CCH TAGETIK – A BETTER OPTION FOR FINANCE DEPARTMENTS RUNNING SAP
SAP’s key driver is to help organisations adopt leading practices and seamlessly integrate business functions, but what about financial reporting, consolidation, budgeting and forecasting?
SAP for the Finance Organisation
At AIS our finance consulting team have been delivering planning and consolidation projects for almost 20 years using SAP technologies – and so we have experienced both sides of the fence and know all about the divide between Finance and IT departments. Traditionally, IT has always owned the SAP estate and budgeting and consolidation processes have been developed by IT and SAP consultants for Finance.
Now, the Finance department is progressing from its conventional role as a number-crunching function to a department that helps drive business performance. CEOs expect CFOs to be more strategic, business-focused and not solely financial-focus, providing insights not just numbers, which is challenging when too much time is still spent on processing/crunching the numbers. In order to adapt to this changing landscape and carry out this new activity, Finance needs to own its’ planning and reporting systems. The finance function is experiencing a data explosion and needs to use tools to support large data sets, the CFO’s needs software to analyse big data.
Finance requires solutions that are ready for AI and prescriptive forecasting and analytics. It should prepare for analytics and can benefit a lot from the integration with SAP, both the master data structures and the transaction data update automatically, however, finance chiefs don’t want to be tied to this solely for planning and reporting, they want and need the flexibility to introduce some other areas into the equation.
Without going into the detail of the features and functions we can describe CCH Tagetik as a platform that is built for Finance to own and adapt because they can configure the systems themselves and do not require any specific technical expertise. It has all the financial intelligence to carry out budgeting, forecasting, consolidation and reporting.
As the role of finance has become more embedded with operational functions CCH Tagetik has created an operational information layer called the Analytical Information Hub. The hub allows finance teams to work with the information that drives the financials and integrates this information into its planning and performance management processes.
The CCH Tagetik platform bridges the gap for organisations who are adopting a ‘Finance as a Business Partner’ approach, with the integration of operational and financial data being at the fingertips of the finance teams that are increasingly serving the business.
CCH TAGETIK IS A POWERFUL PLATFORM FOR FINANCE AND A GOOD CHOICE FOR ORGANISATIONS RUNNING SAP.
Most SAP Customers will likely want to stay with SAP if they have made a corporate investment in that software so CCH Tagetik and SAP have a partnership which focuses on co-innovation for all business functions.
CCH Tagetik is a SAP Independent Software Vendor (ISV), a SAP 3rd party Partner Program member and a SAP Integration and Certification Council (ICC) member, a “co-innovation” program for developing new applications or integrating with existing applications. These two vendors know that it makes good sense to leverage their combined strengths and will continue with “vendor level integration”. CCH Tagetik on SAP HANA represents the ultimate performance platform for today and the future. SAP HANA’s Technology has the ability to handle both structured and unstructured data which is the key to handling growing amounts of varied data efficiently. SAP HANA is also an ideal platform for predictive analytics along with CCH Tagetik’s, Analytic Information Hub.
From a strategic perspective this means CCH Tagetik will continue investment and improvements to its solutions running on SAP and from a CIO perspective, CCH Tagetik ticks the boxes as an integrated SAP solution. The integration between CCH Tagetik and SAP covers both sides of the SAP software generations, traditional ERP and HANA applications.
For organisations running SAP ECC or traditional SAP ERP, there is tight integration as you would expect from any SAP owned solution. Master data and transaction data flow seamlessly to the CCH Tagetik platform, but Finance has the flexibility to manage its planning and reporting processes.
Businesses can get SAP HANA ready with the unified CPM solution from CCH Tagetik that’s certified ‘powered by SAP HANA’. Connecting finance and operations in one solution, with SAP HANA’s in-memory platform, direct access to data, real-time reporting and analytics, and a foundation for AI Finance has all the financial processes and the information needed to gain better insights and make faster decisions. With the strong SAP relationship, a commitment to a long-term roadmap, extensible platform and extensive partnership network, CCH Tagetik provides the trusted solution for today and the future.
For organisations like Anglian Water and Daimler running SAP HANA applications, CCH Tagetik was the first Corporate Performance Management Platform to be “Powered by SAP HANA” and the evolution in this area is continuing at a considerable pace.
Anglian Water and CCH Tagetik
See how Anglian Water used CCH Tagetik to integrate with SAP but also keep control of their planning and reporting processes.
→ Link to AWG case study.
Daimler and CCH Tagetik