CCH® Tagetik Company Profile

Background

Overview

CCH® Tagetik, a subsidiary of Wolters Kluwer, is a global leader in Corporate Performance Management (CPM) solutions. Established in 1986 as Tagetik in Lucca, Italy, the company specializes in providing comprehensive software solutions that streamline financial processes, enhance reporting accuracy, and support strategic decision-making for finance professionals worldwide. In 2017, Tagetik was acquired by Wolters Kluwer, a Dutch multinational company known for its information services and software solutions across various professional sectors.

Mission and Vision

CCH® Tagetik's mission is to empower finance departments with innovative, AI-driven CPM solutions that integrate financial and operational data on a single, intelligent platform. This integration enables organizations to achieve digital transformation, optimize financial performance, and navigate complex regulatory environments effectively. The company's vision is to be the trusted partner for CFOs and finance professionals, delivering solutions that drive business growth and operational excellence.

Primary Area of Focus

CCH® Tagetik focuses on delivering end-to-end CPM solutions that encompass financial close and consolidation, financial and operational planning, reporting and disclosure management, regulatory compliance, and advanced analytics. By unifying these processes, the company aims to provide a seamless experience that enhances efficiency, accuracy, and strategic insight for finance teams.

Industry Significance

As a recognized leader in the CPM sector, CCH® Tagetik has been consistently acknowledged by industry analysts for its comprehensive functionality and customer satisfaction. The company's solutions are utilized by over 1,000 customers globally, including prominent organizations such as Fiat Chrysler, Henkel, and John Hancock-Manulife. This widespread adoption underscores the company's significant impact on the financial management landscape.

Key Strategic Focus

Core Objectives

Digital Transformation: Facilitate the digitalization of financial processes to improve efficiency and decision-making.

Regulatory Compliance: Ensure adherence to global financial regulations, including IFRS 17 and ESG standards.

Operational Excellence: Enhance financial and operational planning capabilities to drive business performance.

Specific Areas of Specialization

Financial Close and Consolidation: Streamline the financial closing process to reduce cycle times and improve accuracy.

Budgeting and Forecasting: Provide tools for comprehensive budgeting, planning, and forecasting to support strategic initiatives.

Regulatory Reporting: Offer solutions for compliant and auditable reporting, including ESG disclosures.

Key Technologies Utilized

Artificial Intelligence (AI): Incorporate AI-powered predictive intelligence to enhance forecasting and decision-making.

Cloud Computing: Leverage cloud-based platforms for scalability, security, and accessibility.

Data Integration: Utilize connectors to integrate with various data sources, including Microsoft Power BI, SAP, and Qlik.

Primary Markets Targeted

Global Enterprises: Large organizations seeking integrated financial management solutions.

Regulated Industries: Sectors requiring stringent compliance with financial reporting standards.

Public Sector: Government entities needing transparent and efficient financial processes.

Financials and Funding

Funding History

In July 2014, Tagetik secured $36 million in outside funding to support its growth and expansion initiatives. Following its acquisition by Wolters Kluwer in 2017, CCH® Tagetik has been integrated into Wolters Kluwer's financial structure, with specific funding details not publicly disclosed.

Recent Funding Rounds

Specific details regarding recent funding rounds post-acquisition are not publicly available.

Notable Investors

Prior to its acquisition, Tagetik's investors included private equity firms and venture capitalists who supported its growth and product development. Post-acquisition, CCH® Tagetik operates under the financial backing of Wolters Kluwer.

Intended Utilization of Capital

The capital raised and integrated into Wolters Kluwer's resources is utilized to enhance product development, expand market reach, and support the continuous innovation of CCH® Tagetik's CPM solutions.

Pipeline Development

Key Pipeline Candidates

CCH® Tagetik continually develops and refines its suite of CPM solutions to address evolving market needs and regulatory requirements. Specific details about upcoming products or features are typically disclosed through official company announcements and product release notes.

Stages of Development

The company's solutions undergo rigorous development stages, including research, design, testing, and deployment, ensuring they meet the highest standards of quality and compliance.

Target Conditions

CCH® Tagetik's solutions are designed to address complex financial processes, regulatory compliance challenges, and the need for integrated financial and operational planning across various industries.

Anticipated Milestones

Milestones are achieved through regular product updates, customer feedback integration, and alignment with global financial standards, with specific timelines communicated through official channels.

Technological Platform and Innovation

Proprietary Technologies

CCH® Tagetik Intelligent Platform: An AI-powered platform that integrates financial and operational data, providing real-time insights and predictive analytics.

Significant Scientific Methods

Predictive Analytics: Utilizing AI and machine learning algorithms to forecast financial trends and inform strategic decisions.

Data Integration Techniques: Employing advanced methods to seamlessly integrate data from various sources, ensuring accuracy and consistency.

Leadership Team

Key Executives

Ralf Gärtner: Senior Vice President and General Manager of Corporate Performance Solutions at Wolters Kluwer, overseeing the strategic direction and growth of CCH® Tagetik.

Professional Backgrounds and Contributions

Ralf Gärtner: With extensive experience in corporate performance management, Ralf has been instrumental in driving innovation and customer satisfaction within CCH® Tagetik.

Leadership Changes

Specific details regarding recent leadership changes are not publicly disclosed.

Competitor Profile

Market Insights and Dynamics

The CPM market is characterized by rapid technological advancements, increasing regulatory complexity, and a growing emphasis on data-driven decision-making. Organizations are seeking integrated solutions that offer real-time insights, scalability, and compliance with global standards.

Competitor Analysis

Anaplan: Offers cloud-based planning and performance management solutions, focusing on connected planning across various business functions.

Oracle Hyperion: Provides enterprise performance management applications, including financial consolidation, planning, and reporting.

SAP BPC: Delivers business planning and consolidation solutions, integrating financial and operational planning processes.

Strategic Collaborations and Partnerships

CCH® Tagetik has established strategic partnerships to enhance its offerings:

NTT Data Locus Telecommunication: Collaborated to bring CPM solutions to businesses in Thailand, expanding its presence in the Asia Pacific region.

Operational Insights

CCH® Tagetik differentiates itself through its AI-powered platform, comprehensive functionality, and commitment to customer satisfaction, maintaining a strong competitive position in the CPM market.

Strategic Opportunities and Future Directions

The company continues to focus on expanding its global footprint, enhancing product capabilities, and addressing emerging market needs, positioning itself for sustained growth and innovation in the CPM sector.