MIP Fund Accounting vs. Wolters Kluwer CCH® Tagetik

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
MIP Fund Accounting
Score 8.7 out of 10
N/A
MIP Fund Accounting™ is a configurable fund accounting solution. The solution includes functionality for fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, and dashboards for nonprofits and government agencies.N/A
Wolters Kluwer CCH® Tagetik
Score 8.0 out of 10
N/A
Tagetik is a corporate performance management solution that unifies budgeting, financial planning, consolidation and management reporting. Tagetik is offered as SaaS, on a private cloud, or on-premise, and can migrate between deployments as needed.N/A
Pricing
MIP Fund AccountingWolters Kluwer CCH® Tagetik
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
MIP Fund AccountingWolters Kluwer CCH® Tagetik
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
YesYes
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
MIP Fund AccountingWolters Kluwer CCH® Tagetik
Top Pros
Top Cons
Features
MIP Fund AccountingWolters Kluwer CCH® Tagetik
BI Standard Reporting
Comparison of BI Standard Reporting features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
8.5
9 Ratings
5% above category average
Pixel Perfect reports00 Ratings8.06 Ratings
Customizable dashboards00 Ratings9.17 Ratings
Report Formatting Templates00 Ratings8.58 Ratings
Ad-hoc Reporting
Comparison of Ad-hoc Reporting features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
8.1
20 Ratings
3% below category average
Drill-down analysis00 Ratings8.220 Ratings
Formatting capabilities00 Ratings8.420 Ratings
Integration with R or other statistical packages00 Ratings7.77 Ratings
Report sharing and collaboration00 Ratings8.212 Ratings
Report Output and Scheduling
Comparison of Report Output and Scheduling features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
8.1
12 Ratings
1% below category average
Publish to Web00 Ratings8.58 Ratings
Publish to PDF00 Ratings8.211 Ratings
Report Versioning00 Ratings7.911 Ratings
Report Delivery Scheduling00 Ratings7.98 Ratings
Data Discovery and Visualization
Comparison of Data Discovery and Visualization features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
8.4
7 Ratings
9% above category average
Pre-built visualization formats (heatmaps, scatter plots etc.)00 Ratings7.86 Ratings
Location Analytics / Geographic Visualization00 Ratings7.94 Ratings
Predictive Analytics00 Ratings8.76 Ratings
Pattern Recognition and Data Mining00 Ratings9.11 Ratings
Access Control and Security
Comparison of Access Control and Security features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
8.1
19 Ratings
8% below category average
Multi-User Support (named login)00 Ratings8.619 Ratings
Role-Based Security Model00 Ratings8.618 Ratings
Multiple Access Permission Levels (Create, Read, Delete)00 Ratings8.019 Ratings
Report-Level Access Control00 Ratings7.92 Ratings
Single Sign-On (SSO)00 Ratings7.613 Ratings
Mobile Capabilities
Comparison of Mobile Capabilities features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
7.0
9 Ratings
13% below category average
Responsive Design for Web Access00 Ratings6.48 Ratings
Dashboard / Report / Visualization Interactivity on Mobile00 Ratings7.76 Ratings
Budgeting, Planning, and Forecasting
Comparison of Budgeting, Planning, and Forecasting features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
8.4
46 Ratings
1% above category average
Long-term financial planning00 Ratings8.432 Ratings
Financial budgeting00 Ratings8.140 Ratings
Forecasting00 Ratings8.737 Ratings
Scenario modeling00 Ratings8.233 Ratings
Management reporting00 Ratings8.844 Ratings
Consolidation and Close
Comparison of Consolidation and Close features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
8.7
42 Ratings
7% above category average
Financial data consolidation00 Ratings9.236 Ratings
Journal entries and reports00 Ratings8.734 Ratings
Multi-currency management00 Ratings9.531 Ratings
Intercompany Eliminations00 Ratings8.734 Ratings
Minority Ownership00 Ratings8.527 Ratings
Local and consolidated reporting00 Ratings9.040 Ratings
Detailed Audit Trails00 Ratings7.432 Ratings
Financial Reporting and Compliance
Comparison of Financial Reporting and Compliance features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
8.6
46 Ratings
4% above category average
Financial Statement Reporting00 Ratings9.038 Ratings
Management Reporting00 Ratings9.244 Ratings
Excel-based Reporting00 Ratings7.946 Ratings
Automated board and financial reporting00 Ratings8.231 Ratings
XBRL support for regulatory filing00 Ratings8.717 Ratings
Analytics and Reporting
Comparison of Analytics and Reporting features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
8.0
30 Ratings
1% below category average
Personalized dashboards00 Ratings8.025 Ratings
Color-coded scorecards00 Ratings7.219 Ratings
KPIs00 Ratings8.523 Ratings
Cost and profitability analysis00 Ratings8.321 Ratings
Key Performance Indicator setting00 Ratings8.121 Ratings
Benchmarking with external data00 Ratings8.014 Ratings
Integration
Comparison of Integration features of Product A and Product B
MIP Fund Accounting
-
Ratings
Wolters Kluwer CCH® Tagetik
8.4
43 Ratings
1% above category average
Flat file integration00 Ratings8.337 Ratings
Excel data integration00 Ratings9.041 Ratings
Direct links to 3rd-party data sources00 Ratings7.828 Ratings
Best Alternatives
MIP Fund AccountingWolters Kluwer CCH® Tagetik
Small Businesses
QuickBooks Desktop Pro
QuickBooks Desktop Pro
Score 8.0 out of 10
IBM Planning Analytics
IBM Planning Analytics
Score 8.4 out of 10
Medium-sized Companies
Sage Intacct
Sage Intacct
Score 8.7 out of 10
Centage
Centage
Score 9.6 out of 10
Enterprises

No answers on this topic

Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 8.2 out of 10
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User Ratings
MIP Fund AccountingWolters Kluwer CCH® Tagetik
Likelihood to Recommend
8.8
(429 ratings)
8.4
(47 ratings)
Likelihood to Renew
9.2
(125 ratings)
8.3
(10 ratings)
Usability
8.2
(100 ratings)
8.1
(14 ratings)
Availability
9.8
(15 ratings)
7.3
(2 ratings)
Performance
8.5
(84 ratings)
9.1
(2 ratings)
Support Rating
7.8
(99 ratings)
10.0
(5 ratings)
In-Person Training
10.0
(8 ratings)
6.4
(2 ratings)
Online Training
8.4
(7 ratings)
8.2
(1 ratings)
Implementation Rating
6.5
(28 ratings)
6.4
(2 ratings)
Configurability
8.6
(8 ratings)
7.3
(1 ratings)
Ease of integration
7.8
(13 ratings)
-
(0 ratings)
Product Scalability
8.7
(15 ratings)
9.1
(2 ratings)
Vendor post-sale
8.3
(13 ratings)
7.3
(2 ratings)
Vendor pre-sale
8.1
(13 ratings)
8.2
(2 ratings)
User Testimonials
MIP Fund AccountingWolters Kluwer CCH® Tagetik
Likelihood to Recommend
Community Brands
MIP Fund Accounting is well suited to any company that has multiple funding sources and expenses that they need to keep a close track on. In non-profit organizations we are looked at closely and it is important to be able to accurately show where our revenue comes from and where it is going. MIP Fund Accounting can handle that easily. It is not a system I would recommend to a small business as there are so many features that they would not need for the cost to them, at least not the versions we use.
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Wolters Kluwer CCH® Tagetik
Scenarios where CCH Tagetik is suitable is when a company have large amounts of data and want to transform, consolidate, store and produce reporting in different year, period etc with complex calculations and allocation. Tagetik is the tool for you in this case and it's very flexible in terms of creating your own business rule, calculation and reporting options with a user friendly interface. I have not thought about scenarios where it is not appropriate to use tagetik yet as the tool covers small and large business financial needs
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Pros
Community Brands
  • General Ledger processing, including journal entries and reports
  • Ability to download all reports directly to Excel and PDF formats
  • Use of Grant codes to enable grant reporting by month/quarter/year
  • Ability to have multiple departments and consolidate into groups for reporting
  • Accounts Payable and Accounts Receivable cannot be out of balance
  • Multiple ways to use the product including Cloud and Classic options, Visual menu or Standard (Top of screen) menus to select processes, many options we are not using in our simple organization
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Wolters Kluwer CCH® Tagetik
  • Processes are clearly described in CCH Tagetik ; users can easily find where they are and which action they have to make
  • Interaction with Excel is really fluid ; the Excel add-in is easy to deploy and to updgrade, in the hand of users. It is reliable provided the internet connection is fast.
  • Managing hierachies is obvious in CCH Tagetik. Hierarchies are fundamental for a good reporting ; CCH Tagetik has obviously a deep experience of this feature.
  • SaaS : our experience with CCH Tagetik is of only 1 year, but it technically performs well, the system is reponsive, no shut-down, and updates (every quarter) do not disturb production.
  • AIH seems to be able to manage very large quantity of data, and to provide advanced analysis functionalities. We did not have time to explore them.
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Cons
Community Brands
  • Could be more streamlined
  • Could have a more basic version (it is a step up in complexity from quickbooks)
  • When trying to go back to a previous page/task (the 'done' or 'back' buttons) sometimes do go back too far, but sometimes they do. More consistency of how those buttons work would help.
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Wolters Kluwer CCH® Tagetik
  • Online help and manual is a bonus but could be improved e.g. the clarity of English explanations.
  • Improved Excel compatibility e.g. formula driven reporting and dash boarding.
  • Mobile phone connectivity e.g. launching a consolidation from a Wolters Kluwer CCH® Tagetik app.
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Likelihood to Renew
Community Brands
I would give this software a high ranking for my use of it because I have a lot of experience setting it up properly. What I would like to learn more about this program is it's Drillpoint add on feature as this has a lot of potential to allow managers instant access to their financials and invoices when set up correctly
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Wolters Kluwer CCH® Tagetik
Because in my oppinion Wolters Kluwer CCH Tagetik is one of the most usable tools for consolidation, planning (controlling) and reporting. Its usability is quite easy and innovative. I like the data entry method for the customers with its workflow and tasks, quite easy way to implement a co pilot. And i like the reporting tool, with a lot of customization opportunities.
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Usability
Community Brands
I have used this system for about 12 years now and I still learning how to use it. It always surprises me how there is another report to learn to achieve my data reporting goals. It is great to have a system that you have used long enough to feel comfortable with but also a system that allows you to learn new ways to report and enter data into the system
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Wolters Kluwer CCH® Tagetik
Surprisingly, this platform is a powerhouse ERP system. However, given time, when more and more organization is able to identify how powerful this tool can be, CCH Tagetik is able to stand as a competitive advantage to many of the Financial industry of today. Although, it needs time to understand the logic behind how CCH Tagetik is formed and setup, once it is known to the user, it is an easy day to day operations with minimal maintenance.
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Reliability and Availability
Community Brands
I have rarely encountered any issues accessing MIP Fund Accounting over the years. On the rare occasions when availability was interrupted, the reasons were always found in-house when using the on-premises version. Since we have migrated to the MIP cloud, we have had no issues with availability. Any maintenance or updates are always communicated to us and are usually done outside of business hours.
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Wolters Kluwer CCH® Tagetik
CCH Tagetik has alwyas been there in case we need help. In almost 20 years of commercial relationship, I have no evidence of times in which they were not available to answer a question or to solve an issue linked to their products, timely and efficiently.
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Performance
Community Brands
We are able to generate reports in any format that we need to show the information that we have in a clear way that is easy for staff and our boards to read. We can easily run the reports agency-wide or break them down by fund or project, showing the details that we need.
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Wolters Kluwer CCH® Tagetik
As you can see, speed depends on the applications but also on the hardware that runs them. As far as CCH Tagetik improved, we saw the benefit of a cloud-based solution which could solve many speed performance issues.
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Support Rating
Community Brands
I have not reached out to MIP for technical support; however, their website offers great help resources so I can solve an issue on my own. Another team member reached out to MIP for support and was helped quickly. The transition process took longer than expected due to a lag in communication.
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Wolters Kluwer CCH® Tagetik
I got very quick respons. After very little mail iterations, they decided to have online meeting to look together with me to the issue. They tried to solve it during the meeting. I had the impression that the customer care person really knew the system and was able to ask help from other colleagues when needed
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In-Person Training
Community Brands
There are no specifics on what happens if you make one choice or another to know which is the best selection. This is true for JVs and AP. In training we were not given specifics of what happens when one possibility is selected over another.
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Wolters Kluwer CCH® Tagetik
the training was not bad, but we got more training from working with the consultants. This because it is based on our system
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Online Training
Community Brands
Denise O'Malley provided training for the HR module when we added it to our system. Denise also gave us a demo of the EWS module which we were able to see that it would not meet our needs. She was very kind about and understanding regarding the functions we needed with a time clock system.
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Wolters Kluwer CCH® Tagetik
Online training is the only form of training we could deploy during the pandemic. This service has been nonethless delivered with the same standards and the same results of the traditional training procedures.
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Implementation Rating
Community Brands
Don't waste your time with MIP. There are plenty of other softwares out there that will do the job better. Do your homework. Get references from actual users. Make sure that what you choose will truly integrate. Make sure that there is local support. Get training. You will be glad that you passed this one by. Trust me.
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Wolters Kluwer CCH® Tagetik
we did it in a coaching model. This allowed us to have 2 key advantages: we got to know the system very well and managed to save on the implementation cost. This worked well, was maybe a bit slower since we had to do this in our spare time. Nevertheless I strongly recommand
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Alternatives Considered
Community Brands
This is the first time I've worked in the non-profit world. Accounting is somewhat different so I am very glad to be using a product designed specifically for non-profits. Many accounting processes are similar of course, but it is nice to have them tailored to fit the requirements of a non-profit organization.
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Wolters Kluwer CCH® Tagetik
I found the Excel piece of IBM Cognos TM1 to be easier to use than CCH Tagetik. It was much easier to customize the data being pulled and the feel of the reports because of that. Other than that, CCH Tagetik has been more user friendly than IBM Cognos TM1. Navigating within the application is much easier. IBM Cognos TM1 had a lot of issues with certain modules that could not be open concurrently; this would often lead to phantom data being entered in the system. I have not had these issues with CCH Tagetik.
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Scalability
Community Brands
The flexibility to create certain features are helpful and are designed to be easier on MIP Accounting Cloud. It has been easier than the MIP Accounting classic version. I may have not fully utilized the software to deploy across multiple departments other than generating revenue reports or expenses. As well as developing budget worksheets for our departments. Which are great as it is, but have not gone farther than that.
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Wolters Kluwer CCH® Tagetik
A good and performing scalability both on a geographical and a legal entity scale. The link with MS Office suite allows an easy deployment of the application, especially for contributors.
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Return on Investment
Community Brands
  • We don't use all the add-ons, but for the basic accounting that we need it for it is an excellent product. We have been using it since 2001. There are other products on the market, but this suits our needs completely.
  • It is easy to learn, with a lot of online support.
  • New staff learn to use the system quite easily.
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Wolters Kluwer CCH® Tagetik
  • Gave us a tool that can absolutely grow with us to help multi phase implementations.
  • A significant time savings in terms of the amount of time we used to spend running reports vs. the time we spend now. Unbelievable improvement.
  • Gives us the option to use CCH Tagetik to solve business problems that perhaps we didn't have when we implemented CCH Tagetik. It gives us options without the possibility of implementing a whole other software package.
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ScreenShots

MIP Fund Accounting Screenshots

Screenshot of MIP Advance™ Dashboards with drilldownScreenshot of MIP™ Transactions WorkflowScreenshot of MIP DashboardsScreenshot of MIP DashboardsScreenshot of MIP Dashboard drilldownScreenshot of MIP Transactions

Wolters Kluwer CCH® Tagetik Screenshots

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