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
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
