Tagetik allows a limited financial staff to do more TagetikUnspecified8.536101
John Torley profile photo
April 12, 2016

Tagetik allows a limited financial staff to do more

Score 10 out of 101
Vetted Review
Verified User
Review Source

Overall Satisfaction with Tagetik

Tagetik 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.
  • 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.
Tagetik uses a Excel interface which makes it familiar but adds the benefits of a central database. At the time we were evaluating, we were also looking for a cost accounting system. We were not able to find one package that provided budgeting, forecasting, reporting and cost accounting at anywhere near the price.
I have found Tagetik to greatly help in the distribution of worksheets and reports for utilizing a security hierarchy and report or data input template. Managers/directors can open a standard form that will pull in only data that he or she has the rights to. We have also been able to provide meaningful productivity reports. We now pull in payroll data from the payroll system and revenue and statistical data from our patient accounting system. Tagetik then marries the data from the sub-systems and produces a nice report available for all departments.

CCH Tagetik Feature Ratings

Long-term financial planning
Not Rated
Financial budgeting
Scenario modeling
Management reporting
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
Financial Statement Reporting
Management Reporting
Excel-based Reporting
Automated board and financial reporting
Not Rated
XBRL support for regulatory filing
Not Rated
Personalized dashboards
Not Rated
Color-coded scorecards
Not Rated
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
Flat file integration
Excel data integration
Direct links to 3rd-party data sources

Tagetik Support

Almost always gotten prompt resolution
Quick Resolution
Good followup
Knowledgeable team
Problems get solved
Kept well informed
No escalation required
Immediate help available
Support understands my problem
Support cares about my success
Quick Initial Response
Yes - Fix was to be put into a update.
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.