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Wolters Kluwer CCH® Tagetik

Wolters Kluwer CCH® Tagetik

Overview

What is Wolters Kluwer CCH® Tagetik?

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.

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Recent Reviews

The one and only CPM tool

10 out of 10
June 29, 2023
Support reduction of month end closing time
Improve data quality
Directly integrate with diversified ERP landscape
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Tagetik the good CPM tool

8 out of 10
March 16, 2022
We are a consulting company and implement Wolters Kluwer CCH Tagetik for our customers. Mainly we implement the system, by setting up the …
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Usage of CCH Tagetik within Pharma

10 out of 10
March 08, 2022
The company strategy and organizational model have changed, together with a newly implemented TO-BE primary process. Current systems were …
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My experience with Tagetik

8 out of 10
January 14, 2022
We are a consulting company and implement the software for other organizations. We also support our customers. For sure we use Wolters …
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Read all reviews

Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Popular Features

View all 48 features
  • Excel data integration (42)
    9.0
    90%
  • Management Reporting (45)
    8.9
    89%
  • Management reporting (45)
    8.6
    86%
  • Excel-based Reporting (47)
    7.9
    79%

Reviewer Pros & Cons

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Pricing

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N/A
Unavailable

What is Wolters Kluwer CCH® Tagetik?

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.

Entry-level set up fee?

  • No setup fee

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

Would you like us to let the vendor know that you want pricing?

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Features

BI Standard Reporting

Standard reporting means pre-built or canned reports available to users without having to create them.

8.2
Avg 8.0

Ad-hoc Reporting

Ad-Hoc Reports are reports built by the user to meet highly specific requirements.

8.1
Avg 8.3

Report Output and Scheduling

Ability to schedule and manager report output.

8.1
Avg 8.2

Data Discovery and Visualization

Data Discovery and Visualization is the analysis of multiple data sources in a search for patterns and outliers and the ability to represent the data visually.

8.4
Avg 7.6

Access Control and Security

Access control means being able to determine who has access to which data.

8.3
Avg 8.7

Mobile Capabilities

Support for mobile devices like smartphones and tablets.

7
Avg 8.0

Budgeting, Planning, and Forecasting

These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning

8.3
Avg 8.3

Consolidation and Close

Consolidation of data from multiple entities with currency management, reporting and audit trails.

8.3
Avg 8.0

Financial Reporting and Compliance

Financial statements and regulatory filings

8.4
Avg 8.2

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

7.9
Avg 8.0

Integration

Ability to integrate with external applications.

8.4
Avg 8.3
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Product Details

What is Wolters Kluwer CCH® Tagetik?

Wolters Kluwer addresses the complex challenges that face the Office of the CFO with CCH® Tagetik performance management software solutions. CCH Tagetik is designed to enable digital transformation and drive strategy with financial processes and data in a unified platform — owned by Finance.

Companies can use CCH Tagetik solutions to save time, lower costs and reduce risk. Customers 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 comprehensive unified platform that connects finance and operations and streamlines consolidation & close, planning, profitability, reporting & analytics, disclosures and regulatory compliance. Embedded AI and machine learning (ML) provides out-of-box predictive planning and a foundation for the future. 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 1,300 customers globally as current users of CCH Tagetik.

Wolters Kluwer CCH® Tagetik Features

Budgeting, Planning, and Forecasting Features

  • Supported: Long-term financial planning
  • Supported: Financial budgeting
  • Supported: Forecasting
  • Supported: Scenario modeling
  • Supported: Management reporting

Consolidation and Close Features

  • Supported: Financial data consolidation
  • Supported: Journal entries and reports
  • Supported: Multi-currency management
  • Supported: Intercompany Eliminations
  • Supported: Minority Ownership
  • Supported: Local and consolidated reporting
  • Supported: Detailed Audit Trails

Financial Reporting and Compliance Features

  • Supported: Financial Statement Reporting
  • Supported: Management Reporting
  • Supported: Excel-based Reporting
  • Supported: Automated board and financial reporting
  • Supported: XBRL support for regulatory filing

Analytics and Reporting Features

  • Supported: Personalized dashboards
  • Supported: Color-coded scorecards
  • Supported: KPIs
  • Supported: Cost and profitability analysis
  • Supported: Key Performance Indicator setting
  • Supported: Benchmarking with external data

Integration Features

  • Supported: Flat file integration
  • Supported: Excel data integration
  • Supported: Direct links to 3rd-party data sources

BI Standard Reporting Features

  • Supported: Pixel Perfect reports
  • Supported: Customizable dashboards
  • Supported: Report Formatting Templates

Ad-hoc Reporting Features

  • Supported: Drill-down analysis
  • Supported: Formatting capabilities
  • Supported: Predictive modeling
  • Supported: Integration with R or other statistical packages
  • Supported: Report sharing and collaboration

Report Output and Scheduling Features

  • Supported: Publish to Web
  • Supported: Publish to PDF
  • Supported: Report Versioning
  • Supported: Report Delivery Scheduling

Data Discovery and Visualization Features

  • Supported: Pre-built visualization formats (heatmaps, scatter plots etc.)
  • Supported: Location Analytics / Geographic Visualization
  • Supported: Predictive Analytics
  • Supported: Support for Machine Learning models
  • Supported: Pattern Recognition and Data Mining
  • Supported: Integration with R or other statistical packages

Access Control and Security Features

  • Supported: Multi-User Support (named login)
  • Supported: Role-Based Security Model
  • Supported: Multiple Access Permission Levels (Create, Read, Delete)
  • Supported: Report-Level Access Control
  • Supported: Table-Level Access Control (BI-layer)
  • Supported: Field-Level Access Control (BI-layer)
  • Supported: Single Sign-On (SSO)

Mobile Capabilities Features

  • Supported: Responsive Design for Web Access
  • Supported: Dashboard / Report / Visualization Interactivity on Mobile

Additional Features

  • Supported: Usability - With a brand new user interface (UI), CCH Tagetik delivers an enhanced user experience allowing for easier navigation.
  • Supported: Mobility - CCH Tagetik utilizes HTML 5 to allow users to interact with CCH Tagetik through any mobile device. With the introduction of CCH Tagetik Anywhere technology, users can take advantage of this functionality with NO additional work.
  • Supported: Velocity - CCH Tagetik has added in-memory technology to make the engine faster. In CCH Tagetik, the user has the option to process Allocations, ETL or MDX calculations in memory, significantly speeding up processing.
  • Supported: Flexibility - Tagetik's open architecture allows for integration with the Microsoft technology stack, connectivity with strong SAP environments, and Qlik.
  • Supported: CCH Tagetik combines its unified platform and SAP HANA’s in-memory technology to provide insights faster.

Wolters Kluwer CCH® Tagetik Screenshots

Screenshot of Homepage

Wolters Kluwer CCH® Tagetik Video

Visit https://vimeo.com/856502165/538aa9c442 to watch Wolters Kluwer CCH® Tagetik video.

Wolters Kluwer CCH® Tagetik Technical Details

Deployment TypesOn-premise, Software as a Service (SaaS), Cloud, or Web-Based
Operating SystemsWindows, Linux, Mac
Mobile ApplicationApple iOS, Android, Windows Phone
Supported CountriesAll regions
Supported LanguagesEnglish, Spanish, Italian, French

Frequently Asked Questions

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.

Anaplan, SAP Analytics Cloud, and SAP BPC (Business Planning and Consolidation) are common alternatives for Wolters Kluwer CCH® Tagetik.

Reviewers rate Multi-currency management highest, with a score of 9.1.

The most common users of Wolters Kluwer CCH® Tagetik are from Enterprises (1,001+ employees).
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Comparisons

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Reviews and Ratings

(69)

Attribute Ratings

Reviews

(1-2 of 2)
Companies can't remove reviews or game the system. Here's why
Alessandro Mantini | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User
Incentivized
CCH 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, CCH 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. We have also started a new project of ESEF filing automation with the implementation of CoreFiling add-on for CDM.
  • 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 CCH 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.
CCH 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). CCH 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.
Budgeting, Planning, and Forecasting (5)
52%
5.2
Long-term financial planning
60%
6.0
Financial budgeting
60%
6.0
Forecasting
60%
6.0
Scenario modeling
N/A
N/A
Management reporting
80%
8.0
Consolidation and Close (7)
75.71428571428571%
7.6
Financial data consolidation
90%
9.0
Journal entries and reports
90%
9.0
Multi-currency management
N/A
N/A
Intercompany Eliminations
100%
10.0
Minority Ownership
60%
6.0
Local and consolidated reporting
90%
9.0
Detailed Audit Trails
100%
10.0
Financial Reporting and Compliance (5)
84%
8.4
Financial Statement Reporting
90%
9.0
Management Reporting
80%
8.0
Excel-based Reporting
90%
9.0
Automated board and financial reporting
80%
8.0
XBRL support for regulatory filing
80%
8.0
Analytics and Reporting (6)
N/A
N/A
Personalized dashboards
N/A
N/A
Color-coded scorecards
N/A
N/A
KPIs
N/A
N/A
Cost and profitability analysis
N/A
N/A
Key Performance Indicator setting
N/A
N/A
Benchmarking with external data
N/A
N/A
Integration (3)
83.33333333333334%
8.3
Flat file integration
90%
9.0
Excel data integration
90%
9.0
Direct links to 3rd-party data sources
70%
7.0
BI Standard Reporting (3)
N/A
N/A
Pixel Perfect reports
N/A
N/A
Customizable dashboards
N/A
N/A
Report Formatting Templates
N/A
N/A
Ad-hoc Reporting (4)
60%
6.0
Drill-down analysis
80%
8.0
Formatting capabilities
80%
8.0
Integration with R or other statistical packages
N/A
N/A
Report sharing and collaboration
80%
8.0
Report Output and Scheduling (4)
42.5%
4.3
Publish to Web
N/A
N/A
Publish to PDF
90%
9.0
Report Versioning
80%
8.0
Report Delivery Scheduling
N/A
N/A
Data Discovery and Visualization (3)
N/A
N/A
Pre-built visualization formats (heatmaps, scatter plots etc.)
N/A
N/A
Location Analytics / Geographic Visualization
N/A
N/A
Predictive Analytics
N/A
N/A
Access Control and Security (4)
90%
9.0
Multi-User Support (named login)
90%
9.0
Role-Based Security Model
90%
9.0
Multiple Access Permission Levels (Create, Read, Delete)
90%
9.0
Single Sign-On (SSO)
90%
9.0
Mobile Capabilities (2)
N/A
N/A
Responsive Design for Web Access
N/A
N/A
Dashboard / Report / Visualization Interactivity on Mobile
N/A
N/A
  • 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.
With reference to those products, CCH Tagetik showed to be more flexible and had minor impacts on user interface experience, allowing us to obtain the reporting package we were looking for.
Tagetik has a complex engine which could be easily managed by a web-based interface and an Excel .net macro which allows a quick learning of the application's main functions. Even everyday system maintenance is very easy to manage too, once you understand the underlying consolidation model. In wider terms, once you made the first configuration and you feed the data model, many annoying routines could be easily automated, with a great gain in terms of time spent on application maintenance.
96
The majority of CCH Tagetik users is from administration and accounting department as well as management accounting department. They have a typical contributors role, while the staff who manage the system is really concentrated on a dozen people.
2
2 people are in charge of the internal support for the application. They are followed by a team of consultants who are responsible for massive and structural improvements.
  • 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.
The renewal of our use of CCH Tagetik is stricly linked to the evolution of our reporting needs (especially those linked to compliance reasons). The implementation of new releases which could take benefit of state-of-the-art technologies (e.g. big data or mobile) could be done at a moderate pace in order to empower our user and make them confident about the potential and the performances of the platform.
Yes
We replaced our old in-house developed system (which was based on MS Access). At that time we strongly needed a solution that could support our growing consolidation perimeter and our requests of automation in terms of data collecting, data management and reporting.
At a first glance, the look & feel of CCH Tagetik give us the impression of a dynamic application which could fit to our reporting needs with an intuitive Excel based interface.
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
Ernst & Young
Yes
The implementation was concerning the consolidated annual report as well as consolidated management report activities. It was a classical implementation process with an AS-IS analysis followed by a TO-BE section. Then we started implementing the database for the annual report, then we expanded it with the dimensions of the management report. After that we make a test of the main consolidation routines on previous year's results and started to build the reporting set. At the end we make some training session to contributors then started the first consolidation cycle with CCH Tagetik.
Change management was a big part of the implementation and was well-handled
As any other change management circumstance, you need a strong internal sponsorship in order to build consensus around the project. Then during the implementation process you should think everytime at what you would like to receive from your CPM application instead of thinking about what the previous application was still doing for you.
  • 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)
We had some change management issues that are still unresolved, but they were not caused by the application itself. As any other innovative and performing application CCH Tagetik requires a strong change of your actual mindset in order to achieve the requested results.
  • Online training
  • in-person training
CCH Tagetik consultants are skilled, prepared and really helpful. They can also count on a network of external partners which we have also take advantage of.
Online training is the only form of training we could deploy during the pandemic. This service has been nonethless delivered with the same standards and the same results of the traditional training procedures.
CCH Tagetik offers many different kind of support, from call center to dedicated consultants. The way you choose to implement the application affects the kind of support you have to choose. In any case, it's almost certain that you will get the best answer for your specific needs.
Not Sure
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 CCH 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
A good and performing scalability both on a geographical and a legal entity scale. The link with MS Office suite allows an easy deployment of the application, especially for contributors.
CCH Tagetik has alwyas been there in case we need help. In almost 20 years of commercial relationship, I have no evidence of times in which they were not available to answer a question or to solve an issue linked to their products, timely and efficiently.
As you can see, speed depends on the applications but also on the hardware that runs them. As far as CCH Tagetik improved, we saw the benefit of a cloud-based solution which could solve many speed performance issues.
At the time we started to do business with them, CCH Tagetik was a family run company which grew up year after year. Despite the fact that today it has become a big and influencial player on the market, we are still experiencing the same easy and familiar relationship with the firm.
CCH Tagetik didn't leave us after the sale and the implementation process. It's has been a reliable partner for more than 15 years, and it's even today.
Susan Heffern | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User
We use CCH 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.
  • CCH 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 CCH 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 CCH Tagetik that really understands our business needs so they can help guide us at various stages on implementing parts of CCH Tagetik that we may not be aware of.
CCH Tagetik is very suited for consolidation but not appropriate for GL detail.
Budgeting, Planning, and Forecasting (5)
80%
8.0
Long-term financial planning
100%
10.0
Financial budgeting
100%
10.0
Forecasting
100%
10.0
Scenario modeling
N/A
N/A
Management reporting
100%
10.0
Consolidation and Close (7)
90%
9.0
Financial data consolidation
100%
10.0
Journal entries and reports
100%
10.0
Multi-currency management
100%
10.0
Intercompany Eliminations
30%
3.0
Minority Ownership
100%
10.0
Local and consolidated reporting
100%
10.0
Detailed Audit Trails
100%
10.0
Financial Reporting and Compliance (5)
100%
10.0
Financial Statement Reporting
100%
10.0
Management Reporting
100%
10.0
Excel-based Reporting
100%
10.0
Automated board and financial reporting
100%
10.0
XBRL support for regulatory filing
100%
10.0
Analytics and Reporting (6)
83.33333333333334%
8.3
Personalized dashboards
100%
10.0
Color-coded scorecards
100%
10.0
KPIs
N/A
N/A
Cost and profitability analysis
100%
10.0
Key Performance Indicator setting
100%
10.0
Benchmarking with external data
100%
10.0
Integration (3)
100%
10.0
Flat file integration
100%
10.0
Excel data integration
100%
10.0
Direct links to 3rd-party data sources
100%
10.0
BI Standard Reporting
N/A
N/A
Ad-hoc Reporting
N/A
N/A
Report Output and Scheduling
N/A
N/A
Data Discovery and Visualization
N/A
N/A
Access Control and Security
N/A
N/A
Mobile Capabilities
N/A
N/A
  • Gave us a tool that can absolutely grow with us to help multi phase implementations.
  • A significant time savings in terms of the amount of time we used to spend running reports vs. the time we spend now. Unbelievable improvement.
  • Gives us the option to use CCH Tagetik to solve business problems that perhaps we didn't have when we implemented CCH Tagetik. It gives us options without the possibility of implementing a whole other software package.
Are all very different. CCH Tagetik was more flexible and diverse and has the ability to grow with future unforeseen business issues.
I see this product as being multi functional
30
General ledger and reporting including quarterly and annual SEC reporting and audit collaboration.
10
Finance, IT, data analysts, project coordinators,
  • Consolidation
  • Budgeting
  • Statistical
  • Statutory reporting
  • Dashboarding
  • Board reporting
  • Fixed asset planning
  • HR planning
  • Board reporting
We have a lot invested in this product and want to use it as much as we can.
Yes
FRx because it was becoming unsupported.
  • Price
  • Product Features
  • Product Usability
  • Product Reputation
  • Vendor Reputation
  • Existing Relationship with the Vendor
  • Positive Sales Experience with the Vendor
  • Analyst Reports
Product usability. Ability to be a solution for future business needs.
Wouldn't change a thing.
  • Implemented in-house
Yes
First consolidation then budgeting
Change management was a small part of the implementation and was well-handled
Getting used to the new way
  • Just getting used to writing reports
  • Time to find from regular job to implement
Get a project manager and have someone on the team who knows your databases and systems inside and out.
Have never had a reason to give a negative rating
Yes
If and only if we need expert assistance and cannot accomplish with our internal staff
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
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