Quick Overview
- 1#1: Workiva - Cloud-based platform for regulated financial reporting, compliance, and statutory filings like SEC reports.
- 2#2: CCH Tagetik - Unified corporate performance management solution for financial consolidation, statutory reporting, and regulatory compliance.
- 3#3: OneStream - Intelligent finance platform providing statutory consolidation, reporting, and close management in a single solution.
- 4#4: Oracle Financial Consolidation and Close - Cloud service for global financial consolidation, account reconciliation, and statutory reporting.
- 5#5: SAP Group Reporting - Real-time statutory and management consolidation tool integrated with SAP S/4HANA for compliant financial reporting.
- 6#6: Insightsoftware Certent - Automates financial disclosure management, close processes, and statutory reporting for complex organizations.
- 7#7: LucaNet - Specialized software for financial consolidation, group reporting, and statutory accounts preparation.
- 8#8: BlackLine - Financial close automation platform with reconciliation, task management, and statutory reporting features.
- 9#9: Vena - Excel-integrated platform for FP&A, consolidation, budgeting, and statutory financial reporting.
- 10#10: Planful - Continuous planning platform supporting financial consolidation, reporting, and statutory compliance.
Tools were selected and ranked based on key factors including feature depth (e.g., real-time reporting, global consolidation), ease of use, platform reliability, and overall value, ensuring a comprehensive list of top performers for businesses of all sizes.
Comparison Table
Statutory reporting software is essential for meeting regulatory requirements, and selecting the right tool demands a clear understanding of its capabilities. This comparison table examines key features, usability, and integration strengths of leading solutions like Workiva, CCH Tagetik, OneStream, Oracle Financial Consolidation and Close, SAP Group Reporting, and more, enabling readers to identify the best fit for their organizational needs.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | Workiva Cloud-based platform for regulated financial reporting, compliance, and statutory filings like SEC reports. | enterprise | 9.4/10 | 9.7/10 | 8.5/10 | 8.8/10 |
| 2 | CCH Tagetik Unified corporate performance management solution for financial consolidation, statutory reporting, and regulatory compliance. | enterprise | 8.9/10 | 9.4/10 | 7.6/10 | 8.2/10 |
| 3 | OneStream Intelligent finance platform providing statutory consolidation, reporting, and close management in a single solution. | enterprise | 9.2/10 | 9.6/10 | 8.1/10 | 8.7/10 |
| 4 | Oracle Financial Consolidation and Close Cloud service for global financial consolidation, account reconciliation, and statutory reporting. | enterprise | 8.6/10 | 9.3/10 | 7.4/10 | 8.1/10 |
| 5 | SAP Group Reporting Real-time statutory and management consolidation tool integrated with SAP S/4HANA for compliant financial reporting. | enterprise | 8.7/10 | 9.2/10 | 7.4/10 | 8.1/10 |
| 6 | Insightsoftware Certent Automates financial disclosure management, close processes, and statutory reporting for complex organizations. | enterprise | 8.2/10 | 8.7/10 | 7.9/10 | 7.4/10 |
| 7 | LucaNet Specialized software for financial consolidation, group reporting, and statutory accounts preparation. | specialized | 8.1/10 | 8.3/10 | 9.0/10 | 7.7/10 |
| 8 | BlackLine Financial close automation platform with reconciliation, task management, and statutory reporting features. | enterprise | 8.4/10 | 9.1/10 | 7.6/10 | 7.9/10 |
| 9 | Vena Excel-integrated platform for FP&A, consolidation, budgeting, and statutory financial reporting. | enterprise | 8.1/10 | 8.4/10 | 8.2/10 | 7.7/10 |
| 10 | Planful Continuous planning platform supporting financial consolidation, reporting, and statutory compliance. | enterprise | 7.8/10 | 8.2/10 | 7.4/10 | 7.5/10 |
Cloud-based platform for regulated financial reporting, compliance, and statutory filings like SEC reports.
Unified corporate performance management solution for financial consolidation, statutory reporting, and regulatory compliance.
Intelligent finance platform providing statutory consolidation, reporting, and close management in a single solution.
Cloud service for global financial consolidation, account reconciliation, and statutory reporting.
Real-time statutory and management consolidation tool integrated with SAP S/4HANA for compliant financial reporting.
Automates financial disclosure management, close processes, and statutory reporting for complex organizations.
Specialized software for financial consolidation, group reporting, and statutory accounts preparation.
Financial close automation platform with reconciliation, task management, and statutory reporting features.
Excel-integrated platform for FP&A, consolidation, budgeting, and statutory financial reporting.
Continuous planning platform supporting financial consolidation, reporting, and statutory compliance.
Workiva
enterpriseCloud-based platform for regulated financial reporting, compliance, and statutory filings like SEC reports.
Patented linked data model that dynamically updates interconnected reports from a single data source
Workiva is a cloud-based platform specializing in connected financial reporting, compliance, and data management, with robust tools for statutory reporting including XBRL/iXBRL tagging, ESEF compliance, and automated filings. It integrates data from ERPs, spreadsheets, and databases into a single source of truth, enabling real-time collaboration, version control, and audit trails. Ideal for complex regulatory environments, it supports global standards and reduces manual effort in preparing annual reports, 10-Ks, and other statutory disclosures.
Pros
- Unified data linking ensures changes propagate across all reports automatically, minimizing errors
- Comprehensive compliance support for global statutory standards like SEC, ESEF, and iXBRL
- Real-time collaboration and strong governance controls with full audit trails
Cons
- Steep learning curve for new users due to advanced functionality
- Enterprise-level pricing can be prohibitive for smaller organizations
- Customization may require professional services for optimal setup
Best For
Large enterprises and public companies with complex, multi-jurisdictional statutory reporting requirements.
Pricing
Custom enterprise subscription pricing based on users, modules, and usage; typically starts at $50,000+ annually with quotes required.
CCH Tagetik
enterpriseUnified corporate performance management solution for financial consolidation, statutory reporting, and regulatory compliance.
Unified platform for simultaneous statutory and management reporting with embedded multi-GAAP engine
CCH Tagetik is a unified Corporate Performance Management (CPM) platform from Wolters Kluwer, specializing in financial consolidation, statutory reporting, and close processes for multinational enterprises. It automates complex multi-GAAP compliance, intercompany eliminations, and regulatory filings like IFRS and local GAAP standards. The software provides a single source of truth with real-time analytics and seamless ERP integrations, ensuring accuracy and efficiency in statutory reporting workflows.
Pros
- Robust multi-GAAP statutory consolidation and automated reporting
- Deep Excel integration for familiar user experience
- Scalable for large enterprises with strong audit trails and compliance tools
Cons
- Steep learning curve and complex initial setup
- High implementation costs and long deployment times
- Pricing is premium and customized, less accessible for SMBs
Best For
Large multinational corporations with complex statutory reporting needs across multiple jurisdictions and GAAP standards.
Pricing
Enterprise-level custom pricing; typically starts at $100,000+ annually based on users, modules, and deployment scale—contact sales for quotes.
OneStream
enterpriseIntelligent finance platform providing statutory consolidation, reporting, and close management in a single solution.
Solution Studio for no-code extensibility, enabling tailored statutory reporting apps and automations unique to complex compliance needs
OneStream is a unified Corporate Performance Management (CPM) platform that streamlines financial close, consolidation, planning, and reporting processes. For statutory reporting, it excels in multi-GAAP/IFRS compliance, automated disclosures, and regulatory filings across global entities with features like parallel ledgers and embedded XBRL tagging. Its extensible architecture supports complex, jurisdiction-specific requirements while maintaining a single source of truth for accurate, auditable reports.
Pros
- Robust multi-GAAP statutory consolidation and reporting with built-in compliance tools
- Extensible platform via Solution Studio for custom statutory workflows
- Integrated financial close and reconciliation reduces manual errors
Cons
- Steep learning curve for non-expert users
- High implementation complexity and time for large deployments
- Premium pricing may not suit smaller firms
Best For
Large multinational enterprises needing integrated, compliant statutory reporting across diverse regulations and entities.
Pricing
Custom quote-based enterprise licensing; annual subscriptions typically start at $150,000+ based on modules, users, and scale.
Oracle Financial Consolidation and Close
enterpriseCloud service for global financial consolidation, account reconciliation, and statutory reporting.
Advanced Ownership Management for handling complex equity pickups and minority interests in statutory consolidations
Oracle Financial Consolidation and Close (FCC) is a cloud-native solution within the Oracle EPM suite that automates financial consolidation, close management, and reporting processes. It excels in statutory reporting by supporting multi-GAAP compliance, currency translations, intercompany eliminations, and ownership management across global entities. FCC provides audit-ready reports, workflow automation, and integration with Oracle ERP systems to ensure regulatory adherence in over 190 countries.
Pros
- Powerful consolidation engine with multi-GAAP and statutory support
- Scalable for complex, multi-entity global operations
- Strong integration with Oracle Cloud ERP and EPM tools
Cons
- Steep learning curve and complex setup
- High cost for implementation and licensing
- Less intuitive for non-Oracle ecosystem users
Best For
Large multinational enterprises requiring robust, compliant statutory consolidations and close processes across diverse jurisdictions.
Pricing
Subscription-based enterprise pricing; custom quotes typically start at $100K+ annually depending on users, modules, and deployment size.
SAP Group Reporting
enterpriseReal-time statutory and management consolidation tool integrated with SAP S/4HANA for compliant financial reporting.
Parallel ledger accounting that simultaneously handles multiple statutory and management reporting standards in real-time
SAP Group Reporting is a powerful financial consolidation and group reporting solution tailored for multinational enterprises. It automates the consolidation of financial statements from diverse subsidiaries, supports multiple statutory standards like IFRS, US-GAAP, and local GAAPs, and delivers compliant statutory reports with drill-down capabilities. Integrated with SAP S/4HANA, it enables real-time group closing and analytics while ensuring regulatory compliance across jurisdictions.
Pros
- Comprehensive multi-GAAP and multi-currency support for global statutory compliance
- Seamless integration with SAP S/4HANA for real-time consolidation
- Advanced automation of intercompany eliminations and validations
Cons
- Steep learning curve and complex setup requiring specialized expertise
- High implementation costs and long deployment timelines
- Limited flexibility for non-SAP environments
Best For
Multinational corporations with complex group structures and heavy reliance on SAP's ecosystem for statutory financial reporting.
Pricing
Enterprise subscription pricing, typically starting at $150,000+ annually based on user count, modules, and deployment; custom quotes required.
Insightsoftware Certent
enterpriseAutomates financial disclosure management, close processes, and statutory reporting for complex organizations.
Excel-based authoring with embedded XBRL tagging, allowing seamless creation of compliant statutory reports without leaving familiar spreadsheets
Insightsoftware Certent, particularly its Disclosure Management solution, is a robust platform for automating statutory and regulatory financial reporting, enabling teams to create compliant annual reports, 10-Ks, and IFRS filings. It leverages an Excel-native interface for authoring complex narratives and financial tables with automated XBRL/iXBRL tagging and validation. The software integrates seamlessly with ERP systems like SAP and Oracle, providing end-to-end workflow management, collaboration, and audit trails to ensure accuracy and compliance.
Pros
- Excel-native authoring accelerates report creation for finance professionals familiar with spreadsheets
- Comprehensive XBRL/iXBRL tagging and validation ensures statutory compliance across global standards
- Powerful workflow and collaboration tools with real-time approvals and version control
Cons
- Enterprise-level pricing may be prohibitive for smaller organizations
- Initial setup and integration require significant configuration time
- Advanced features demand a learning curve beyond basic Excel skills
Best For
Mid-to-large enterprises with complex statutory reporting needs in regulated industries like finance and manufacturing.
Pricing
Quote-based enterprise pricing, typically starting at $50,000+ annually based on users, modules, and integrations.
LucaNet
specializedSpecialized software for financial consolidation, group reporting, and statutory accounts preparation.
Semantic financial model that allows non-technical users to build complex statutory reports via natural language-like navigation
LucaNet is a comprehensive financial consolidation and reporting software designed for mid-sized enterprises, automating statutory reporting, group consolidation, and financial close processes. It supports multiple GAAPs including IFRS, US-GAAP, and local standards like HGB, streamlining data integration from ERP systems and Excel. The platform emphasizes user-friendly workflows with semantic models for flexible reporting without extensive IT involvement.
Pros
- Highly intuitive interface with drag-and-drop reporting
- Seamless Excel integration for familiar workflows
- Strong multi-GAAP support for statutory compliance
Cons
- Pricing is quote-based and can be high for smaller teams
- Scalability challenges for very large multinational groups
- Limited built-in advanced analytics compared to enterprise rivals
Best For
Mid-sized European companies needing efficient, Excel-friendly statutory reporting and consolidation without heavy customization.
Pricing
Quote-based subscription starting around €25,000 annually, scaling with users, modules, and company size.
BlackLine
enterpriseFinancial close automation platform with reconciliation, task management, and statutory reporting features.
Intelligent Task Management that automates workflows across the entire financial close, including statutory consolidation deadlines
BlackLine is a cloud-based financial close automation platform that streamlines account reconciliations, journal entries, task management, consolidations, and reporting processes. For statutory reporting, it provides robust tools for multi-entity consolidations, compliance controls, and narrative reporting to meet regulatory requirements like GAAP and IFRS. The platform emphasizes accuracy, audit trails, and real-time visibility, reducing close cycle times for finance teams.
Pros
- Powerful automation for reconciliations and consolidations minimizes errors
- Strong compliance features with detailed audit trails for statutory adherence
- Scalable integrations with ERPs like SAP and Oracle
Cons
- High implementation time and complexity for setup
- Premium pricing may not suit smaller organizations
- User interface can feel overwhelming for new users
Best For
Mid-to-large enterprises with complex, multi-entity financial closes needing integrated statutory reporting and compliance.
Pricing
Custom enterprise subscription pricing, typically $30,000+ annually for base modules, scaling with users and add-ons.
Vena
enterpriseExcel-integrated platform for FP&A, consolidation, budgeting, and statutory financial reporting.
Native Excel platform for building and automating statutory reports without leaving spreadsheets
Vena Solutions is a cloud-based FP&A platform with strong statutory reporting capabilities, enabling financial close automation, multi-entity consolidation, and compliant reporting for GAAP and IFRS standards. It leverages a native Excel interface to streamline data collection, reconciliation, and disclosure management for statutory filings. Designed for finance teams, Vena integrates with ERPs like NetSuite and SAP, providing scalable tools for complex regulatory requirements.
Pros
- Seamless native Excel integration for familiar workflows
- Robust multi-entity consolidation and compliance automation
- Comprehensive FP&A suite extending beyond statutory reporting
Cons
- Enterprise-level pricing may deter smaller firms
- Requires Excel expertise and initial setup customization
- Less specialized than dedicated statutory tools for niche regulations
Best For
Mid-to-large enterprises with Excel-savvy finance teams needing integrated FP&A and statutory reporting.
Pricing
Quote-based enterprise pricing, typically starting at $100,000+ annually depending on users and modules.
Planful
enterpriseContinuous planning platform supporting financial consolidation, reporting, and statutory compliance.
AI-powered Continuous Close for real-time statutory adjustments and intercompany matching
Planful is a cloud-based Financial Performance Platform that supports statutory reporting through its Consolidation module, automating financial close processes, multi-entity consolidations, and compliant reporting for standards like GAAP and IFRS. It integrates planning, budgeting, and reporting into a unified system, enabling accurate statutory filings with audit trails and real-time data. While versatile for FP&A needs, its statutory capabilities shine in handling complex intercompany transactions and currency translations for global enterprises.
Pros
- Robust automation for consolidations and intercompany eliminations
- Seamless ERP integrations (e.g., SAP, Oracle)
- Scalable for multi-entity global operations with strong compliance tools
Cons
- Steeper learning curve for non-FP&A users focused solely on statutory reporting
- Higher cost structure suited more for enterprises than SMBs
- Less specialized in pure statutory filing workflows compared to dedicated tools
Best For
Mid-to-large enterprises needing integrated FP&A with reliable statutory consolidation and reporting.
Pricing
Custom enterprise pricing; typically starts at $100,000+ annually based on modules, users, and entities.
Conclusion
The reviewed tools provide powerful support for statutory reporting, with Workiva emerging as the top choice for its robust cloud-based compliance and financial filing capabilities. CCH Tagetik and OneStream shine as strong alternatives, offering unified performance management and intelligent consolidation respectively, catering to distinct organizational needs. Each solution brings unique value, ensuring a fit for diverse reporting requirements.
Take the first step in optimizing your statutory reporting—explore Workiva, the top-ranked tool, and unlock streamlined processes and reliable compliance support for your organization.
Tools Reviewed
All tools were independently evaluated for this comparison
