Wolters Kluwer Enables Segway-Ninebot Financial Transformation
KUALA LUMPUR, May 8 (Bernama) -- Wolters Kluwer, a global leader in professional information, software solutions and services, 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 Wolters Kluwer in a statement, 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 said the platform demonstrated strengths in multi-GAAP compliance, high-volume data processing and modelling, enabling faster closes and stronger decision-making.
Meanwhile, Segway-Ninebot IT Director, Yang Hu said 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, limiting visibility across global operations.
Wolters Kluwer addressed these challenges with a single integrated platform featuring direct SAP connectivity and advanced data integration, standardising processes across geographies, accounting frameworks and currencies.
The implementation delivered measurable results, most notably a 45 per cent 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 unrealised 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.
-- BERNAMA