Financial Consolidation & Reporting

Tagetik 3.0 delivers consistent, multicurrency and multilevel consolidated financial and budget/forecast data for reporting, eliminating integration challenges, improving financial controls for regulatory compliance and enabling faster closing times and support for globalization. Moreover, the software guarantees consistency across statutory and management reporting and unification of the closing process for each single entity with the group consolidation process.

Tagetik 3.0, thus, improves visibility and transparency, shortens closing and reporting cycles and supports requirements of regulatory changes and compliance issues. Thanks to the unification of processes, Tagetik 3.0 helps you modernize public disclosures and make them more accurate, efficient and interactive, real-time and inexpensive, using a single system with a low Total Cost of Ownership (TCO).

To support the Financial Consolidation process Tagetik 3.0 delivers:

• Chart of accounts and rules: define control groups between main accounts and the related details/variations to be displayed in reports

• Legal entities & hierarchies: define legal entities and possibility to set unlimited hierarchies

• Legal structure: event-based management of the evolution of the legal structure (% of ownership, financial investments variations, net equity variation)

• Automatic/manual data collection: gather data (original gross amounts, IC declarations, pre-consolidation adjustments, …) through automatic interfaces from multiple General Ledger solutions using Tagetik 3.0 ETL built-in process and/or using data entry forms available via web with browser or Excel interface with the possibility to monitor the approvals workflow for each phase

• Decentralized web IC matching process: define groups of accounts for IC matching with relative reconciliation accounts, thresholds and graphical web dashboard for matching between entities

• Data processing: automatic processing of the main consolidation adjustments (IC eliminations, dividends, participations, equity, minority calculation and deferred taxes calculation) with monitoring of the whole process

• Multiple consolidation scenarios and rules: define different scenarios and rules of consolidation for the holding and sub-holding levels starting from the same data collection process

• Currency conversion: processing of currency conversions in the consolidation currency and calculation of the exchange rate difference

• Accounting principles: support of simultaneous generation of multiple consolidations, such as U.S. accounting standards (GAAP) and International Financial Reporting Standards (IAS/IFRS)

• Full auditability: automatic data processing and powerful control audits to ensure complete data traceability

• Data consistency: define control groups between main accounts and the related details/variations to be displayed in reports

• Diagnostic checks to guarantee data consistency during data entry and consolidation processes

• Powerful reporting: manage all financial reporting requirements such as logic for credit/debit signs, creating cash flow statements, total and subtotal calculation, visualization of periodic data (monthly, quarterly, …) and the possibility to generate reports with drill-down capabilities to display further information on original data

• Documenting: management of the reporting book for the automatic generation of narrative documents both in Power Point and Word format (e.g. Notes to the Account, 10Q-10K, …)

• Segment reporting: dynamic on the fly aggregation of data according to the different segment structures defined, very powerful for simulation and ad-hoc analysis (Business Unit, geographic area, …)

• XBRL: Extensible Business Reporting Language for the real-time disclosure of financial data

• Dashboarding: define web-based dashboards to support the analysis

Learn more!

• Find out the Tagetik 3.0 benefits
• Watch the Tagetik 3.0 demo
  
• Hear what customers have to say about Tagetik
  
• Learn more in informative white papers
  
• Read customer case studies