TrustRadius
Tagetik at a Glance
https://www.trustradius.com/corporate-performance-management-cpmCCH TagetikUnspecified8.536101
Susan Heffern profile photo
April 27, 2016

Tagetik at a Glance

Score 10 out of 101
Vetted Review
Verified User
Review Source

Overall Satisfaction with Tagetik

We use Tagetik for our global consolidation of financial statements. It is mainly used by the finance department. We also use it for our budgeting process. All key directors input their budgets and our back office compiles the data to create our global budget.
  • Tagetik is extremely flexible and customizable to your business needs.
  • It creates financial statement reports extremely fast and gives us the ability to slice and dice financial metrics in more ways than you can imagine.
  • I see Tagetik as a long term business partner to help us solve problems.
  • A solid implementation team and process.
  • Until you get familiar with the software, screens, buttons, etc, are not necessarily intuitive. It just takes time
  • Without being involved in the implementation process. A new user might have some difficulty getting up to speed on writing reports and using the system.
  • Having a liaison at Tagetik that really understands our business needs so they can help guide us at various stages on implementing parts of Tagetik that we may not be aware of.
  • Gave us a tool that can absolutely grow with us to help multi phase implementations.
  • A significant time savings in terms of the amount of time we used to spend running reports vs. the time we spend now. Unbelievable improvement.
  • Gives us the option to use Tagetik to solve business problems that perhaps we didn't have when we implemented Tagetik. It gives us options without the possibility of implementing a whole other software package.
Are all very different. Tagetik was more flexible and diverse and has the ability to grow with future unforeseen business issues.
Tagetik is very suited for consolidation but not appropriate for GL detail.

CCH Tagetik Feature Ratings

Long-term financial planning
10
Financial budgeting
10
Forecasting
10
Scenario modeling
Not Rated
Management reporting
10
Financial data consolidation
10
Journal entries and reports
10
Multi-currency management
10
Intercompany Eliminations
3
Minority Ownership
10
Local and consolidated reporting
10
Detailed Audit Trails
10
Financial Statement Reporting
10
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
10
XBRL support for regulatory filing
10
Personalized dashboards
10
Color-coded scorecards
10
KPIs
Not Rated
Cost and profitability analysis
10
Key Performance Indicator setting
10
Benchmarking with external data
10
Flat file integration
10
Excel data integration
10
Direct links to 3rd-party data sources
10

Using Tagetik

30 - General ledger and reporting including quarterly and annual SEC reporting and audit collaboration.
10 - Finance, IT, data analysts, project coordinators,
  • Consolidation
  • Budgeting
  • Statistical
  • Statutory reporting
  • Dashboarding
  • Board reporting
  • Fixed asset planning
  • HR planning
  • Board reporting
We have a lot invested in this product and want to use it as much as we can.

Evaluating Tagetik and Competitors

Yes - FRx because it was becoming unsupported.
  • Price
  • Product Features
  • Product Usability
  • Product Reputation
  • Vendor Reputation
  • Existing Relationship with the Vendor
  • Positive Sales Experience with the Vendor
  • Analyst Reports
Product usability. Ability to be a solution for future business needs.
Wouldn't change a thing.

Tagetik Implementation

Get a project manager and have someone on the team who knows your databases and systems inside and out.
Yes - First consolidation then budgeting
Change management was a small part of the implementation and was well-handled - Getting used to the new way
  • Just getting used to writing reports
  • Time to find from regular job to implement

Tagetik Support

Have never had a reason to give a negative rating
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
Yes - If and only if we need expert assistance and cannot accomplish with our internal staff
All of our onsite meetings were very successful.

Using Tagetik

I see this product as being multi functional
ProsCons
Like to use
Relatively simple
Easy to use
Technical support not required
Well integrated
Consistent
Lots to learn
  • Physically running of reprts
  • Getting used to creating reports can be difficult to get used to
  • Navigating until you get used to it