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Presentation of CCH Tagetik

Introduction

CCH Tagetik is a partially customisable, scalable solution for Corporate Performance Management, Business Intelligence and Enterprise Governance, Risk and Compliance. It incorporates the application processes into a single software, using a single cross-platform technology, a single database and a single user interface.

Functions performed

CCH Tagetik performs the following functions:

  • It integrates and automates the running of performance management processes (budgeting and forecasting), financial planning, working capital analysis, consolidation, strategy management, profit analysis, financial and regulatory reporting.
  • It ensures that accounting data remains transparent and traceable, to fulfil compliance requirements.
  • Manages financial governance.

Processes managed by CCH Tagetik

To perform these functions, CCH Tagetik uses a number of processes.

Budgeting, Planning and Forecasting

These processes allow full data traceability, reduce manual intervention, and link strategic and operational planning. With particular regard to the operational budget, CCH Tagetik manages the budget for human resources, sales, the costs of production and investments (CAPEX) as well as operating costs (OPEX).

Profitability Modelling and Optimisation

CCH Tagetik supports cost allocation and profit analysis processes, by modelling the control structure for costs, assets, resources and their relations. The allocation engine assigns costs and revenues to the control lines (resources and assets), and allocates the indirect costs to the final lines of analysis (customer, product, channel etc). This enables “cascade” allocation cycles to be run. Book values and statistical values can also be processed as the basis for these allocations. The reports give a detailed analysis of profitability, by navigating the profit and loss (P&L) margins through to the individual allocation. CCH Tagetik also allows data analysis through alternative allocation models.

Financial Consolidation

CCH Tagetik allows companies to manage complex statutory and management consolidation processes, and to keep track of intercompany items in a structured environment which is integrated with the planning and budget activities. It guarantees consistency between statutory and management reporting, and integrates the financial closing processes for each legal entity with the group consolidation process. It can manage multiple accounting standards (IFRS, local GAAP etc.) in a single application environment. It shortens the time needed for the closing and production of reports, and thus reduces TCO (Total Cost of Ownership).

Financial, Statutory and Management Reporting

CCH Tagetik creates the reports needed for the various business processes. It manages typical problems such as sign changes, it displays data for the reporting period and does cash flow and totals/subtotals calculations. It also allows you to navigate reports back to the original data, to aggregate data dynamically according to different scenarios, and to produce simulations, obtaining reports by segment.

Dashboard and Scorecard Applications

CCH Tagetik helps companies to define and align their strategy with specific operational targets, and to share the strategy at every level of the organisation. This is possible because the process of defining the strategic variables is managed together with the Financial Corporate Performance Management (FCPM) system. This allows the company to achieve the desired performance, monitor the process, view performance in real time, and analyse them on a dashboard.

Integration with Microsoft SharePoint

In the version integrated with Microsoft SharePoint, CCH Tagetik works in synergy with the Business Intelligence, Communication and Collaboration tools. This gives the company a single portal on which to share documentation, financial and operational data using dynamic graphics.

Native financial processes

The native financial processes of CCH Tagetik, such as consolidation, allocations and financial planning, have all been designed to work with an accounting logic. Whenever a logic or rule is executed, double entry records are generated. This guarantees the inherent reconciliation of accounting data, providing a full audit trail and ensuring compliance with regulatory requirements.

Multi-layer structure

CCH Tagetik works on two layers.

Financial layer

This level of the application consists of all the processes described above, and integrated financial intelligence. It is based on a predefined, non-customisable database: all the processes share the same data modelling (Company, Account, Scenario, Destination etc.) and they work on the same data processing tables and data. The data model and structure can respond to different requirements. For example, it is possible to manage Strategic Corporate Performance Management (SCPM) processes (e.g. HR planning, sales planning) together with regulatory reporting (such as Solvency II, IFRS etc.) and data-based processes (such as profit analysis) all on the same application.

Analytical layer

This level can be customised, and is used for analysis. It allows the mass processing of large quantities of data. The analytical layer can have an unlimited number of dimensions and custom data tables which automatically manage the segmentation of data. On the analytical layer, the various processes are managed in different workspaces, each of which is based on its own dimensions and dataset.

ETL engine

CCH Tagetik also has an ETL (Extract, Transform, Load) engine, across all processes. The ETL engine automates the following actions:

  • it extracts data from any external source such as Excel files, text files, data warehouses, ERP (SAP, Oracle or Microsoft) or from a database of CCH Tagetik
  • it processes extracted data, with aggregation or enrichment options
  • it loads processed data to various data destinations, both internal or external to CCH Tagetik

Note: some of the functions in this manual can only be accessed by specific user roles, and depend on the activated licence.