CCH Tagetik, part of Wolters Kluwer Tax & Accounting and a global provider of market-leading software solutions and information services for finance professionals, has signed an agreement with Orkla, to effectively support them in replacing their legacy consolidation solution.
Orkla is a leading supplier of branded consumer goods to the grocery, out-of-home, specialized retail, pharmacy and bakery sectors. The Nordic and Baltic regions and selected countries in Central Europe are Orkla’s main markets. The Orkla Group also holds strong positions in selected product categories in India.
The CCH Tagetik unified platform will replace their legacy systems and Orkla will utilize the platform for their statutory consolidation, management, and financial reporting, including IFRS 16 Lease Accounting and iXBRL. Orkla will now have a flexible platform with built-in financial intelligence that is finance owned and maintained where modifications can be done without scripting or relying on IT.
“We are grateful for Orkla’s selection of the CCH Tagetik platform to drive their business-critical consolidation process. This selection adds another key customer in the Nordic region and further demonstrates the global trend we see of legacy system replacements. Customers are tired of the challenges they face because their old solutions don’t keep up with their needs. Luckily, CCH Tagetik provides an innovative yet proven alternative.” said Jonas Qvarfordt, Sales Director, CCH Tagetik Nordic at Wolters Kluwer.
“The CCH Tagetik Finance Transformation Platform is a strong, unified solution which is expandable, owned by finance, and has rich functionalities allowing us to continue to improve post-launch,” said Daniel Don Nilsen, Business System Controller, Orkla. “We were impressed with their competence, ability to mobilize internally and with their partner network. In addition, all the references reaffirmed our selection, and we got a broad set of perspectives on the platform.”