WEBVTT 00:00:06.546 --> 00:00:13.220 CCH Tagetik’s Finance Transformation Platform provides a single product to manage the full end-to-end financial close workflow. 00:00:13.274 --> 00:00:19.315 This starts with matching individual transactions, closing the entity books, and reconciling the ledgers, 00:00:19.349 --> 00:00:24.596 and ends with financial consolidation, statutory disclosure, XBRL and iXBRL. 00:00:24.620 --> 00:00:32.194 A major pain point in the close is to ensure the balance sheet balances are fully reconciled before the numbers are submitted for group consolidation. 00:00:32.218 --> 00:00:34.218 So let’s see this in CCH Tagetik. 00:00:34.815 --> 00:00:44.132 Any controller or process-owner logging into CCH Tagetik has instant transparency into the state of the close and any reconciliations in their jurisdiction. 00:00:44.157 --> 00:00:50.022 In this example, I am the global controller presented with key KPIs alongside a balance sheet view. 00:00:50.046 --> 00:00:56.505 I can choose either to see the data to split by any entity on the dashboard or filter to view a specific one. 00:00:56.530 --> 00:01:04.513 The dashboard has been designed to provide me with key KPIs most relevant to my role, providing real-time insight into the unreconciled balances 00:01:04.538 --> 00:01:13.535 as well as open reconciling items, and those which must be approved and reconciled. The system provides a huge opportunity to save time in the process. 00:01:13.560 --> 00:01:22.183 Here we can see the definition of risk rules, which can be defined either globally or for a specific entity or account. 00:01:22.208 --> 00:01:30.571 The rules can alter the workflow of the account, ensuring that higher risk accounts are submitted earlier in the period, and having additional levels of approval. 00:01:30.596 --> 00:01:37.391 CCH Tagetik can automatically certify accounts with immaterial balances or where these haven’t changed. 00:01:37.416 --> 00:01:47.732 This introduces huge efficiency savings and enables accountants to focus on the review of the account. Let’s look at the process from the reconciler’s perspective. 00:01:47.757 --> 00:01:56.096 Any user assigned to complete or approve reconciliations has a clear line of sight with a homepage that shows them all the reconciliations assigned to them 00:01:56.097 --> 00:02:10.971 as well as some useful KPIs which track performance. I can identify the reconciliation from this form and, with one simple click, I can bring out the template that I want to analyze. 00:02:10.996 --> 00:02:16.549 The coversheet shows all the static and periodic data pulled from the CCH Tagetik database. 00:02:16.574 --> 00:02:25.121 In this example, I’m reconciling a cash account against supporting bank statements. Where relevant I can also automatically match transactions 00:02:25.122 --> 00:02:35.936 using CCH Tagetik’s built-in matching engine and carry out the manual match of the transaction. With one click, I'm able to review the matches found by the two. 00:02:35.961 --> 00:02:42.950 From the review screen, I’m able to review the matches found and, where relevant, unmatch or approve these ones. 00:02:42.975 --> 00:02:52.083 By matching at the transaction level, I can save time in the month-end, ensuring that transactions are matched upfront before the balance review occurs. 00:02:52.108 --> 00:03:02.650 Finally, CCH Tagetik’s web-based, Excel-like forms provide huge flexibility to create reports on any aspect of the process with drill-through to the details where relevant. 00:03:02.675 --> 00:03:11.355 From the IR cockpit, I can view the status of my reconciliation with detailed information on the reconciliation status for all accounts. 00:03:11.380 --> 00:03:23.596 At the transaction-level, I can open the Transaction Matching Cockpit, which provides key information on the status of my matching by different matching sets and allows me to match the data where necessary. 00:03:23.621 --> 00:03:33.000 CCH Tagetik is the only vendor that can provide an end-to-end financial close solution that’s designed to be owned by finance as part of a single transformational platform.