CCH Tagetik, part of Wolters Kluwer Tax & Accounting and a leader in global performance management software solutions, has been named a Leader in the 2020 Gartner, Inc. Magic Quadrant for Cloud Financial Planning and Analysis Solutions 1. The annual report evaluated vendors for completeness of vision and ability to execute providing an overview of the capabilities available in the market. CCH Tagetik improved its position from last year’s placement on the ability to execute axis.
“We believe that our recognition by Gartner marks another significant step in our journey to transform CFOs beyond finance and into a natural role as trusted strategic advisors to the business,” said Ralf Gärtner Senior Vice President & GM Corporate Performance Solutions, Wolters Kluwer Tax & Accounting. “Now more than ever, our customers are looking for agility and have adopted our comprehensive planning & analysis capabilities in order to deliver meaningful data and insights, expanding the breadth of planning beyond traditional finance to move their respective businesses forward. We will continue to invest heavily in advanced technologies such as AI and machine learning through embedded predictive analytics that accelerate decision-making with our expert solutions. We are very proud of our recognition from Gartner.”
Greg Leiter, Sr. Director Analyst and Robert Anderson and John Van Decker, VP Analysts wrote in the Magic Quadrant for Cloud Financial Planning and Analysis Solutions that, “By 2024, Gartner expects FP&A to evolve to encompass xP&A, a strategy where the “x” denotes the breaking down of the traditional silos separating enterprise financial and operational planning processes in order to deliver new levels of transformative business value. The “x” also represents consistent and continuous planning that extends beyond the finance domain into other areas of enterprise planning and analysis”. In addition, they also wrote, “By 2024, 70% of new artificial intelligence projects in the finance domain will be deployed using out-of-the-box functionality”.
Many of the world’s largest and fastest growing global enterprises are leveraging CCH Tagetik to evolve their FP&A and xP&A processes. Our unified platform, powered by the Analytic Information Hub, connects finance and operations driving speed and agility by aligning and connecting all plans, data and processes. Organizations are empowered to harness large amounts of granular and operational data in a single solution for improved collaboration in budgeting, planning, scenario modeling and forecasting.
In the words of Eugene Bang, FP&A Manager, Sumitomo Rubber North America, “Leveraging CCH Tagetik for the entire planning cycle has helped Sumitomo Rubber North America to shift our focus away from non-value added tasks and towards meaningful insights. Before this solution, our team used to spend an entire week modelling headcount and payroll. Gathering the data, checking for errors, and general communication consumed most of that time. Now, this effort has been reduced to one day. Data collection, validation, and communication take a fraction of that day. The majority of our efforts are focused on the forecasts themselves, rather than manual errors. We can readily see how our projections compare to our actuals, how reasonable the projections are, and what adjustments we need to make.”
CCH Tagetik was also named a Leader in the last 2019 Magic Quadrant for Cloud Financial Close Solutions 2.
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