April 26, 2019
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.JPEGWolters KluwerTagetik: What else!2019-04-27T04:12:57.388ZWe 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 CRMMauro Del QuondamCCH Tagetik provides a stable and secure platform for detailed planning and budgeting2018-12-20T20:12:52.360ZWe 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, BitbucketVerified UserCCH Tagetik CPM for Planning2018-04-23T17:04:29.265ZTagetik 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 BIElisa MevioGreat Consolidation Tool2018-03-02T17:21:10.800ZWe 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)Brooke WardExperience with Tagetik CPM for banking planning2017-03-29T15:36:55.623ZTagetik 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,7Stefano BenettiFlexible. Scalable. Consistent. The one stop solution for your financial reporting needs.2015-09-21T19:40:13.514ZTagetik 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,8Alessandro MantiniConsolidate with CCH Tagetik2018-01-31T16:33:11.121ZWe 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 savingsVerified UserTagetik - Great product!2017-06-15T20:22:23.228ZTagetik 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 HRMSBobbi Miller1 Solution (not products) to manage Corporate Business2017-03-28T14:52:06.340ZTagetik 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 MacessCesare SchiareaTagetik a fantastic tool for CPM solutions2017-05-16T21:37:17.128ZWe 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 processesGiosue CusumanoTagetik, what else.2016-06-27T14:48:29.781ZTagetik 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.Arshak ShamounEnjoy and think better2015-11-03T15:50:02.277ZTagetik 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.,Mario CinelliTagetik at a Glance2016-04-27T15:41:03.986ZWe 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,10Susan HeffernTagetik allows a limited financial staff to do more2016-04-12T20:39:45.443ZTagetik 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.John TorleyIt's alright really2015-09-17T17:04:45.330ZTagetik 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,Buta BiringLoads of potential!2016-03-03T18:00:55.791ZTagetik 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.Steve Harris FCMA CGMATagetik Review2015-09-25T18:08:41.808ZTagetik 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 TM1Daniel RizzoTagetik: your needs, its solution2015-08-31T15:46:10.944ZTagetik 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%,Andrea CorsiniExcellent CPM use Tagetik2015-08-26T19:40:50.826ZWe 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.Bjørn Born SylvestTagetik - the Cuprinol of Financial reporting solutions - does exactly what it says on the tin2015-08-20T15:27:50.110ZWe 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,40,3Bob CooperTagetik Review2014-06-30T14:31:15.918ZTagetik 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,,7Alec AlvinoTagetik a reliable software for your business2017-06-02T20:45:12.990ZTagetik 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 EnterpriseVerified UserSmart and helpfull software, that can help you in managing your business processes2017-05-19T18:32:48.548ZTagetik 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.,8Verified UserSmart and effective2016-07-20T13:34:51.985ZTagetik 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 databaseVerified UserOur new "finance" Portal2015-10-29T16:26:38.578ZWe 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.Verified User
Windows, Linux, Mac
CCH Tagetik
36 Ratings
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