2023 Gartner® Magic Quadrant™ for Financial Close and Consolidation Solutions

Following the recognition as a Leader in the 2019 Gartner Magic Quadrant for Financial Close and Consolidation solutions, we're pleased to share that Wolters Kluwer was once again recognized as a Leader in the 2023 Gartner® Magic Quadrant™^* for its CCH Tagetik Financial Close and Consolidation Solution.

Wolters Kluwer’s Ability to Execute and Completeness of Vision are the reasons why it was named a Leader in the report. 

The CCH Tagetik Financial Close and Consolidation expert solution from Wolters Kluwer supports all close processes from data collection to disclosure, including:

• Transaction Matching 
  
• Account Reconciliation
  
• Group Consolidation
  
• Financial & Management Reporting 
  
• ESG & Disclosure Management 
  
• iXBRL  

This AI-based solution extends beyond the limits of traditional financial consolidation software, enabling finance leaders to automate-close adjacent processes while accelerating core processes. What’s more, the solution’s newest functionality, introduced in 2023, empowers users to incorporate corporate tax data, including Global Minimum Tax for BEPS Pillar Two calculations, into their financial close and consolidation processes. 

Through CCH Tagetik Financial Close and Consolidation, Wolters Kluwer:

• Expands the core capabilities of close, consolidation, and reporting to adjacent processes such as ESG, sustainability, tax, and insurance reporting
  
• Innovates transaction matching, anomaly detection, COA mapping, and predictive insights via embedded AI and machine learning
  
• Supports fast implementation timelines even for the largest enterprises

About CCH Tagetik Financial Close and Consolidation

About the 2023 Gartner® Magic Quadrant™ for Financial Close and Consolidation Solutions 

• Leaders: execute well against their current vision and are well positioned for tomorrow.
• Visionaries: understand where the market is going or have a vision for changing market rules, but do not yet execute well.
• Niche Players: focus successfully on a small segment or are unfocused and do not out-innovate or outperform others.
• Challengers: execute well today or may dominate a large segment, but do not demonstrate an understanding of market direction.

<sub>* Gartner® does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

** 2023 Gartner® Magic Quadrant™ for Financial Close and Consolidation Solutions, 27 November 2023, Nisha Bhandare, Permjeet Gale.</sub>