CONSOLIDATION – HSolutions

Consolidation and financial close

CCH Tagetik consolidates figures in real time from multiple journals fast and reliably in one unified system. CCH Tagetik automatically connects all the financial processes thru organisation levels even if the enterprise is a global organisation which operates using multiple currencies, interest and exchange rates, complicated entity hierarchies and has numerous demands for data quality and validity. If you are looking for a complete system to manage your consolidation, financial close process (Balance sheet, P&L, statement of cash flows) and intercompany elimination needs, CCH Tagetik is the right solution for you.

We know that financial close process can be complicated, time consuming and delicate process. That is why CCH Tagetik solution offers strong automatization, processes to guide workflows together with robust and detailed audition possibilities including log information to give you newest tools to help you to bring your close and consolidation process to answer the demands of present day. With CCH Tagetik you will be able to control the financial perplexity of your enterprise – to be able to create your financial statements and reports faster than before for which ever entity or entity level you desire.

The key features of the CCH Tagetik consolidation solution are:

Consolidation Cockpit: CCH Tagetik has a cockpit specially designed for close and consolidation process. This cockpit gives you the means to monitor each consolidation process and analyse the end results thru consolidation engine. Cockpit also show which steps are needed and in which section of consolidation process those should be performed.

Intercompany Cockpit: The IC cockpit in CCH Tagetik allows you to monitor all the transactions, match entities using graphical interface and define account groups and thresholds.

Multi- GAAP & IFRS: Perform multiple GAAP or IFRS adjustments on the same data. All the changes are saved in an easily auditable form for IFRS, IAS, local or US GAAP and all data is effortlessly retraceable back to its original source.

Multiple currencies, exchange and interest rates: The CCH Tagetik can handle all conversion types and perform consolidation and close using preferred currency. All the exchange and interest rate changes are saved into the system so that profits and losses can be examined using different scenarios.

Calculation engine and complex rules: You can define multiple consolidation scenarios and rules for different level to gather consolidation information. You are able to use automated calculation logics: minority interest, equity validation, elimination of financial investments, deferred tax calculation and many more.

Data validation and presentation: With diagnostic checks and automated validations you can ensure the integrity of the data you are importing to the system during ETL and consolidation process. After validation data can be finalized and locked which means that data can no longer be altered.

Other features of the CCH Tagetik consolidation solution include:

Self-service reporting and analytics: Create reports, visual analytics and dashboards without IT department. Perform complex calculations and create dynamic pivot tables to quickly analyse data with no delay.

Microsoft Office: CCH Tagetik integrates seamlessly with Microsoft Office products and supports multiple formats like PDF, PPT, HTML, and XML.

Collaboration tools: Multiple persons can work concurrently with the system and automatically populated data. Communication tools include: IM, share, comment and send for approval.

Audit trail and workflow: All the changes to data: by who, what and when are stored to the system. Organisation wide task list, status and approval process.

Unified CPM solution: Create agile end-to-end process which brings together budgeting, modelling, forecasting, consolidation and financial reporting in one unified CPM solution.