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Wolters Kluwer and EY US Extend Strategic Alliance to Help Companies Accelerate Digital Transformation
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Wolters Kluwer has expanded its strategic alliance with EY, enhancing the CCH® Tagetik Corporate Performance Management (CPM) solution for large financial transformations. This collaboration aims to streamline financial processes, boost productivity, and ensure regulatory compliance. The CCH® Tagetik platform offers features such as automated workflows, built-in financial intelligence, and simplified processes. EY plans to implement this technology across additional global markets, emphasizing its commitment to driving client financial transformation initiatives efficiently.
Positive
Expansion of the strategic alliance with EY, enhancing service offerings.
CCH® Tagetik platform enables improved productivity and efficiency.
Increased market reach as EY plans to implement technology in more global markets.
Negative
None.
EY will leverage Wolters Kluwer CCH® Tagetik Corporate Performance Management (CPM) solution to help companies streamline financial processes, integrate business planning, and drive regulatory compliance
NEW YORK--(BUSINESS WIRE)--
Wolters Kluwer, a global leader in professional information, software solutions, and services, today announced that it has expanded its strategic alliance with Ernst & Young LLP (EY US). EY US will now utilize the Wolters Kluwer market-leading CCH® Tagetik Corporate Performance Management (CPM) solution to support large financial transformations.
The EY- CCH® Tagetik Alliance offers extensive support to large financial transformations, covering a broader set of digitally enabled services on a single platform for financial data and operational planning. The CCH® Tagetik platform intuitive interface, built-in financial intelligence, and automated workflows allow teams to complete typical finance processes efficiently. The pre-built solutions addressing major financial regulations also simplify the compliance process.
CCH® Tagetik goes beyond traditional CPM solutions to deliver:
Productivity improvements, reduced financial close cycle, and increased benefits from automation in CPM cloud tools
Simplified processes, clear visibility, and built-in compliance for the finance departments
Faster completion of everyday processes so teams can focus on their strategic goals through better insights
Taylor Adams, Data and Analytics – Finance Partner with EY US, says: “Our use of the Wolters Kluwer CCH® Tagetik expert solution positions EY teams to play an invaluable role in driving the speed and efficiency of our client’s financial transformation initiatives. Together, we will make great strides in leading the automation of workflows that integrate financial, strategic, and operational goals and drive improved business outcomes.”
EY’s operations in Italy and Belgium started using CCH® Tagetik earlier this year, and the company expects to introduce the market-leading technology to additional global markets.
Ralf Gaertner, Senior Vice President & General Manager, CCH® Tagetik at Wolters Kluwer, says:
“The continued expansion of our strategic alliance with EY underscores the Wolters Kluwer commitment to bringing the full value of our extensive portfolio of solutions and services to advance our clients’ global strategies and goals. By combining the comprehensive CCH® Tagetik platform with EY’s deep financial sector expertise, we can support EY in its commitment to build a better working world by helping businesses drive growth, efficiency, and productivity.”
About EY
EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.
Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform, and operate.
Working across assurance, consulting, law, strategy, tax, and transactions, EY teams ask better questions to find new answers to the complex issues facing our world today.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data, and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.
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 advanced technology and services.
Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,200 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).
What is the significance of the Wolters Kluwer and EY strategic alliance for WTKWY investors?
The expansion of the strategic alliance with EY enhances service offerings, potentially increasing revenue opportunities for Wolters Kluwer (WTKWY).
How does the CCH® Tagetik improve financial processes?
CCH® Tagetik streamlines financial processes with automated workflows and built-in compliance features, which can lead to cost savings and efficiency gains.
What markets will EY introduce CCH® Tagetik to?
EY plans to implement the CCH® Tagetik solution across additional global markets, expanding its usage beyond Italy and Belgium.
How does the CCH® Tagetik platform enhance compliance?
The platform simplifies compliance processes by addressing major financial regulations with pre-built solutions.
