CCH Tagetik: your needs, its solution
August 31, 2015

CCH Tagetik: your needs, its solution

Andrea Corsini | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Software Version

Tagetik 5.0

Modules Used

  • Consolidation, Budgeting&Forecasting, HSE, ERM, HR

Overall Satisfaction with Wolters Kluwer (CCH Tagetik)

CCH 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 CCH Tagetik to perform its business plan - every company in our group uses it to present its business plan. Since CCH 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%.

Pros

  • Really fast consolidation routine
  • Data Drill-down
  • Easy to use for reporting
  • Flexibility and scalabity

Cons

  • Improve financial budgeting cockpit
  • Improve some IC reconciliation report
  • Improve something regarding Equity reserves in consolidation routine
  • Improve exchange rate management DB
  • 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%
We selected CCH Tagetik because it had a very positive approach on our specific needs. To support our business requirements Astaldi needed to introduce a new paradigm in the management of our performance management and financial governance challenges. Astaldi needed to streamline the global financial processes (including monthly closure, consolidation, reporting, budgeting, financial planning, and executive dashboards). We needed to decentralize specific financial processes at a worldwide level, and unify multiple business applications within a single unified software solution.
CCH 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.

Wolters Kluwer CCH® Tagetik Feature Ratings

7.8
Long-term financial planning
7
Financial budgeting
7
Forecasting
7
Scenario modeling
8
Management reporting
10
9.0
Financial data consolidation
9
Journal entries and reports
9
Multi-currency management
9
Intercompany Eliminations
9
Minority Ownership
9
Local and consolidated reporting
9
Detailed Audit Trails
9
9.0
Financial Statement Reporting
9
Management Reporting
9
Excel-based Reporting
9
Automated board and financial reporting
9
XBRL support for regulatory filing
Not Rated
8.0
Personalized dashboards
8
Color-coded scorecards
Not Rated
KPIs
8
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
8
Benchmarking with external data
Not Rated
9.0
Flat file integration
9
Excel data integration
9
Direct links to 3rd-party data sources
9
BI Standard Reporting ()
Not Rated
Ad-hoc Reporting ()
Not Rated
Report Output and Scheduling ()
Not Rated
Data Discovery and Visualization ()
Not Rated
Access Control and Security ()
Not Rated
Mobile Capabilities ()
Not Rated

Comments

More Reviews of Wolters Kluwer CCH® Tagetik

  1. Home
  2. Corporate Performance Management (CPM) Software
  3. Wolters Kluwer CCH® Tagetik Reviews
  4. User Review of Wolters Kluwer CCH® Tagetik