STAMFORD, Conn. and LUCCA, Italy, Oct. 8, 2020 /PRNewswire/ -- CCH Tagetik, part of Wolters Kluwer Tax & Accounting and a leader in global performance management software solutions, has been named a Leader in the 2020 Gartner, Inc. Magic Quadrant for Cloud Financial Planning and Analysis Solutions ¹. The annual report evaluated vendors for completeness of vision and ability to execute providing an overview of the capabilities available in the market. CCH Tagetik improved its position from last year's placement on the ability to execute axis.

Click here for a complimentary copy of the report.

"We believe that our recognition by Gartner marks another significant step in our journey to transform CFOs beyond finance and into a natural role as trusted strategic advisors to the business," said Ralf Gärtner Senior Vice President & GM Corporate Performance Solutions, Wolters Kluwer Tax & Accounting. "Now more than ever, our customers are looking for agility and have adopted our comprehensive planning & analysis capabilities in order to deliver meaningful data and insights, expanding the breadth of planning beyond traditional finance to move their respective businesses forward. We will continue to invest heavily in advanced technologies such as AI and machine learning through embedded predictive analytics that accelerate decision-making with our expert solutions. We are very proud of our recognition from Gartner."

Greg Leiter, Sr. Director Analyst and Robert Anderson and John Van Decker, VP Analysts wrote in the Magic Quadrant for Cloud Financial Planning and Analysis Solutions that, "By 2024, Gartner expects FP&A to evolve to encompass xP&A, a strategy where the "x" denotes the breaking down of the traditional silos separating enterprise financial and operational planning processes in order to deliver new levels of transformative business value. The "x" also represents consistent and continuous planning that extends beyond the finance domain into other areas of enterprise planning and analysis". In addition, they also wrote, "By 2024, 70% of new artificial intelligence projects in the finance domain will be deployed using out-of-the-box functionality".

Many of the world's largest and fastest growing global enterprises are leveraging CCH Tagetik to evolve their FP&A and xP&A processes. Our unified platform, powered by the Analytic Information Hub, connects finance and operations driving speed and agility by aligning and connecting all plans, data and processes. Organizations are empowered to harness large amounts of granular and operational data in a single solution for improved collaboration in budgeting, planning, scenario modeling and forecasting.

In the words of Eugene Bang, FP&A Manager, Sumitomo Rubber North America, "Leveraging CCH Tagetik for the entire planning cycle has helped Sumitomo Rubber North America to shift our focus away from non-value added tasks and towards meaningful insights. Before this solution, our team used to spend an entire week modelling headcount and payroll. Gathering the data, checking for errors, and general communication consumed most of that time. Now, this effort has been reduced to one day. Data collection, validation, and communication take a fraction of that day. The majority of our efforts are focused on the forecasts themselves, rather than manual errors. We can readily see how our projections compare to our actuals, how reasonable the projections are, and what adjustments we need to make."

To read the full complimentary copy of Gartner 2020 Magic Quadrant for Cloud Financial Planning and Analysis Solutions document click here.

CCH Tagetik was also named a Leader in the last 2019 Magic Quadrant for Cloud Financial Close Solutions ².

To learn more about CCH Tagetik go to www.tagetik.com.

¹ Gartner, Magic Quadrant for Cloud Financial Planning and Analysis Solutions by Greg Leiter, Robert Anderson, John Van Decker, October 6, 2020.

² Gartner, Magic Quadrant for Cloud Financial Close Solutions, Robert Anderson, John Van Decker, Greg Leiter, 21 October 2019

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Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technologies and services.

Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

For more information about our solutions and organization, visit www.wolterskluwer.com, follow us on Twitter, Facebook, LinkedIn, and YouTube.

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