Fosun Group taps Wolters Kluwer for budget management and reporting

By Delisha Fernandes

Wolters Kluwer has announced that Fosun Group has selected CCH Tagetik Corporate Performance Management (CPM) software to help drive the digital transformation of its group finance operations.

Michael Chung, Greater China Managing Director of CCH Tagetik at Wolters Kluwer, said, “CCH Tagetik is the ideal platform to support the Group’s continuous commitment to innovation, and will accelerate the company’s continued global expansion, by advancing the digital transformation of its business and finance processes. CCH Tagetik’s open architecture seamlessly integrates with the Group’s existing business and finance applications, and will empower Fosun Group to flexibly customize the platform to fulfill its unique business requirements.”

The finance team of Fosun Group is now working to streamline and digitally transform its accounting and budget performance management processes, with the use of CCH Tagetik. Fosun Group will use the CCH Tagetik CPM platform’s intuitive interface, built-in financial intelligence, and automated workflows to fulfill the following objectives:

• Establish a standardized financial framework through digital construction.
• Deliver timely and precise information to support innovation, international expansion, and in-depth industrial operations.
• Enhance the efficiency of asset management and group-level accounting services, while advancing digital intelligence in financial operations and financial management.

Fosun Group has chosen PwC, an internationally renowned financial consulting service provider, as the implementation partner for this project.

“CCH Tagetik is a powerful, strategic financial intelligence platform, which integrates budgeting and management reporting,” said Tangchen Wu, Director of Financial Informatization Department, Fosun Group. “CCH Tagetik will empower Fosun Group to collect, analyze and report budget management data, in a way that supports operational growth, internal collaboration and strategic planning.”