Wolters Kluwer enables UBE Corporation to drive efficiency through CCH® Tagetik Intelligent Platform

CCH Tagetik platform empowers UBE to digitally transform and standardize its budgeting and planning processes to support global expansion.

Wolters Kluwer, a global leader in providing professional information, software solutions and services, today announced that UBE Corporation (UBE) recently completed the successful implementation of its CCH Tagetik Intelligent Platform. UBE, a leading company in its industry, has embraced the CCH Tagetik platform to enhance data integration and standardization, ultimately improving operational efficiency within its Finance function as it prepares for global expansion.

Kumiko Minowa, Japan Managing Director of CCH Tagetik at Wolters Kluwer, said:
“UBErealizes that in order to thrive in an era of rapidly changing economic conditions, its business decisions must be fueled by accurate forecasting data and analytics – not intuition. UBE’s implementation of the CCH Tagetik platform is already enabling evidence-based digital transformation, companywide. We look forward to continuing to identify new ways that CCH Tagetik can support UBE’s growth and global expansion.”

The Challenge

UBE set a goal to "achieve data-driven business management by 2030," but faced several significant budget planning challenges when trying to attain that goal:

• The company’s concurrent use of a budget management system and Excel prevented unified performance data management and caused significant operational inefficiencies
• Its complex, department-specific cost allocation processes demanded excessive, time-consuming reliance on individual expertise
• Its processes for budget formulation, production planning and profit-and-loss statement preparation were heavily time intensive.

The Solution

After evaluating multiple corporate performance management (CPM) software providers, UBE chose the CCH Tagetik Intelligent Platform to support its budgeting, planning and forecasting needs. UBE selected CCH Tagetik because of its ability to automate data input and aggregation tasks that were previously completed by Excel; its standardized budget planning templates and its ability to scale to cover additional financial processes including close, consolidation, ESG reporting, tax, analytics and more.

Following the recent implementation of the CCH Tagetik platform, UBE is already experiencing positive results, including:  

• Improved efficiency: UBE expects CCH Tagetik to reduce the time it takes to create profit-and-loss statement preparation time by 75%.
• Reduced dependency on individual expertise: CCH Tagetik has standardized UBE’s allocation processes, which were previously organized using department-specific allocation logic. The standardization still provides the UBE team the flexibility to handle exceptions.
• A new technology foundation to support global expansion: As UBE expands internationally, CCH Tagetik is expected to empower UBE’s finance team to monitor overseas group company performance and proactively address future reporting requirements.

Mr. Kenji Yagi, Assistant Manager, DX Promotion Office, UBE Corporation, said:

"Management decisions made without timely information and comprehensive, detailed analysis carry the risk of significant losses. Our implementation of the CCH Tagetik platform will allow us to implement the kind of data-driven business management that enables timely tracking of sales, profits and rapid Plan, Do, Check, Act (PDCA) cycles."

AVANT Corporation, a CCH Tagetik implementation partner, leveraged its wealth of finance and accounting experience to work side-by-side with UBE project leaders to ensure the smooth and efficient implementation of the CCH Tagetik platform.

To learn more, read the full case study about UBE’s successful implementation of the CCH Tagetik Budgeting, Planning and Forecasting platform.