Replacing legacy systems like SAP with CCH® Tagetik
Background
Many banks and insurance entities still rely on legacy solutions such as SAP BPC/FC or Oracle HFM to consolidate financial data and report under frameworks like FinRep, Solvency II, and IFRS.
However, SAP has announced end-of-support for BPC and FC by 2027.
Given that replacing platforms like SAP or HFM is a complex and time-consuming process, it is strongly recommended to start evaluating future-proof solutions now to ensure continuity in meeting regulatory reporting requirements.
CCH® Tagetik consolidation solution
As a native corporate performance management system, CCH® Tagetik provides state-of-the-art consolidation functionality along with innovative AI-driven features that define a modern solution.
Many insurance companies and banks worldwide have successfully migrated from legacy systems like SAP BPC to CCH® Tagetik.
Key benefits
- Quickly manage & consolidate complex organization structures
- Easily calculate minority interest and equity adjustments
- Handle multi-entity consolidations with unlimited hierarchies
- Perform on-the-fly multi-currency conversions
- Address multi-accounting standards
- Ensure compliance with regulatory requirements like Solvency II, FinRep and ESG with CCH® Tagetik’s pre-packaged solutions
- Cloud or on-premise
- Save time with automated intercompany transactions
- Intuitive process-driven consolidation workflow
- Get data governance and complete transparency
Customer stories
Discover how Baloise insurance group has replaced its legacy SAP based Solvency II systems with CCH Tagetik
Learn how Menzis transformed their manual Excel based financial and Solvency II reporting with CCH Tagetik
Explore TVM Insurance’s journey towards optimizing reporting replacing Excel with CCH Tagetik
How we can help
Our experts combine in-depth knowledge of consolidation and regulatory reporting with technical experience implementing CCH® Tagetik.
We can support you with:
- Implementing the CCH® Tagetik consolidation solution
- Providing functional application management services
