Fosun Group Implements CCH® Tagetik Expert Solution from Wolters Kluwer for integrated budget management and reporting

SHANGHAI, Nov. 29, 2023 /PRNewswire/ — Wolters Kluwer, a global leader in professional information, software solutions, and services, today announced that Fosun Group has selected CCH Tagetik Corporate Performance Management (CPM) software to help drive the digital transformation of its group finance operations.

Established in 1992, Fosun has evolved into a global, innovation-driven family consumer industry group over three decades. Fosun Group encompasses four core businesses: Health, Happiness, Wealth, and Intelligence, all experiencing steady growth. Health specializes in pharmaceuticals, medical devices, diagnostics, and health services; Happiness focuses on brand consumption, tourism, and culture; Wealth includes insurance and asset management; while Intelligence encompasses mineral resources, oil and gas, intelligent manufacturing, and high-tech industry expansion.

In response to the company’s rapid expansion, and to further promote its industrial operation, investment and digital strategies, Fosun Group’s finance team 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. 

Tangchen Wu, Director of Financial Informatization Department, Fosun Group, said:
“CCH Tagetik is a powerful, strategic financial intelligence platform, which integrates budgeting and management reporting. 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.”

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

Michael Chung, Greater China Managing Director of CCH Tagetik at Wolters Kluwer, said:
“CCH Tagetik is the ideal platform to support Fosun 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 Fosun Group’s existing business and finance applications, and will empower Fosun Group to flexibly customize the platform to fulfill its unique business requirements.”

About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in professional information, software solutions, and services for the healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG sectors. 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 20,900 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

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