Wolters Kluwer Expands CCH® Tagetik Corporate Performance Management Capabilities to Help Taiwan Companies Address ESG + Global Minimum Tax Requirements

Company also strengthens its network of Taiwan implementation partners, providing reliable, local expertise to ensure a seamless, convenient user experience for customers

TAIPEI, May 11, 2023 /PRNewswire/ -- Wolters Kluwer, a global leader in professional information, software solutions, and services, today announced the expansion of its CCH® Tagetik Corporate Performance Management (CPM) portfolio in Taiwan – introducing new functionality to help Taiwan multinational companies address evolving Global Minimum Tax and ESG regulations.

 

More than 1,700 global enterprises currently utilize the CCH Tagetik expert solution. In Taiwan, 10 of the region's 14 major general insurers – including Hotai Insurance Co. Ltd. and Shinkong Insurance Co., Ltd. – already use the CCH Tagetik IFRS 17 expert solution to deliver accurate, compliant data and reports in a timely manner. The broader CCH® Tagetik Corporate Performance Management solution digitally-enables finance functions by delivering:

Productivity improvements, reduced financial close cycle times, and increased benefits from automation Simplified processes, clear visibility into enterprise-wide financial information, and built-in compliance for finance departments Faster completion of everyday processes, so teams can focus on strategic goals Data integration that connects enterprise-wide insights to drive growth and help finance leaders better navigate change Artificial Intelligence-based predictive intelligence to support better decision-making

Following two years of successful operations in the Taiwan market, the CCH Tagetik expert solution portfolio is being further expanded to meet two high-priority challenges faced by Taiwan finance leaders: ESG and Global Minimum Tax reporting and strategy development.  

New CCH Tagetik functionality will support multinational Taiwan companies that will be impacted by new, Global Minimum Tax requirements, which the "Ministry of Finance"expects to adopt as early as 2024 for certain global enterprises. Specifically, the CCH Tagetik Global Minimum Tax solution will empower enterprises collect, align, calculate and report integrated finance and tax data in compliance with Organisation for Economic Co-operation and Development (OECD) Pillar Two tax requirements. It will also help CFOs better understand how Pillar Two regulations will impact their business model and operations. New CCH Tagetik ESG & Sustainability Performance Management functionality helps companies comply with ESG reporting and disclosure requirements, while driving long-term, sustainable growth. This new, audit-friendly functionality captures, consolidates and facilitates the reporting of ESG data and operational key performance indicators (KPIs), as required by an increasing number of global governing bodies and by the Taiwan Stock Exchange's new ESG disclosure platform.

Wolters Kluwer also reinforced its long-term commitment to the Taiwan market by establishing a Taiwan-based legal entity (Wolters Kluwer Taiwan Limited) and by ensuring a local team of CCH Tagetik experts are in place in Taiwan, to provide customers with reliable implementation support. Wolters Kluwer has also established a network of Taiwan implementation partners, including Asgard and Mercuries Data Systems Ltd, who provide reliable, local expertise to ensure customers can implement the CCH Tagetik expert solution with ease.

Michael Chung, Greater China General Manager of CCH Tagetik for Wolters Kluwer, said:

"CCH Tagetik has a proven track record for digitally enabling Taiwan CFOs to gain visibility into, connect and analyze enterprise-wide data in a way that helps them better manage complex global requirements, drive growth and navigate change. The solution's new Global Minimum Tax and ESG capabilities, combined with our growing network of local implementation partners, reinforces our long-term commitment to empowering Taiwan finance leaders to improve efficiency and enhance decision-making, even in the face of constantly evolving business challenges."

About Wolters Kluwer

Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software, and services for professionals in healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.

Wolters Kluwer reported 2022 annual revenues of €5.5 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 20,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

For more information, visit www.wolterskluwer.com, follow us on LinkedIn, Twitter, Facebook, and YouTube.

Media Contact:

Beatriz Santin                                                                                                    
CCH® Tagetik                                                          
+1 339 229 2447 office                                                                                               
+39 058396811 office 
beatriz.santin@wolterskluwer.com