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Corporate performance management software from Tagetik manages complex financial, statutory and management consolidation processes in a single structured and controlled environment that assures consistency across financial, statutory and management reporting.
As a result, Tagetik 4 improves visibility and transparency, of the financial, statutory and management consolidation process, shortens closing and reporting cycles, supports requirements of regulatory changes and manages multiple accounting standards, reducing Total Cost of Ownership (TCO) and cycle time of the entire consolidation and reporting process.
During our more than 20 years of delivering statutory, legal and management consolidation software solutions to our customers, we have continually added specific functionality to improve the ability to effectively manage the complete close, consolidation and disclosure consolidation process from start to finish.
Currency conversion: enter or load data in virtually any local currency and easily see currency and exchange rate differences and impact on consolidated actuals.
Accounting principles: Generate multiple, simultaneous consolidations for U.S. accounting standards (GAAP), XBRL, and International Financial Reporting Standards (IAS/IFRS) from a single data source without having to run multiple consolidations.
Decentralized web intercompany (IC) matching process: Define groups of accounts for intercompany (IC) matching with relative reconciliation accounts, thresholds and graphical web dashboard for matching between entities from within a built “IC Cockpit”.
Full auditability: Ensure complete data traceability from ERP to final reporting and disclosure, with automatic financial intelligence, powerful controls and validations, and detailed audit trails.
Automatic/manual data collection: Gather data, do intercompany (IC) matching, create pre-consolidation adjustments, add manual entries and monitor approvals workflows for each phase all in a single solution.
Controls and Diagnostics: At each step of the process from data entry to consolidation and reporting, by using automatic financial controls, validations checks, and balances.
Powerful reporting: Manage all financial reporting requirements, including pre-built logic for credit/debit signs, double-entry logic for creating cash flow statements, automated rounding and scaling, and drill-down capabilities for reporting and analysis at all levels of detail.
Segment reporting: Aggregating data “on the fly” by defined segment structures allows for simulation and ad-hoc analysis without frequent consolidation. Designed to allow autonomy at the segment level while meeting corporate requirements.
"Statutory and Management Consolidation" is part of the Tagetik 4 line of products, developed by Tagetik.
Tagetik 4 is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.