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December 10, 2020
Tagetik is used for the drafting of the group's consolidated financial statement by the statutory financial statement office and the budgeting,planning and controlling department. It is also used by our accounting department for the publishing of the annual report for the single legal entities within the group. Minor implementations includes tools for financial planning, VAT, cash pooling processes management beside other controlling applications. Finally, Tagetik is the feeding application for some compliance procedures such as ERM and L. 262. Recently we have covered "the last mile of finance" by implementing the Collaborative Office tool to manage the MS Word document.
- Data entry procedures. The integration with MS Office suite applications made data entry activities easy like filling an Excel spreadsheet, with the only difference that any detail is stored in a consistent database which can be easily analysed.
- Reporting utilities. For the same reason the reporting tool makes data report and analysis easy and faster than before.
- The consolidation processes can be easily controlled thanks to a work flow utility which shows the main steps of the process and the state of completion validated by any single user.
- Data quality and auditability. Data are stored in a solid a consistent DB structure which contains also all the details suitable for any system audit need.
- ETL tools can be easily customized, thus allowing a fast incorporation of new companies into the consolidation perimeter with a specific ETL routine.
- A specific feature of Tagetik let you create multiple scenarios in which you can vary for the same period the consolidation perimeter. This is very useful if you are looking for implementing what-if analysis tool or you need to make restatements to your previous closing.
- Collaborative Office tool to manage and draft the MS Word document end extract the iXBRL file in line with ESMA reccomandations.
- The communication between users on the same platform could be improved by means of a private chat system. It seems that they have worked on it and included in the last version.
We use [CCH] Tagetik for our quarterly closing & consolidation process, as well as for reporting, budgeting and forecasting at company and group level. [CCH] Tagetik also provides the IFRS16 module and the Country by country reporting. The main user of the system is the Finance department but once the data is validated, the software also supplies reports to other departments.
- Quarterly closing &consolidation - accurate and fast. The ETL can be adjusted to our changing needs
- Reporting - excel interface that is flexible to design
- Budgeting and Forecasting - easy data entry, user independence
- Use of multiple scenarios
- Real time reporting - so far, complicated to set up in the company
- Group Cash Flow - still to be implemented
- HTML interface - slow passage
June 10, 2020
Our company uses CCH Tagetik mainly for financial consolidation and reporting. We are a Top-3-health insurance-company in the Netherlands and are therefore required by law to provide i.e. the Dutch National Bank with a number of financial reports periodically. Since we have several labels in our company, consolidating all the different data into the required format is made very easy by using CCH Tagetik.
- Consolidating: creating a solid report from all the different inputs.
- Reporting: the data comes out exactly as we want it, how we want it.
- Input: the different users can just send us their data in xslx-format, CCH Tagetik does not require a great number of users all using the tool.
- The support and education possibilities are of great quality.
- The learning curve is quite steep.
- Sometimes the Italian terms are a bit hard to understand.
We choose Tagetik to cover all CPM processes moving away from Excel. It's used across the entire organization for statutory balance, budget planning, and forecasting, IFRS16 and we are planning to expand it to other company processes. With Tagetik we have a global solution with workflows, approval task and a unique process for the whole company and its subsidiaries.
- Easy configuration.
- Workflows and approval task.
- The possibility to report in an easy way, self-built forms from users.
- A complete switch to an html5 interface.
- Business analytics.
- API for integration with ERP solutions.
Tagetik CPM is used with strategic planning in CFO area. In the near future, we plan to extend the use to the commercial network, including local managers as contributors.
- Data audit
- Data transformation
- Data collection
- Check rules
- Reporting
- General system performance
We currently use Tagetik for our reporting and consolidation.
- Reporting
- Planning/Forecasting
- Consolidation
- Speed of product
March 02, 2018
Tagetik is being used by our CFO structure. We have built planning/budgeting applications and reconciliation between accounting and DWH data.
A big problem we had before Tagetik was the absence of a structured system for the collection of data. We now have the ability to manage a simple workflow, and keep it monitored.
- integration with many databases
- flexibility of ETL system
- very strong audit tools
- reduce the number of options: sometimes you can do the same thing in too many ways
- reporting and dashboarding: in truth you can easily use third party software (if you have them), but I think there is ample room for improvement in the native reporting
Tagetik is being used by our entire organization. We use this tool for planning and budgeting, financial reporting and analysis, as well as for consolidations. Tagetik takes user error out of the equation with reports that can be customized to fit every business need.
- Automated consolidations have saved our company nearly one day of our consolidation close process, which was 1.5-2 days previously.
- Customer service. During implementation and even now, Tagetik has a great team of associates who are always willing to help with problems or questions as they arise.
- Improved retrieve functionality. While the tool offers this, it is hard to use and the system doesn't appear to fully support it
March 28, 2017
Tagetik is used across the whole organization to provide solutions for the CFO and to address regulatory requirements. With Tagetik we build our DWH (with Tagetik APM) and our corporate performance management (with Tagetik CPM). For us, the competitive advantage of using Tagetik is that Tagetik provides us one solution (not products) for all the company needs and now we do not need different products to address our problems.
- Easy to import and export data.
- Easy to manage data for regulatory requirements because it is easy to get the xbrl code.
- Strong data governance with the Tagetik data flow facilities.
- The Tagetik code is not easy to manage and to explore. You need an IT specialist if you want to change some features or functionalities otherwise you need Tagetik support.
- It is not easy to manage data of different periods. There is significant room to improve this.
- More functionality to integrate Tagetik APM and CPM.
May 16, 2017
We use Tagetik for our internal processes of budgeting, planning, closing and managerial consolidation.
- Ease of use
- Flexibility in addressing different issues with a different approach
- Tailored approach to the customer
- it is very good with its standard functions but not so much when the standard function is not available
- Menus and manuals are sometimes too technical
Tagetik is being used within the finance department of the organization. It is currently used for financial reporting. Hereby we focus on collecting data from external resources, like ERP systems and Excel, but also in turn from the Tagetik database. By using Tagetik we are able to collect the data, store them in one database (Tagetik) and then meet the requirements with regards to financial reporting.
- It meets our business requirements in regards to the way of reporting.
- Data is easy to use and convert.
- It is easy to use with MS Office.
- Great customer support
- It takes time to understand how Tagetik works (menu options, place of the menus etc).
- Improve the add-in functionality for Excel and Word. For example, make the copy paste functionality more generic and easier to use when copying and pasting between DBs.
- Provide more and better explanation than the current manuals provided.
Tagetik is being used at the moment by Unicoop Firenze across the whole organization, for the budgeting process, performance management and for the 3 Years Plan.
From a month we're using it also for Disclosure Management
From a month we're using it also for Disclosure Management
- Each end user is able to easily manage the application and his reporting.
- Easy integration with other business.
- When you have Tagetik and you have to do a new project, you think ..... "Can I do this project with Tagetik?"
- Development times are much faster.
- I would like to use all client features on web pages.
We use Tagetik for our global consolidation of financial statements. It is mainly used by the finance department. We also use it for our budgeting process. All key directors input their budgets and our back office compiles the data to create our global budget.
- Tagetik is extremely flexible and customizable to your business needs.
- It creates financial statement reports extremely fast and gives us the ability to slice and dice financial metrics in more ways than you can imagine.
- I see Tagetik as a long term business partner to help us solve problems.
- A solid implementation team and process.
- Until you get familiar with the software, screens, buttons, etc, are not necessarily intuitive. It just takes time
- Without being involved in the implementation process. A new user might have some difficulty getting up to speed on writing reports and using the system.
- Having a liaison at Tagetik that really understands our business needs so they can help guide us at various stages on implementing parts of Tagetik that we may not be aware of.
April 12, 2016
Tagetik budgeting/forecasting/reporting is used across our organization by directors to both input budget requests and to review bi-weekly and monthly financial reports. Finance/Accounting uses Tagetik to analyze income statements, payroll and statistical data. We are currently implementing consolidation which will bring in data from four different general ledger systems.
- Tagetik has allowed us to create multiple hierarchies to customize numerous reporting requirements.
- Tagetik provides us with the flexibility to easily create reports in-house. Each report has sparked interest in additional reports that we have been able to create with little or no outside help.
- As our business has expanded and use of "best of breed" sub-systems has grown, Tagetik has provided us a means to bring all the data together and view on one report.
- We are on an older version, so some things may have changed, but some of the commands are in Italian, which can be a little frustrating (or an opportunity to learn a new language).
- Non-financial directors have wished it to be a little more user friendly. I don't think it is a problem, but in order to be flexible users may have too many choices to make.
- Formatting of reports (once again we are on an older version) could be easier.
Tagetik is being used by the wider group of finance users only to help with group consolidations. This is a better solution to the original automated spreadsheet run consolidations.
- It caters for and provides solutions to complicated processes
- It can be rolled out over a wide geography
- Handles large data sets
- The same product can be used for multiple business processes
- It's very flexible
- It's sometimes too complicated i.e. the reporting building is more difficult than it needs to be
Tagetik is currently being used across the whole organisation for budgeting, planning and forecasting purposes as well as the monitoring of KPIs and production of monthly management reports. In addition we use Tagetik extensively during our year-end accounts production process for the collection, validation and aggregation of data required for statutory accounts.
- Integration with Excel.
- Easy to create and maintain dimension elements and hierarchies.
- Automation and scheduling of data uploads.
- Error messages can be difficult to understand - particulalry when written in Italian!
December 20, 2018
We use CCH Tagetik for our budgeting and planning activities. Tagetik is used by sales managers to input annual sales forecasts, the result of which drives our budgeting process. Department managers use Tagetik to input operational expenses for the year. We also use Tagetik for generating financial reports required by our parent organization.
- Excel interface capability makes it easier for user adoption
- Web interface and workflow provide both simplicity and control
- Multi-currency support
- Raw data import process could be simpler and faster
- Easier transition from Excel-based templates to Web-based
- Needs a complete HTML5 Admin console
Tagetik is being used as a reporting tool. The accounting / finance department uses it regularly to create financial statements and map accounts from our ledger to Tagetik. The parking lot managers and sales teams use Tagetik to see the profitability of their lots. Tagetik has allowed different teams across the organization gain an understanding of the profitability of the lots by producing consistent financial reports.
- It does a good job of assisting with the mapping of accounts to entities. Unlike other programs that require you to add an account for all entities, Tagetik knows to map new accounts to all entities.
- The interface is very user friendly and intuitive. Once you have a basic understanding of how it functions, it is very easy to navigate.
- Any time there has been issues with the tool, the Tagetik team has been very quick to assist in solving the issue. They really provide a great deal of support.
- When setting up accounts, there are some fields that are not applicable to my company that I am still required to populate (i.e. exchange rate).
- Making changes to existing reports is not the easiest thing.
August 31, 2015
Tagetik is used for statutory consolidated balance sheets, economic and financial budgeting and forecasting by projects, and HR-ERM-HSE cockpit. It's used across the whole organization with about 300 different users located worldwide. We use Excel. Its Excel interface for statutory reporting is used internally and for our external duties through banks, rating agencies and others entities (our group is listed on the Milan Stock Exchange). Our group uses Tagetik to perform its business plan - every company in our group uses it to present its business plan. Since Tagetik is web-based we have the opportunity to collect data 7 days a week 24 hours per day. We experienced a reduction of TCO of about 25%.
- Really fast consolidation routine
- Data Drill-down
- Easy to use for reporting
- Flexibility and scalabity
- Improve financial budgeting cockpit
- Improve some IC reconciliation report
- Improve something regarding Equity reserves in consolidation routine
- Improve exchange rate management DB
We use Tagetik as a full CPM tool for consolidation, planning, forecasting and intelligent data collection.
- Consolidates more than 150 entities quickly and precisely.
- Scalable planning for more than 1000+ users.
- BI intergrated.
- Workflow process over all dimensions.
- New MDM process flow for better ERP intergration and management of mapping of the metadata.
- Consolidation per counterpart at all dimensions.
August 20, 2015
We use the system for all of our consolidation, internal and statutory external reporting. It is currently only used by the office of finance but the intention is to start letting all business areas submit their own budgets and forecasts to provide even better throughput. Cash flow forecasting will be our next target area.
- Really quick and simple to create new reports
- Retention of previous structures
- Some of our reports are extremely large and complex (our fault) so can be a little slow to run during which time Excel is tied up on the users local PC. We have solved this by a Citrix Xenapp deployment but Tagetik could consider implementing multi threading to speed things up.
January 31, 2018
We implement CCH Tagetik at our customers as consultants and offer advice on the use of it.
- Easy to use for the end user
- Great for consolidation
- Broad reporting functionalities
- The combination of a single data source and validation processes ensure accuracy
- Has to be updated regularly to ensure performance standards
Tagetik is being used primarily within the U.S. Finance Department. It allows the company to create the annual financial statements for multiple entities in a much more efficient and effective manner. Instead of creating multiple separate word documents, Tagetik allows you to create one main document that can then be linked to other documents.
- Link documents
- Organize documents
- Include matrices into your document
- Linking matrices could be easier
June 02, 2017
Tagetik is very important for closing and forecasting/planning cycle. We have many business unit and a large consolidation area, a large type of IC matching and eliminations, so it's very important an informatic tool can be really reduce time of delivery to Top Management.
- Complete integration for the consolidation areas
- Automate eliminations
- Multiple reporting standards
- Automatic reporting tools
- A little bit difficult to customize
May 19, 2017
Tagetik helps me and my company manage different distributed processes, like closing, budgeting, forecasting, and KPI.
- I like the way I can make an autonomous report using an Excel interface, that is in my opinion very simple and user-friendly. Also, the process cockpit is very helpful to manage processes.
- I don't like the SQL query tool included in the Excel reporting interface.
CCH Tagetik Scorecard Summary
Feature Scorecard Summary
What is CCH Tagetik?
CCH Tagetik is designed to enable digital transformation and drive strategy with financial processes and data in a unified platform — owned by Finance.
The vendor states that companies trust CCH Tagetik Corporate Performance Management software to save time, lower costs and reduce risk, and can use CCH Tagetik to get a faster close, conduct more forward looking-planning and in-depth analytics by connecting data, processes and people with a single trusted source. CCH Tagetik Finance Transformation Platform, powered by the Analytic Information Hub, is a unified platform that connects finance and operations and streamlines consolidation & close, planning, reporting & analytics, disclosures and compliance. CCH Tagetik can be deployed as SaaS, private cloud, or on-premise. The flexibility to migrate from one to the other means that the solution can match a company's strategy, today or in the future. The vendor boasts over 1,200 customers globally using CCH Tagetik to increase efficiency, reduce risk, and saved money.
The vendor states that companies trust CCH Tagetik Corporate Performance Management software to save time, lower costs and reduce risk, and can use CCH Tagetik to get a faster close, conduct more forward looking-planning and in-depth analytics by connecting data, processes and people with a single trusted source. CCH Tagetik Finance Transformation Platform, powered by the Analytic Information Hub, is a unified platform that connects finance and operations and streamlines consolidation & close, planning, reporting & analytics, disclosures and compliance. CCH Tagetik can be deployed as SaaS, private cloud, or on-premise. The flexibility to migrate from one to the other means that the solution can match a company's strategy, today or in the future. The vendor boasts over 1,200 customers globally using CCH Tagetik to increase efficiency, reduce risk, and saved money.
Categories: Financial Close, Corporate Performance Management (CPM)
CCH Tagetik Integrations
SAP HANA, Microsoft Office Suite, Qlik
CCH Tagetik Competitors
Workday Adaptive Planning, Prophix, Anaplan, IBM Cognos Analytics, Board, Axiom EPM, Longview, Vena Solutions, Adaptive Insights, Oracle Hyperion, Host Analytics, OneStream
CCH Tagetik Pricing
- Does not have featureFree Trial Available?No
- Does not have featureFree or Freemium Version Available?No
- Has featurePremium Consulting/Integration Services Available?Yes
- Entry-level set up fee?No
CCH Tagetik Support Options
| Free Version | Paid Version | |
|---|---|---|
| Social Media | ||
| Video Tutorials / Webinar | ||
| Phone | ||
| Forum/Community | ||
| FAQ/Knowledgebase |
CCH Tagetik Technical Details
| Deployment Types: | On-premise, SaaS |
|---|---|
| Operating Systems: | Windows, Linux, Mac |
| Mobile Application: | Apple iOS, Android, Windows Phone |
| Supported Countries: | All regions |
| Supported Languages: | English, Spanish, Italian, French |