TrustRadius
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.https://media.trustradius.com/product-logos/6Z/ez/IMD87SQ4SKT8.JPEGTagetik: What else!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.,9,Positive: a standardized process with defined time. Positive: a centralized place with all company information. ROI in less than 24 months.,SAP BPC (Business Planning and Consolidation) and Oracle Hyperion Enterprise Performance Management,SAP ERP, Genesys PureConnect, SAP CRMCCH Tagetik provides a stable and secure platform for detailed planning and budgetingWe 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,10,Replacing old, fragile Excel-based models Providing a database back-end for recording user input that drives budgeting and planning Excellent security helps us to isolate sensitive information,Budget Maestro, Adaptive Insights and Solver BI360,JIRA Software, Atlassian Confluence, BitbucketCCH Tagetik CPM for PlanningTagetik 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,8,None at the moment,BOARD,Microsoft Power BIGreat Consolidation ToolWe currently use Tagetik for our reporting and consolidation.,Reporting Planning/Forecasting Consolidation,Speed of product,8,Consolidation went from a 2 day process to 4 hours,,SAP BPC (Business Planning and Consolidation)Experience with Tagetik CPM for banking planningTagetik 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,8,at the moment, cannot estimate,Microsoft BI,7,2,Stategic Palannin CCost Management,Quick allocation Audit,budget for managers,8,Allocation Audit Tool DB management,MDX different way to do the same things,7Flexible. Scalable. Consistent. The one stop solution for your financial reporting needs.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.,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.,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.,9,Less time spent on data entry and report creation procedures. More time spent on data analysis. Less time for computing data. Incorporation of multiple compliance procedures (such as SOX and ERM) on the same platform, avoiding duplicated analysis.,SAP and Hyperion,SAP NetWeaver BPM,96,2,Data collection Data flow management Reporting routines,Support to compliance routines (such as risk management) which are not directly involved in the financial reporting process.,Financial document drafting (which could also include presentations). Non-financial information management.,6,Yes,Product Features Product Usability,I think we invested enough on our evaluation and selection process, coming to the solution which was (and still is) the most suitable at that moment.,Professional services company,Yes,Change management was a big part of the implementation and was well-handled,translating the new data model from the previous one (which was different and more bounded to system's limitations) bringing approval process inside the application instead of managing it by phone or by email thinking with an atomistic point of view (the fear of having too much little pieces of information is always behind the corner),7,8,No,Some years ago one of our subsidiary was looking for an application to run its sub-consolidation routines, preserving at the same time the necessary privacy filter to deliver us the data only once it was ready to use. In that circumstance Tagetik provided us a dedicated team of consultants that built an ad-hoc environment which was integrated with the main server application but which could be seen by the main consolidator only after a specific approval of the subsidiary. This solution was so performing that we decide to adopt it also for other branches. Beside that, also the construction of our intercompany cockpit was made with a specific commitment on us.,the intercompany dashboard, which gives a complete outlook of all the intercompany reconciliations the Excel macro for the reporting generation,merger and acquisition automatic recordings are sometimes difficult to configure.,Yes, but I don't use it,8Consolidate with CCH TagetikWe 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,8,Time savingsTagetik - Great product!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,8,Affordable product Consolidations has saved time Feeling that we can trust the numbers when we send them to our leadership group,BPC,Vista HRMS1 Solution (not products) to manage Corporate BusinessTagetik 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.,8,Ror us it represented a cheap solution first because it is "the" solution to build our own specific applications for our business needs. Cheap solution and fewer Investments (respects other vendors) to manage regulatory requirements in the European insurance industry (solvency II). It is a solution well understood by all different company departments.,SAP BusinessObjects Planning and Consolidation and Oracle BPM Suite,SunGard iWorks MacessTagetik a fantastic tool for CPM solutionsWe 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,9,Tagetik has improved and helped to better structure our internal processesTagetik, what else.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.,8,Faster and more accurate way of reporting Increase in efficiency Decrease in issues with regards to data collection,Anaplan,PeopleSoft Financials, Oracle PeopleSoft HCM,32,1,Reporting Solvency Budgetting and Planning,Tagetik provided the best solution for Solvency. Solutions that best met our requirements. Increased efficiency in reporting,We might expand Tagetik more though other divisions, making it the main reporting tool within the company. Still thinking about it....,9,Yes,Product Features Product Usability Analyst Reports,If we would have been going through the selection process again, we would have put more focus on the way Tagetik would go through the implementation and training proces, since the implementation (mainly by third parties) was a bit hectic and at the end, none of the users had efficiënt knowledge to use Tagetik properly. Therefore, we would have used more Tagetik consultants and less third party consultants, which would be our requirement.Enjoy and think betterTagetik 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,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.,10,We have reduced the number of support calls. We have greatly reduced the cost of maintenance.,Tagetik at a GlanceWe 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.,10,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 Tagetik to solve business problems that perhaps we didn't have when we implemented Tagetik. It gives us options without the possibility of implementing a whole other software package.,bi360, deFacto Performance Management and Solver,Microsoft Dynamics GP, Microsoft Access, Microsoft Exchange,30,10,Consolidation Budgeting Statistical,Statutory reporting Dashboarding Board reporting Fixed asset planning,HR planning Board reporting,10,Yes,Price Product Features Product Usability Product Reputation Vendor Reputation Existing Relationship with the Vendor Positive Sales Experience with the Vendor Analyst Reports,Wouldn't change a thing.,Implemented in-house,Yes,Change management was a small part of the implementation and was well-handled,Just getting used to writing reports Time to find from regular job to implement,10,Yes,10,No,All of our onsite meetings were very successful.,Physically running of reprts,Getting used to creating reports can be difficult to get used to Navigating until you get used to it,Yes, but I don't use it,10Tagetik allows a limited financial staff to do moreTagetik 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.,10,With the elimination of the need to distribute and collect budget worksheets and verify the calculations, Tagetik has allowed our limited financial staff more time to do analysis while creating the budget. It is hard to put a return on investment on Tagetik. The price paid for the product has more than paid for itself in my opinion. However in our case, we have not directly attributed any reduction in cost or increased revenue to the product. It has allowed the finance staff to produce and analyze many new reports which has increased our productivity and value to the organization.,,Kronos Workforce Central, Financial Edge NXT, NextGen Healthcare Practice Management,9,Yes,When implementing, issues were submitted and then many times would be worked on by staff back in Italy, so that when I came in the next morning, the issue was resolved.It's alright reallyTagetik 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,6,Less duplication of effort Improved efficiency Streamlines existing process Reduces error rate,Loads of potential!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!,8,Significantly improved reporting timelines at both month-end and year-end.Tagetik ReviewTagetik 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.,7,It has definitely helped to standardize reporting across the company. Teams are able to pull the same reports and everything has the same feel to it. Since there are so many standard reports that we are able to create, it makes the analysts jobs easier since they are not spending so much time re-creating reports. With any system, there is going to be some admin work required. Creating new reports, accounts and entities does take time, but it is fairly simple and doesn't take a ton of time.,IBM Cognos TM1Tagetik: your needs, its solutionTagetik 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,9,Management reporting on financials,statistical and commentary Elimination of data duplication, Elimination of manual reconciliation processes Manual effort (data entry, processing and calculation) reduced by 50% Greater functional specialization of resources involved in processes TCO reduced by 25%,Excellent CPM use TagetikWe 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.,10,Faster closure Better reporting and faster New possibilities for forecasting,,,,Consolidation Planning Market analysis HSE data,How easy it is to develop new applications for data collection Bringing data from one application to another for use BI integration,Implementing Tagetik reporting in to one portal Detailed HR relations for planning porpoise Currency exposure simulation,8,Yes,Positive Sales Experience with the Vendor Third-party Reviews,Many things but only related to internal processes.Tagetik - the Cuprinol of Financial reporting solutions - does exactly what it says on the tinWe 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.,10,Massive increase in employee efficiency Very significant reduction in monthly and annual close,40,3Tagetik ReviewTagetik 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,7,Faster lead converison Increased employee efficiency,,7Tagetik a reliable software for your businessTagetik 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,9,Cut closing time Easy to manage and use daily,Oracle Hyperion Enterprise Performance Management,SAP Adaptive Server EnterpriseSmart and helpfull software, that can help you in managing your business processesTagetik 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.,8Smart and effectiveTagetik is being used by the Administrative department. It addresses the Group consolidation process and the data transfer to the management control reporting.,The reporting with use of Tagetik has become faster and more effective. You can organize the report fitting the users needs. The consolidation process works well. A good thing is that the consolidator can follow step by step the data entry process of the subsidiaries.,The online guide is poor of contents. It could be good for a beginner but it lacks of specific topics. In particular for CDM's section.,7,Positive impact in term of time. The consolidation and reporting process is faster and we spared at least two weeks of work.,Oracle JD Edwards EnterpriseOne,Oracle JD Edwards World, Hubble,Yes,9,No,To open and connect new databaseOur new "finance" PortalWe use Tagetik for sales planning and rolling forecasts across the whole organization. Today we can see at any time the status of our planning.,Quick access to all my Tasks and always up to date what is next. Every change or simulation in planning, forecasting or budgeting now gives us immediate insight into the changes in the P&L AND balance sheet. Tagetik makes it easy to collaborate now.,Reporting is very flexible with Tagetik and therefore extensive in the preparation.,10,We have invested more than we would have probably done in other solutions with the launch of Tagetik. After two years, we had to change our internal processes and could manage everything with Tagetik itself. It's a freedom that would have been missing for us in other products.
  3. CCH Tagetik Reviews
Windows, Linux, Mac
CCH Tagetik
36 Ratings
Score 8.5 out of 101
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CCH Tagetik Reviews

CCH Tagetik
36 Ratings
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Score 8.5 out of 101

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Mauro Del Quondam profile photo
April 26, 2019

Tagetik: What else!

Mauro Del Quondam
Score 9 out of 10
Vetted Review
Verified User
Review Source
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.
If you have to implement any scenarios in a small and medium-sized company this is perfect: easy to use, fast and reliable. If you have to introduce it in a very big company, it must be tested very carefully in order to assure the right performance.
Read Mauro Del Quondam's full review
No photo available
December 20, 2018

CCH Tagetik provides a stable and secure platform for detailed planning and budgeting

Verified User
Score 10 out of 10
Vetted Review
Verified User
Review Source
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
CCH Tagetik is great for pulling together financial data for the purposes of budgeting, planning, and forecasting. I think it will likely have other uses in our organization as well as we become more familiar with it and adept at using it.
Read this authenticated review
Elisa Mevio profile photo
April 23, 2018

CCH Tagetik CPM for Planning

Elisa Mevio
Score 8 out of 10
Vetted Review
Verified User
Review Source
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
A lot of data contributors in a different area.
Read Elisa Mevio's full review
Stefano Benetti profile photo
March 02, 2018

Experience with Tagetik CPM for banking planning

Stefano Benetti
Score 8 out of 10
Vetted Review
Verified User
Review Source

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

I think the native application (Consolidation) is probably the best, but there is much opportunity to structure effective planning processes. In this case there needs to be more effort in terms of both function and implementation.

Another very effective application is cost allocation. Tagetik provides a lot of native features that allow analysts to deploy allocation systems, even very complex ones.

Read Stefano Benetti's full review
Alessandro Mantini profile photo
October 23, 2017

Flexible. Scalable. Consistent. The one stop solution for your financial reporting needs.

Alessandro Mantini
Score 9 out of 10
Vetted Review
Verified User
Review Source
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.
  • 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.
  • 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.
Tagetik is a scalable application which can be well suited to almost every company, granting an easy implementation over the existing transactional applications. Many of its functions and utilities can be customized with reference to the industry in which the company operates (especially if it is a bank or a financial institution). Tagetik works better in the context in which there is a clear understanding of the business and its operations. This consciousness leads to a better definition of the main reporting needs and helps to create a better set of data. In any case, the assistance of a qualified consultant is a value added service.
Read Alessandro Mantini's full review
No photo available
January 31, 2018

Consolidate with CCH Tagetik

Verified User
Score 8 out of 10
Vetted Review
Verified User
Review Source
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
Mostly for companies with complicated consolidations.
Read this authenticated review
Bobbi Miller profile photo
June 15, 2017

Tagetik - Great product!

Bobbi Miller
Score 8 out of 10
Vetted Review
Verified User
Review Source
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
I think any company could use Tagetik in some way shape or form. They offer so many products it would be hard to find something that wouldn't work for any company, large or small.
Read Bobbi Miller's full review
Cesare Schiarea profile photo
March 28, 2017

1 Solution (not products) to manage Corporate Business

Cesare Schiarea
Score 8 out of 10
Vetted Review
Verified User
Review Source
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.

It's well suited to implement a solution that does not require a calculation engine and stochastic approach. For example to manage closing for an accounting department and to manage the repository for IFRS requirements. It's very powerful for CFO needs. Tagetik is also well suited to provide collaborative disclosure management applications.

Today it's not appropriate to provide solutions in the risk management area.

Read Cesare Schiarea's full review
Giosue Cusumano profile photo
May 16, 2017

Tagetik a fantastic tool for CPM solutions

Giosue Cusumano
Score 9 out of 10
Vetted Review
Verified User
Review Source
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 very good to address any of our CPM processes including budgeting, forecasting, and 5-year plan. We recommend it.
Read Giosue Cusumano's full review
Arshak Shamoun profile photo
January 06, 2017

Tagetik, what else.

Arshak Shamoun
Score 8 out of 10
Vetted Review
Verified User
Review Source
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.
As stated previously, Tagetik is very usefull in using for financial reporting. However, other scenarios are difficult to mention, since we haven't used Tagetik for other purposes to have an opinion on that. Nevertheless, as far as I know, it cannot be used as a CRM package, which does not have to be a disadvantage, but more an advantage. But at the same time, yes, it is less appropriate as a CRM system.
Read Arshak Shamoun's full review
Mario Cinelli profile photo
October 03, 2016

Enjoy and think better

Mario Cinelli
Score 10 out of 10
Vetted Review
Verified User
Review Source
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
  • 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.
I will deepen my knowledge: ease of development, development times, completeness of the application, independence from the software maker at the end of project.
Read Mario Cinelli's full review
Susan Heffern profile photo
April 27, 2016

Tagetik at a Glance

Susan Heffern
Score 10 out of 10
Vetted Review
Verified User
Review Source
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.
Tagetik is very suited for consolidation but not appropriate for GL detail.
Read Susan Heffern's full review
John Torley profile photo
April 12, 2016

Tagetik allows a limited financial staff to do more

John Torley
Score 10 out of 10
Vetted Review
Verified User
Review Source
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.
I have found Tagetik to greatly help in the distribution of worksheets and reports for utilizing a security hierarchy and report or data input template. Managers/directors can open a standard form that will pull in only data that he or she has the rights to. We have also been able to provide meaningful productivity reports. We now pull in payroll data from the payroll system and revenue and statistical data from our patient accounting system. Tagetik then marries the data from the sub-systems and produces a nice report available for all departments.
Read John Torley's full review
Buta Biring profile photo
July 21, 2016

It's alright really

Buta Biring
Score 6 out of 10
Vetted Review
Verified User
Review Source
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
How expensive is it?
Can the product manage existing processes?
Read Buta Biring's full review
Steve Harris FCMA CGMA profile photo
March 03, 2016

Loads of potential!

Steve Harris FCMA CGMA
Score 8 out of 10
Vetted Review
Verified User
Review Source
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!
Tagetik is well suited to rapidly evolving businesses due to the ease with which hierarchies can be manipulated.
Read Steve Harris FCMA CGMA's full review
Daniel Rizzo profile photo
September 25, 2015

Tagetik Review

Daniel Rizzo
Score 7 out of 10
Vetted Review
Verified User
Review Source
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.
I really think that Tagetik could be utilized by a wide range of companies. I do not think that this program is specific to any one industry or size of company. I think the level of customization that is required is also something to keep in mind. Tagetik was very willing to work with us to suit our company specific needs.
Read Daniel Rizzo's full review
Andrea Corsini profile photo
August 31, 2015

Tagetik: your needs, its solution

Andrea Corsini
Score 9 out of 10
Vetted Review
Verified User
Review Source
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
Tagetik is absolutely well suited for all scenarios of statutory consolidation, economic budgeting and forecasting. It can have a lot of data regarding the single project and not only for legal entity and this is a MUST today. It's easy to use, and you don't need any action from the IT department for reporting set up. It could be improved in regards to financial budgeting and forecasting.
Read Andrea Corsini's full review
Bjørn Born Sylvest profile photo
August 26, 2015

Excellent CPM use Tagetik

Bjørn Born Sylvest
Score 10 out of 10
Vetted Review
Verified User
Review Source
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.
We have not found any processes where Tagetik comes too short.
Read Bjørn Born Sylvest's full review
Bob Cooper profile photo
August 20, 2015

Tagetik - the Cuprinol of Financial reporting solutions - does exactly what it says on the tin

Bob Cooper
Score 10 out of 10
Vetted Review
Verified User
Review Source
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.

Like most solutions you need to really understand what you are looking to deliver and ensure that your data structures are well thought out - Tagetik consultants will help with this.

Do you have sufficient internal resources to work with the Tagetik consultants during the implementation?

Don't set unrealistic implementation timetables. This is a complex extremely powerful product so don't rush things or you will not get delivery of the benefits.

Read Bob Cooper's full review
Alec Alvino profile photo
June 30, 2014

Tagetik Review

Alec Alvino
Score 7 out of 10
Vetted Review
Verified User
Review Source
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
Tagetik is well suited for companies that provide annual documents for multiple entities, where each of the documents are similar to each other, such as they all have the same introduction or chart. Tagetik is able to provide an effective solution so that all of the documents are linked together.
Read Alec Alvino's full review
No photo available
June 02, 2017

Tagetik a reliable software for your business

Verified User
Score 9 out of 10
Vetted Review
Verified User
Review Source
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
Tagetik is perfect for the consolidation process across different processes (monthly/weekly closing, forecasting, budgeting, and planning).
Read this authenticated review
No photo available
May 19, 2017

Smart and helpfull software, that can help you in managing your business processes

Verified User
Score 8 out of 10
Vetted Review
Verified User
Review Source
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.
I think that Tagetik reporting and ETL modules are work very well. Thanks to its user friendly Excel client I can develop reports by my self.
Read this authenticated review
No photo available
December 22, 2016

Smart and effective

Verified User
Score 7 out of 10
Vetted Review
Verified User
Review Source
Tagetik is being used by the Administrative department. It addresses the Group consolidation process and the data transfer to the management control reporting.
  • The reporting with use of Tagetik has become faster and more effective.
  • You can organize the report fitting the users needs.
  • The consolidation process works well.
  • A good thing is that the consolidator can follow step by step the data entry process of the subsidiaries.
  • The online guide is poor of contents. It could be good for a beginner but it lacks of specific topics. In particular for CDM's section.
Tagetik is well suited to a medium large company with many little (commercial) subsidiaries. It becomes less appropriate in smaller company, in my opinion.
Read this authenticated review
No photo available
October 29, 2015

Our new "finance" Portal

Verified User
Score 10 out of 10
Vetted Review
Verified User
Review Source
We use Tagetik for sales planning and rolling forecasts across the whole organization. Today we can see at any time the status of our planning.
  • Quick access to all my Tasks and always up to date what is next.
  • Every change or simulation in planning, forecasting or budgeting now gives us immediate insight into the changes in the P&L AND balance sheet.
  • Tagetik makes it easy to collaborate now.
  • Reporting is very flexible with Tagetik and therefore extensive in the preparation.
I am not aware of any restriction in which Tagetik could not be used.
Read this authenticated review

CCH Tagetik Scorecard Summary

Likelihood to Recommend (36)
8.5
Likelihood to Renew (6)
6.8
Usability (3)
6.6
Support (4)
7.3
Implementation (2)
6.4

Feature Scorecard Summary

Long-term financial planning (21)
9.2
Financial budgeting (21)
9.3
Forecasting (22)
8.2
Scenario modeling (18)
9.2
Management reporting (25)
8.6
Financial data consolidation (21)
8.1
Journal entries and reports (16)
8.2
Multi-currency management (14)
9.3
Intercompany Eliminations (19)
8.5
Minority Ownership (16)
7.3
Local and consolidated reporting (22)
7.6
Detailed Audit Trails (17)
8.0
Financial Statement Reporting (21)
8.9
Management Reporting (25)
8.9
Excel-based Reporting (25)
9.3
Automated board and financial reporting (19)
8.9
XBRL support for regulatory filing (9)
7.3
Personalized dashboards (15)
8.6
Color-coded scorecards (12)
8.0
KPIs (14)
8.6
Cost and profitability analysis (12)
9.3
Key Performance Indicator setting (14)
8.6
Benchmarking with external data (10)
7.4
Flat file integration (22)
9.6
Excel data integration (23)
9.6
Direct links to 3rd-party data sources (16)
6.4

About CCH Tagetik

Tagetik is a unified software platform designed to improve an organization’s financial processes including budgeting & planning, forecasting, strategic planning, financial consolidation, and financial reporting & disclosure management. Tagetik can be deployed as SaaS, private cloud, or on-premise. The vendor says that its flexibility to seamlessly migrate from one to the other means that they can match a company's strategy today or into the future. According to the vendor, over 850 Tagetik customers around the globe have increased organizational efficiencies, reduced risk, and saved money with Tagetik.
Categories:  Accounting & Budgeting,  Corporate Performance Management (CPM)

CCH Tagetik Features

Budgeting, Planning, and Forecasting Features
Has featureLong-term financial planning
Has featureFinancial budgeting
Has featureForecasting
Has featureScenario modeling
Has featureManagement reporting
Consolidation and Close Features
Has featureFinancial data consolidation
Has featureJournal entries and reports
Has featureMulti-currency management
Has featureIntercompany Eliminations
Has featureMinority Ownership
Has featureLocal and consolidated reporting
Has featureDetailed Audit Trails
FInancial Reporting and Compliance Features
Has featureFinancial Statement Reporting
Has featureManagement Reporting
Has featureExcel-based Reporting
Has featureAutomated board and financial reporting
Has featureXBRL support for regulatory filing
Analytics Features
Has featurePersonalized dashboards
Has featureColor-coded scorecards
Has featureKPIs
Has featureCost and profitability analysis
Has featureKey Performance Indicator setting
Has featureBenchmarking with external data
Integration Features
Has featureFlat file integration
Has featureExcel data integration
Has featureDirect links to 3rd-party data sources
BI Standard Reporting Features
Does not have featurePixel Perfect reports
Does not have featureCustomizable dashboards
Does not have featureReport Formatting Templates
Ad-hoc Reporting Features
Does not have featureDrill-down analysis
Does not have featureFormatting capabilities
Does not have featurePredictive modeling
Does not have featureIntegration with R or other statistical packages
Does not have featureReport sharing and collaboration
Report Output and Scheduling Features
Does not have featurePublish to Web
Does not have featurePublish to PDF
Does not have featureReport Versioning
Does not have featureReport Delivery Scheduling
Data Discovery and Visualization Features
Does not have featurePre-built visualization formats (heatmaps, scatter plots etc.)
Does not have featureLocation Analytics / Geographic Visualization
Does not have featurePredictive Analytics
Does not have featureSupport for Machine Learning models
Does not have featurePattern Recognition and Data Mining
Does not have featureIntegration with R or other statistical packages
Access Control and Security Features
Does not have featureMulti-User Support (named login)
Does not have featureRole-Based Security Model
Does not have featureMultiple Access Permission Levels (Create, Read, Delete)
Does not have featureReport-Level Access Control
Does not have featureTable-Level Access Control (BI-layer)
Does not have featureField-Level Access Control (BI-layer)
Does not have featureSingle Sign-On (SSO)
Mobile Capabilities Features
Does not have featureResponsive Design for Web Access
Does not have featureDedicated iOS Application
Does not have featureDedicated Android Application
Does not have featureDashboard / Report / Visualization Interactivity on Mobile
Additional Features
Has featureUsability - With a brand new user interface (UI), Tagetik delivers an enhanced user experience allowing for easier navigation.
Has featureMobility - Tagetik utilizes HTML 5 to allow users to interact with Tagetik through any mobile device. With the introduction of Tagetik Anywhere technology, users can take advantage of this functionality with NO additional work.
Has featureVelocity - Tagetik has added in-memory technology to make the engine even faster. In Tagetik, the user has the option to process Allocations, ETL or MDX calculations in memory, significantly speeding up processing.
Has featureFlexibility - Tagetik's open architecture allows for integration with the Microsoft technology stack, connectivity with strong SAP environments, and a new connector for Qlik.

CCH Tagetik Integrations

SAP HANA, Microsoft Office Suite, Qlik

CCH Tagetik Competitors

Adaptive Insights, a Workday company, Prophix, Anaplan, IBM Cognos, Board, Axiom EPM, Longview, Vena Solutions, Adaptive Insights, Oracle Hyperion, Host Analytics, OneStream

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 VersionPaid Version
Social Media
Video Tutorials / Webinar
Phone
Email
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