Guizhou Guotai Wine Sales Co., Ltd. implements Wolters Kluwer CCH® Tagetik Budgeting and Planning software

CCH Tagetik solution enables the digital transformation of financial analysis

BEIJING, July 29, 2024 /PRNewswire/ -- Wolters Kluwer, a global leader in professional information, software solutions, and services, today announced that Guizhou Guotai Wine Sales Co., Ltd. (hereinafter referred to as "Guotai Sales Company") has implemented CCH Tagetik Budgeting and Planning solution to digitally transform the way it manages and conducts financial analyses of its production, supply and sales processes.

Guizhou Sales Company is a subsidiary of Guizhou Guotai Liquor Co., Ltd, the second largest government-licensed liquor enterprise in Maotai Town. The business has been carefully built over the past 20 years by parent company, Tasly Holding Group Co.

Wang Yang, CIO of Guotai Sales Company, said: "CCH Tagetik Budgeting and Planning software provides us with rapid, integrated access to financial, production, supply and sales data, which empowers our finance team to quickly respond to market changes, identify opportunities to reduce costs and improve our overall efficiency. We are so pleased with the implementation of CCH Tagetik software that we now look forward to expanding its use to other companies within Tasly Holding Group."

Guotai Sales Company now leverages the award-winning CCH Tagetik Budgeting and Planning software to:

• Leverage pre-built financial, production, supply, and sales models to rapidly predict and respond to market changes, while maintaining system scalability.
• Empower budget controllers to shorten financial management cycles, more efficiently monitor budget performance and more accurately manage pre-cost controls.
• Identify opportunities to reduce costs and increase efficiency in business development.
• Support agile decision-making with rapid, detailed access to granular financial data.

Michael Chung, Greater China Managing Director of CCH Tagetik at Wolters Kluwer, said: "CCH Tagetik is playing an essential role in driving the digital transformation of Guotai Sales Company's budget management processes, while helping the company make more agile business decisions. We look forward to continuing to partner with Guotai Sales Company to identify ways that CCH Tagetik can support its continued growth and expansion."

The Guotai brand has won more than 100 awards, including three Brussels International Gold Awards, two Guizhou Top Ten Wine Gold Awards, and the only Gold Award of Chinese Liquor in the 73rd WSWA Spirits Competition in the United States. Guotai has also been nominated for the Guizhou Provincial Governor's Quality Award and has been successfully promoted into the mainstream liquor brand of Moutai-flavor liquor and the first-line liquor enterprise in China.

About Wolters Kluwer

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

Wolters Kluwer reported 2023 annual revenues of €5.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,400 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

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SOURCE CCH® Tagetik, Wolters Kluwer