FinanceDecember 14, 2023
Wolters Kluwer CPM solution, CCH® Tagetik, adopted by Ricoh
Wolters Kluwer, a global leader providing professional information, software solutions, today announced that its CCH Tagetik corporate performance management (CPM) solution has been selected by Ricoh Company, Ltd. (Head Office: Ota-ku, Tokyo; Representative Director, President & CEO: Akira Oyama; hereinafter "Ricoh") as one of the platforms it will use to facilitate return-on-invested-capital (ROIC) management.
Ricoh aims to enhance fast-track business execution by using forecasts of future business and financial results, rather than past business and performance analysis, to quickly identify changes in the business environment. To achieve this aim, Ricoh continuously promotes company-wide ROIC management, and continues to optimize the allocation of management resources. Ricoh will use the CCH Tagetik CPM platform to more fully implement ROIC management processes, enterprise-wide, by replacing its legacy closing and consolidation solution and its internally developed budget management system.
The CCH Tagetik platform’s intuitive interface, built-in financial intelligence and automated workflows empower finance and management teams to:
- Access real-time, enterprise-wide visibility into financial and business metrics
- Complete everyday financial processes, faster, so they can focus on strategic goals
- Improve productivity and reduce financial close cycle time
- Streamline, integrate and visualize its operations and management reports
- Make faster and better-informed financial decisions
- Ensure its data-driven approach to management continually keeps pace with and responds to changes in the external business environment.
Mr. Takashi Kawaguchi, Director CFO & Executive Corporate Officer, Ricoh, said:
"At the Ricoh Group, as we enhance our CPM platform and restructure our system infrastructure as digital services company, we are using a variety of financial and non-financial key performance indicators to drive growth. To realize data-driven management, we need to implement long-term, strategic initiatives involving each business unit (BU). We aim to enhance the quality of those long-term initiatives by monitoring figures and metrics that become growth factors, with each BU implementing business management with attention to the ROIC of the entire company and for each of their respective businesses.”
Mr. Yoshinobu Hamanaka, General Manager Corporate IT Management Center Digital Strategy Division, Ricoh said:
"CCH Tagetik meets all of Ricoh's CPM solution requirements, by integrating all information required for ROIC management, consolidation and budget management, from analysis to reporting, on a single platform.
We will make full use of CCH Tagetik's functionality to achieve our business management goals."
Kumiko Minowa, Japan Managing Director of CCH Tagetik at Wolters Kluwer, added:
"CCH Tagetik, which collects and reports a large amount of detailed financial and non-financial data and enables data analysis along a variety of axes, is the optimal CPM solution for the increasing number of global companies that want to implement ROIC management. Wolters Kluwer will continue to support Ricoh's continued growth by providing advanced technologies that accelerate its digital transformation."
About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.