Wolters Kluwer Unveils AI-Powered CCH Tagetik Intelligent Platform to Revolutionize Corporate Performance Management
Wolters Kluwer, a leading global provider of information, software, and services for professionals, has announced the launch of its AI-powered CCH Tagetik Intelligent Platform. This innovative platform aims to transform the efficiency, accuracy, and strategic capabilities of the Office of the CFO, marking a significant advancement in Corporate Performance Management (CPM).
Ralf Gärtner, Senior Vice President & General Manager of CPM Solutions at Wolters Kluwer, emphasized the groundbreaking nature of the platform: “We are the first to bring to market an intelligent, AI-empowered platform that enhances an entire suite of CPM solutions. We know that GenAI has the potential to enable finance leaders to deliver financial close and planning cycles fifteen times faster than at present, and we are harnessing that power for our clients. CCH Tagetik Intelligent Platform’s new, state-of-the-art AI functionality empowers CFOs to unlock the answers they need from their data in a fraction of the time to make better informed, faster, strategic decisions.”
Key AI-Enabled Capabilities
The CCH Tagetik Intelligent Platform integrates cutting-edge AI capabilities to empower finance professionals by democratizing access to financial data, managing vast datasets with unprecedented speed, unlocking hidden insights, and expediting decision-making processes. The platform’s new features include:
- Ask AI: Dubbed the “GenAI ally,” this functionality enables users to receive real-time, visual responses to both text- and voice-based natural language queries. It is designed to drive efficiencies, allowing users to allocate ten times more resources to value-adding activities such as analytics, decision support, and innovation.
- Intelligent Analytics: This feature enables self-service reporting, analytics, dashboarding, and visualization. Users can rapidly search through organized information sets to uncover accurate answers to everyday business questions.
- AI Automapping: This tool accelerates data collection and ensures data governance, while AI Anomaly Detection maintains data integrity by identifying and flagging unusual or abnormal data patterns.
- Intelligent Disclosure: This capability dynamically integrates financial, non-financial, and ESG consolidated numbers with narratives into data-linked reports, ensuring that documents such as annual filings, board books, and management presentations are always accurate.
- AI Driver-Based Analysis: This feature helps users analyze large datasets quickly to identify key business drivers and areas of exponential growth.
These new capabilities build on the platform’s existing features, such as Predictive Intelligence and Transaction Matching, which enable users to create explainable, insight-driven predictive forecasts and accelerate data reconciliation.
Transforming the Office of the CFO
The AI-powered CCH Tagetik Intelligent Platform is designed to serve and drive the continued digital transformation of the Office of the CFO. By integrating these advanced AI capabilities, Wolters Kluwer aims to enhance the strategic decision-making process, reduce the time required for financial close and planning cycles, and improve overall efficiency.
The platform’s capabilities were a central focus at this week’s CCH Tagetik inTouch Global User Conference. Attendees were introduced to the innovative functionalities and saw firsthand how the platform can transform financial operations.
Industry Impact and Future Prospects
Wolters Kluwer’s commitment to investing in AI technologies is evident through the first-to-market innovations within the CCH Tagetik Intelligent Platform. The company’s focus on harnessing AI to elevate the value provided by finance leaders aligns with broader industry trends toward digital transformation and data-driven decision-making.
The introduction of AI-driven solutions like Ask AI, Intelligent Analytics, and AI Automapping represents a significant step forward for corporate performance management. Moreover, these tools not only enhance the efficiency of financial processes but also provide deeper insights and more accurate data analysis, which are critical for strategic planning and growth.
About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions, and services for professionals in various sectors, including healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, corporate performance, and ESG. The company reported annual revenues of €5.6 billion in 2023 and serves customers in over 180 countries. Additionally, it operates in more than 40 countries with approximately 21,400 employees.worldwide.
For more information about Wolters Kluwer and its innovative solutions, visit Wolters Kluwer and follow the company on LinkedIn, Facebook, YouTube, and Instagram.
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