Autumn release focused on providing the Office of Finance increased control and visibility across planning, forecasting, consolidation, close, reporting and disclosure processes
Tagetik, a leader in global performance management software solutions, furthers its commitment to providing the Office of Finance with a powerful, scalable and intuitive platform for managing financial processes, performance, and reporting. Tagetik's focus on improving collaboration, within and outside the office of finance, was originally highlighted by its innovative Collaborative Disclosure Management (CDM) product that intuitively incorporates collaboration and workflow into disclosure and regulatory reporting processes. CDM is used by several hundred companies for streamlining all kinds of disclosure and regulatory reporting requirements including Solvency II, IFRS and others.
Tagetik customers quickly recognised the value of CDM in streamlining all kinds of internal and external reporting requirements. To extend the reach of the collaborative reporting capabilities of CDM, Tagetik has announced the availability of Collaborative Office. Collaborative Office provides same powerful collaboration and workflow of CDM but without the XBRL engine needed to address some regulatory standards.
With Tagetik Collaborative Office, virtually any report produced using Microsoft Word or PowerPoint can be streamlined. Collaboration, workflow, accountability and an audit trail are embedded right into documents and presentations so multiple people can work in the same presentation or document without conflict. Collaborative Office ensures consistency of numbers, narratives and formatting across all reports and presentations including financial statements, management reports, budget books, board reports, earnings presentations and more. Enhancements in the Autumn 2016 release focus on workflow, visibility, integration and ease of use.
Interactive graphical workflows
A new workflow icon gives any user instant visibility into all of their tasks for any financial process performed within Tagetik's Financial Performance PlatformTM. Users can graphically see all steps in a process with colour-coding of completion status, dependencies, approval chain and more. The intuitive design and the ability to add comments or attachments foster collaboration and transparency from start to finish.
NetSuite customers can now easily incorporate Netsuite ERP data into Tagetik's Financial Performance Platform with packaged integration and mapping of NetSuite dimensions and fact tables.
XBRL data loading
XBRL formatted data can now be loaded into Tagetik. This allows for "apples-to-apples" comparison of operating entities or to peers or competitors that file their financial statements using the XBRL standard.
"Today's finance organisations are tapping into data from more different sources than ever before. We've always focused on an open architecture that easily integrates with virtually any source," said Marco Pierallini, co-CEO of Tagetik. "We've offered pre-configured connectors for multiple SAP and Microsoft sources for many years and adding NetSuite integration is a natural addition as more and more of our customers and prospective customers are adopting cloud ERP solutions."
"A key driver of our product strategy is to continually increase collaboration between business and finance throughout finance processes – not just at the end," said Dave Kasabian, chief marketing officer for Tagetik, "Today's finance organisation needs a solution that delivers ease of use and collaboration in a trusted platform that ensures the accuracy, accountability and auditability that finance needs. That's what Tagetik's Financial Performance Platform delivers."
In early October, Tagetik was positioned as a leader, the highest of four categories, in The Forrester Wave™: Enterprise Performance Management, Q4 2016. The company's "cloud without compromise" strategy continues to win customers seeking cloud-based solutions with comprehensive performance management functionality. Globally, 45% of new customers acquired in Q3 2016 chose Tagetik's cloud-based solutions; in North America, 85% of new Q3 customers chose to implement in the cloud.
Tagetik will host the webinar "Divide and Conquer: A Collaborative Approach to Non-Disruptive Enterprise-Wide Reporting" on Tuesday, November 29, 5pm GMT. To register for this webinar, click here.