SHANGHAI, Aug. 17, 2023 /PRNewswire/ — Wolters Kluwer, a global leader in professional information, software solutions, and services, today announced that Mengxiang Technology has selected CCH Tagetik Corporate Performance Management (CPM) software to support its comprehensive budget management needs.  HFGR, a consulting firm specializing in performance management and business intelligence solutions, was chosen by Mengxiang Technology as the implementation partner for this project.

Mengxiang Technology is targeted as a provider of intelligent solutions for commodity distribution. Through the open source of the whole domain and the creation of intelligent supply chain operating system, Mengxiang Technology empowers the proven business model, system tools, business processes and other capabilities to the brands and commodity distributors who access the system and becomes an innovator in the era of decentralization of e-commerce. Up to now, Mengxiang Technology has sold more than 700 million items for more than 20,000 domestic and foreign famous brands.

Mengxiang Technology has implemented and will continue to utilize the award-winning CCH Tagetik platform which boasts intuitive interface, built-in financial intelligence and automated workflows to support its finance team to:  

  • Focus on strategic objectives and deliver more efficient daily financial management processes;
  • Standardize the budget model to achieve effective collaboration and rapid consolidation of budgeting across departments to enable top-down strategy and bottom-up operations, truly facilitating the strategic objectives;
  • Fulfill online comprehensive budget preparation and operation control by establishing a set of integrated budget management information system covering the whole process of strategy decomposition, budget preparation and operation control, budget adjustment, predictive analysis and budget assessment.

CCH Tagetik was chosen by Mengxiang Technology mainly because as powerful strategic and financial intelligent platform, CCH Tagetik can contribute to the sustainable growth of Mengxiang Technology as it standardizes the budget control process, enhances business predictability and profitability analysis, and supports business decisions by the comprehensive budget management system.

Michael Chung, Greater China Managing Director, CCH Tagetik at Wolters Kluwer, said:
“CCH Tagetik’s predictive intelligence and open architecture features will support Mengxiang Technology to accelerate its continued expansion throughout China by advancing the digital transformation of its finance operations.”

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.

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