CCH Tagetik SII PPS
Vendor Description
Wolters Kluwer enables finance, legal, tax, and healthcare professionals to be more effective and efficient. They provide information, software, and services that deliver vital insights, intelligent tools, and the guidance of subject-matter experts.
Tagetik was initially founded in 1986 as a local consultancy based in Lucca, Italy. The Tagetik brand was launched in 2005 and has since earned a reputation for delivering the most trusted, comprehensive, and scalable Corporate Performance Management solutions available. It was acquired by Wolters Kluwer in 2017 and rebranded as CCH Tagetik.
The CCH Tagetik Finance Transformation Platform, powered by the Analytic Information Hub, is a unified platform that connects finance and operations and streamlines the consolidation & close, planning, reporting & analytics, disclosures and compliance.
Vendor Capabilities
In addition to Solvency II, Wolters Kluwer’s CCH Tagetik product provides a number of capabilities, including:
CCH Tagetik provides a highly sophisticated consolidation solution that can address multi-entity challenges of global organisations.
CCH Tagetik’s planning solution brings together granular financial and operational data combined with driver-based modelling to deliver sophisticated planning requirements.
CCH Tagetik Lease Accounting software is a pre-configured starter kit that provides a lease accounting hub including data repository, calculation modelling, reporting, disclosures and workflow.
CCH Tagetik IFRS17 is a pre-configured starter kit that provides the functionality to comply with IFRS17’s requirements – including general measurement, premium allocation, and variable fee models. Read more…
CCH Tagetik’s pre-built account reconciliation solution automatically reconciles accounts and provides alerts, templates and ageing views to standardise processes.
CCH Tagetik Collaborative Office integrates with Microsoft Office to create financial, statutory, management reports and disclosures including the automation of all checks and balances, while normalising and validating data.
CCH Tagetik SII PPS
by CCH Tagetik
Key Features
- EIOPA, Lloyd's of London and a selection of NSTs
- Fully integrated with Microsoft Excel for data entry and reporting
- Customisable business validations
- End-user report writer
- Configurable visual workflow for user and approvers
- Full consolidation functionality
- Upstream system integration capability
- Pillar 1 standard formula
- Integrated collaborative disclosure management tool for RSR and SFCR
- Cloud or on-premise deployment
Product Description
CCH Tagetik’s Solvency II pre-packaged solution (or PPS) is a cloud or on-premise solution for Solvency II Pillar 1 and 3. It’s a feature-rich solution well suited to all insurers, big and small. It is suitable as a standalone tool or as an extension to its unified Finance Transformation Platform for existing CCH Tagetik customers.
As a browser-based application with seamless Microsoft Excel, Word and PowerPoint add-ins, it is both intuitive and highly customisable. Through the HTML browser, visual workflows can be customised to suit individual business processes.
CCH Tagetik caters for EIOPA, various jurisdictional requirements, and even Lloyd’s Solvency Reporting. Information can be prepared at a sub-entity or solo level and consolidated up to a group position.
Included is a powerful ETL capability to load data from any source system. Additionally, pre-built data entry forms can replicate QRTs and be accessed via the browser or Excel.
Read more...
Pre-configured blocking and non-blocking validations replicate the taxonomy validations at point of entry and prevent locking of invalid data. Where these validation warnings and errors occur, CCH Tagetik offers full drill-down capability so that the exact cause and effect can be analysed. Rejections, submissions and approvals provide flexible control over the data capture process .
The PPS solution includes the full range of QRT and NST reports, formatted and notated according to the regulatory specifications. In addition, CCH Tagetik provides a range of other useful reports, including validation reports and QRT technical specifications. Users can create their own reports using CCH Tagetik’s powerful Excel-integrated report writer.
The application offers powerful audit features with all user activity, data and system changes being logged. Further, a combination of system roles and rights can be used to restrict users in any multitude of ways including by entity and by task. Some users may prepare data, others may only review or approve data.
CCH Tagetik’s Collaborative Office provides a powerful Word-integrated disclosure management tool for narrative reporting such as the SFCR. This extension allows businesses to develop reports using a templated approach including concurrent multi-user collaboration.
Direct integration with the PPS ensures that data is taken directly from the source used to prepare the XBRL submissions. Numbers can be scaled, and adjustments posted with full audit trail, for example to manage casting variances. Validation rules can be applied throughout to ensure absolute integrity. When a new year is to be reported, a user can simply roll-forward the template and refresh the data with just a few clicks of the mouse.
Don’t forget to read our Solvency II Buyer’s Guide.
Product Snapshots
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Download our product factsheet and detailed product specification.
