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Financial Governance

Financial governance and the financial consolidation and reporting process are in fact one process. The interdependency between process efficiency improvements in financial controls, auditability, financial close management, related compliance initiatives and financial and regulatory reporting assurance with the financial consolidation and reporting process is increased.

The supervisory board and board of management of organisations and their financial departments should benefit from a solution like Tagetik CPM that supports both processes for financial governance and consolidation.

Key benefits are:

• traceability of adjustments and workflow
• intercompany transaction management at the transaction level
• automatic reconciliations management for e.g. IFRS to local GAAP
• financial controls and compliance
• financial close management unifies closing process with the reconciliation and the compliance processes
• access and segregation of duties controls
• financial risk management to reduce risks or make them transparent
• financial analytics to spot differences and drill down to the details in the general ledger

Supported technologies:
IBM Cognos Controller, Oracle | Hyperion Financial Management,
Oracle | Hyperion Enterprise, SAP | OutlookSoft, Tagetik