Tunstall Group implements Wolters Kluwer’s expert CCH Tagetik solution to support financial consolidation and reporting
Wolters Kluwer, a global leader in business information, software solutions and services, announces that Tunstall Group has implemented its CCH Tagetik Financial Close & Consolidation and CCH Tagetik Collaborative Office solutions on the cloud to support financial consolidation and reporting. Tunstall Group has also selected HAYNE as an implementation partner for their project.
In business for over sixty years, Tunstall harnesses technology to help those in need of health care and intervention live independently in the home or group of their choice. The objective is to reconcile independence and reassurance and to provide tailor-made support that meets people’s immediate and long-term needs. Tunstall supports over five million end users worldwide.
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Tunstall was facing challenges before implementing a new consolidation solution. Their legacy system lacked the sophistication and flexibility to handle the increasingly complex consolidation needs of a growing group, and the ability to generate the level of deep knowledge required. The software solution also needed to pull financial and non-financial data directly from ERP and other group systems to improve overall reporting capabilities.
The quality of CCH Tagetik’s expert solution has made it the go-to provider. CCH Tagetik Financial Close & Consolidation and the addition of Collaborative Office will help Tunstall address these challenges and achieve a number of goals:
- Fast and automated: leading to a faster and more controlled month-end closing and consolidation process. Tunstall can now perform trial balance imports, intercompany reconciliations, journals and reports in one platform.
- Improved reporting capabilities: an ability to deal with multiple complexities and produce higher quality reports and a higher level of insight.
- Advanced consolidation intelligence and deeper analysis: extract both granular financial and non-financial data to enable integrated reporting and faster closing.
- Provide additional data: the ability to import additional data using the integrated CCH Tagetik Analytic Information Hub, a revolutionary performance engine that centralizes and quickly transforms large volumes of granular financial and operational data.
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“Adapting a sophisticated, better controlled and faster solution like CCH Tagetik Financial Close & Consolidation and Collaborative Office means we can spend more time drawing conclusions from the data and generating better insights, and we can now integrate much of our reporting with the consolidation tool,” said stephen jones, Group Chief Financial Officer at Tunstall Group. “On top of that, the presence of CCH Tagetik Analytic Information Hub and the ability to import non-financial data such as operational and KPI-related data was a key selling point for us.”
“We are delighted to work with a pioneering company like Tunstall, which uses an expert solution from CCH Tagetik to improve efficiency and understanding of financial and non-financial information in support of its business,” said James McEnteeManaging Director of CCH Tagetik UK.
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