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A soft or flash close in CCH Tagetik refers to the ability of closing the books using an abbreviated closing procedure outside of the GL world. With this functionality

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the finance department can issue financial statements very quickly and well before the actual close so that management can access the company well-being

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and take actions sooner rather than later. Let's take a quick look. Through a familiar to do list approach, entity owners have perfect

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visibility into all of the activities that they have to perform for their soft close. First, it will be importing all of the data as is from their GL.

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This however could be incomplete, think for instance about all of those external subsystems that would take days before they make the cut to the GL,

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such as depreciation or payroll data. With CCH Tagetik finance departments will be able to tap into those data source systems, independently 

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and without the need of IT, to simply just upload and select the information that they want to pull over from the subsystem through

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a very familiar drag and drop approach. Also, through a set of specific rules, end users will be able to transform their intra month

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aggregated trial balance, into a very detailed pro-forma soft financial statement, where net sales revenue data

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has been probably broken out by product, employee expenses which were totally missing in the GL initial upload, have been imported by the source system 

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at the most granular level of detail, and also overhead expenses have been allocated down at the department level for a management view, 

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with the ability to always see all the details of the allocation entries. Through this approach it will always be possible to compare the data coming from 

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the actual close at the end of the month or at the end of the quarter with the soft closed data, in order to understand any difference

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or discrepancy between the two versions of the data and potentially also identify any constant bottleneck of our official monthly close process.