Beijing: Wolters Kluwer, a global leader in professional information, software solutions, and services, has announced the successful completion and full go-live of a two-phase platform for Segway-Ninebot, a global leader in electric personal mobility.
According to BERNAMA News Agency, the deployment establishes a unified corporate performance management (CPM) foundation spanning statutory consolidation, management reporting, budgeting, and forecasting. Built on CCH Tagetik, the system replaces fragmented, manual finance processes with an automated, integrated model designed to strengthen governance and accelerate decision-making.
Wolters Kluwer Greater China General Manager of CCH Tagetik Greater, Michael Chung, stated that the platform demonstrated strengths in multi-GAAP compliance, high-volume data processing, and modeling, enabling faster closes and stronger decision-making. Meanwhile, Segway-Ninebot IT Director, Yang Hu, mentioned that the unified system significantly improved efficiency and data consistency while freeing teams to focus on analysis rather than reconciliation.
Segway-Ninebot's expansion to more than 50 legal entities worldwide had created significant financial complexity, including multiple SAP instances, non-SAP systems, inconsistent master data, and manual reporting workflows, which limited visibility across global operations. Wolters Kluwer addressed these challenges with a single integrated platform featuring direct SAP connectivity and advanced data integration, standardizing processes across geographies, accounting frameworks, and currencies.
The implementation delivered measurable results, most notably a 45 percent reduction in the financial close cycle, with entity-level close achieved by T+1, group consolidation by T+3, and management reporting by T+4. The platform processes nearly 10 million data records annually, enabling detailed cost tracing and profitability analysis while automating complex processes such as unrealized profit eliminations.
Beyond efficiency gains, the system establishes a single source of truth for finance operations, aligning master data and accounting practices across 15 entities and ensuring consistency between statutory and management reporting.