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Get and maintain visibility on your financial data with CCH Tagetik
March 11, 2021

Get and maintain visibility on your financial data with CCH Tagetik

Lionel Maillet | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User

Overall Satisfaction with Wolters Kluwer (CCH Tagetik)

CCH Tagetik is used by approx 100 users in central and decentralized business units, all located in France. It is supposed to simplify and accelerate 2 business process : budgeting and enterprise performance (actuals vs budget). Our budget process is a combination of bottom-up and top-down ; CCH Tagetik is expected to make this process more fluid, as seamless as possible. CCH Tagetik is as well expected to industrialize our monthly reporting.
  • Processes are clearly described in CCH Tagetik ; users can easily find where they are and which action they have to make
  • Interaction with Excel is really fluid ; the Excel add-in is easy to deploy and to updgrade, in the hand of users. It is reliable provided the internet connection is fast.
  • Managing hierachies is obvious in CCH Tagetik. Hierarchies are fundamental for a good reporting ; CCH Tagetik has obviously a deep experience of this feature.
  • SaaS : our experience with CCH Tagetik is of only 1 year, but it technically performs well, the system is reponsive, no shut-down, and updates (every quarter) do not disturb production.
  • AIH seems to be able to manage very large quantity of data, and to provide advanced analysis functionalities. We did not have time to explore them.
  • Techical tools : ETLs are well structured, logical and understandable, but their interface is quite out-dated. Compared to pure ETLs like Alteryx, we long for a graphical interface. The HTML5 query interface (SQL) is too slow and too rough : hints on data model or field names would be appreciated.
  • From a personal point-of-view, I would prefer a more compact web-interface, with smaller policies and other colours. OneStream or IBM analytics seem better on this aspect. It is subjective.
  • Our business can be audited many years later. CCH Tagetik provides no particular improvement to restore data-sets that where used in the past (fact tables and dimensions), whilst avoiding to keep the old dimension values in the current application.
  • Technical performances fall dramatically when trying to include too many dimensions in a report (even when using filters) ; it is difficult to export your data in flat files with the standard reporting tool. Switch to technical tools (SQL scripts, etc) are required for a reasonable time response.
  • CCH Tagetik makes our data model more transparent a logical ; data are easier to share
  • Too early to estimate a ROI
We have had a 3-year experience with Anaplan for budgeting and
performance management on part of our business. Anaplan is brilliant
provided you have technical skills to manage multi-dimensional data, and
provided you don't have to store large amounts of data (gigabytes are
expensive when stored in-memory). There is no use storing your budget in
Anaplan once you have calculated it. My opinion is that Anaplan is
great if you proceed to frequent (daily or weekly) calculations, not for
a monthly analysis. From this point of view, CCH Tagetik is more
appropriate for Enterprise Management Performance.
After migration to HTML5, user experience could be improved on administration tools. Reporting tools are too complex for end-users (impossible to initiate them with Tagetik styles !). We had it difficult to format numbers in reports with 2 decimals, a thousand separator, and negative numbers signed with a '-' (and not in brackets, and not in red)...
Globally, CCH Tagetik is at ease when dealing with financial data provided you are confident with your master data. We use it for Enterprise Performance Management and financial data analysis, drill-down functionalities are of great help. Colleagues at SNCF appreciate the allocation module but we do not have implemented it yet.

Wolters Kluwer CCH® Tagetik Feature Ratings

7.0
Long-term financial planning
Not Rated
Financial budgeting
8
Forecasting
Not Rated
Scenario modeling
Not Rated
Management reporting
6
Not Rated
Financial data consolidation
Not Rated
Journal entries and reports
Not Rated
Multi-currency management
Not Rated
Intercompany Eliminations
Not Rated
Minority Ownership
Not Rated
Local and consolidated reporting
Not Rated
Detailed Audit Trails
Not Rated
10.0
Financial Statement Reporting
Not Rated
Management Reporting
Not Rated
Excel-based Reporting
10
Automated board and financial reporting
Not Rated
XBRL support for regulatory filing
Not Rated
6.0
Personalized dashboards
5
Color-coded scorecards
7
KPIs
6
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
9.5
Flat file integration
10
Excel data integration
9
Direct links to 3rd-party data sources
Not Rated
5.0
Pixel Perfect reports
Not Rated
Customizable dashboards
5
Report Formatting Templates
Not Rated
7.0
Drill-down analysis
8
Formatting capabilities
5
Integration with R or other statistical packages
Not Rated
Report sharing and collaboration
8
9.0
Publish to Web
9
Publish to PDF
Not Rated
Report Versioning
Not Rated
Report Delivery Scheduling
Not Rated
Not Rated
Pre-built visualization formats (heatmaps, scatter plots etc.)
Not Rated
Location Analytics / Geographic Visualization
Not Rated
Predictive Analytics
Not Rated
9.3
Multi-User Support (named login)
9
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
9
Single Sign-On (SSO)
10
Not Rated
Responsive Design for Web Access
Not Rated
Dashboard / Report / Visualization Interactivity on Mobile
Not Rated

Using Wolters Kluwer (CCH Tagetik)

ProsCons
Like to use
Relatively simple
Easy to use
Well integrated
Consistent
Quick to learn
Convenient
Feel confident using
None
  • Managing hierarchies
  • Excel add-in
  • Making a simple adhoc query is too long and requires too much training
  • ETL are powerfull but quite complex to read without IT