End-to-end solution drives speed, consistency, and transparency across all accounts in one finance-owned, unified platform; leverages company-wide data and standardized methodologies to accelerate financial close
STAMFORD, Conn. and LUCCA, Italy, Oct. 29, 2020 /PRNewswire/ -- October 29, 2020 – CCH Tagetik, part of Wolters Kluwer Tax & Accounting and a global provider of market-leading software solutions and information services for finance professionals, today announced general availability of new account reconciliation capability further accelerating the financial close process.
The CCH Tagetik Finance Transformation platform, powered by the Analytic Information Hub, offers an end-to-end solution that centralizes all granular financial and operational data ensuring consistency across processes. Finance departments benefit from a comprehensive, flexible solution including close & consolidation, planning and analysis, reporting, disclosure, iXBRL, and now with account reconciliation in one trusted, unified solution.
"We are focused on continuous innovation resulting on a robust portfolio roadmap to enable the office of finance for the future. Through this latest automation, we enhanced our expert solution in the areas of close, consolidation, and account reconciliation. As a result, our customers can now execute a much faster close, increase transparency and take control of their business," said Ralf Gärtner, Senior Vice President and General Manager of Corporate Performance Solutions, Wolters Kluwer Tax & Accounting.
"It has been very difficult to develop a consistent model and process to gather and reconcile each company's balance sheet," said Jeffrey Finch, CFO at EVAPCO. "The vast quantity of information and challenges with a multi-language group has been challenging to manage. Extending our use of CCH Tagetik to cover account reconciliation in addition to consolidation and lease accounting will positively affect our close process. By using a common platform with consistent rules, we should be able to gather the reconciliations and review them in a consistent and timely manner driving more accuracy in our reported financial statements."
CCH Tagetik Account Reconciliation is an out-of-the box, pre-packaged solution with built-in process monitoring, detailed audit trail and mandatory approval workflow to eliminate errors and give complete control. With this add-on capability, the CCH Tagetik Finance Transformation platform now provides automatic reconciliation, review, and resolution of balance sheet accounts, creating consistency across all accounts through harmonized, company-wide data and standardized methodologies. Instead of spending hours investigating a discrepancy and manually reconciling, this newest released solution flags high-risk items instantly, automating processes and freeing up time for value-added tasks.
To have more information about the CCH Tagetik Account Reconciliation check here the dedicated webpage.
About Wolters Kluwer
Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technologies and services.
Wolters Kluwer reported 2019 annual revenues of €4.6 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).