CCH Tagetik Review
September 25, 2015

CCH Tagetik Review

Daniel Rizzo | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User
Review Source

Software Version

4.3.2

Modules Used

  • Repository
  • Dev
  • Prod
  • All

Overall Satisfaction with Wolters Kluwer (CCH Tagetik)

CCH 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 CCH Tagetik. The parking lot managers and sales teams use CCH Tagetik to see the profitability of their lots. CCH 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, CCH 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 CCH 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.
  • 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.
I found the Excel piece of IBM Cognos TM1 to be easier to use than CCH Tagetik. It was much easier to customize the data being pulled and the feel of the reports because of that. Other than that, CCH Tagetik has been more user friendly than IBM Cognos TM1. Navigating within the application is much easier. IBM Cognos TM1 had a lot of issues with certain modules that could not be open concurrently; this would often lead to phantom data being entered in the system. I have not had these issues with CCH Tagetik.
I really think that CCH 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. CCH Tagetik was very willing to work with us to suit our company specific needs.

Wolters Kluwer CCH® Tagetik Feature Ratings

Long-term financial planning
7
Financial budgeting
8
Forecasting
8
Scenario modeling
6
Management reporting
7
Financial data consolidation
9
Journal entries and reports
8
Multi-currency management
Not Rated
Intercompany Eliminations
8
Minority Ownership
Not Rated
Local and consolidated reporting
8
Detailed Audit Trails
8
Financial Statement Reporting
8
Management Reporting
7
Excel-based Reporting
9
Automated board and financial reporting
8
XBRL support for regulatory filing
7
Personalized dashboards
7
Color-coded scorecards
Not Rated
KPIs
Not Rated
Cost and profitability analysis
8
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Flat file integration
8
Excel data integration
8
Direct links to 3rd-party data sources
Not Rated