The Finance Transformation Platform, with the expanded analytical layer now facilitates the digital transformation of finance with:

A finance-owned and governed data ecosystem A unified platform for internal and external financial reporting, operational planning, business modeling, and unlimited ad hoc analyses A 360° view of financial data across the organization, with confidence in data consistency and accuracy Flexibility to support both finance and operational requirements, as well as those of subsidiaries and independent business units A foundation for processing high volumes of data for use in predictive analytics or applications using machine learning or other types of artificial intelligence New business insights that will solidify the CFO as a strategic business partner

According to research by KPMG, CFOs have to think beyond numbers. By taking greater responsibility for the company’s performance and direction, they can truly build upon their role as trusted advisor to the CEO.

“Increasing the speed of insight is the next big thing for the Office of Finance. CFOs must proactively lead enterprise performance by becoming the cornerstone of strategy, finance and analytics,” said Morris Treadway, Global Head of Finance and EPM COE, KPMG. “This requires finance teams to reassess the way they work, the technology they use, and to drive the transformation of their finance systems to deliver the capabilities they need.”

“In this digital age, the Office of Finance must be able to act as the financial and regulatory steward, strategic business advisor, and data steward for the enterprise,” said Marco Pierallini, executive vice president of product, CCH Tagetik, Wolters Kluwer Tax & Accounting. “The combination of financial and analytical capabilities within the Finance Transformation Platform provides our customers with the best of both worlds - all the CPM power and capability that drove their initial investment in CCH Tagetik, plus an analytical layer to extend the scope and impact of CPM by incorporating and governing any level of data into these processes with control and confidence. The Finance Transformation Platform enables a 360 o financial and operational perspective to uncover hidden insights for more informed business decisions.”

To learn more about the new CCH Tagetik Analytic Information Hub, click here; for further details on the CCH Tagetik Finance Transformation Platform, click here.

About Wolters Kluwer

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

CCH Tagetik, a part of the Wolters Kluwer Tax & Accounting division, provides solutions to CFOs for Corporate Performance Management.

Wolters Kluwer reported 2017 annual revenues of €4.4 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY). For more information about our solutions and organization, visit www.wolterskluwer.com, follow us on Twitter, Facebook, LinkedIn, and YouTube.

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CONTACT: Greta Bartoli

CCH Tagetik

+39 058396811 office

greta.bartoli@wolterskluwer.com

or

Nicole Young

Wolters Kluwer

347-931-1055

N.Young@wolterskluwer.com

or

Linda Galloway

insidHR Communications

+1 303 863 8620 office

+1 203 733 7446 mobile

lgalloway@insidhr.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA CONNECTICUT ITALY

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE OTHER TECHNOLOGY PROFESSIONAL SERVICES ACCOUNTING FINANCE

SOURCE: Wolters Kluwer

Copyright Business Wire 2018.

PUB: 09/12/2018 10:00 AM/DISC: 09/12/2018 10:01 AM

http://www.businesswire.com/news/home/20180912005542/en