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CCH Tagetik allows a limited financial staff to do more
April 12, 2016

CCH Tagetik allows a limited financial staff to do more

John Torley | TrustRadius Reviewer
Score 10 out of 10
Vetted Review
Verified User

Overall Satisfaction with Wolters Kluwer (CCH Tagetik)

CCH 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 CCH 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.
  • CCH Tagetik has allowed us to create multiple hierarchies to customize numerous reporting requirements.
  • CCH 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, CCH 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, CCH 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 CCH 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.
CCH 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.
Kronos Workforce Central, Financial Edge NXT, NextGen Healthcare Practice Management
I have found CCH 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. CCH Tagetik then marries the data from the sub-systems and produces a nice report available for all departments.

Wolters Kluwer CCH® Tagetik Feature Ratings

8.5
Long-term financial planning
Not Rated
Financial budgeting
8
Forecasting
8
Scenario modeling
8
Management reporting
10
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
9.0
Financial Statement Reporting
9
Management Reporting
9
Excel-based Reporting
9
Automated board and financial reporting
Not Rated
XBRL support for regulatory filing
Not Rated
Not Rated
Personalized dashboards
Not Rated
Color-coded scorecards
Not Rated
KPIs
Not Rated
Cost and profitability analysis
Not Rated
Key Performance Indicator setting
Not Rated
Benchmarking with external data
Not Rated
9.3
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
8
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

Wolters Kluwer (CCH Tagetik) Support

Almost always gotten prompt resolution
ProsCons
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
None
Not Sure
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.