Overall Satisfaction with Tagetik
- Easy to import and export data.
- Easy to manage data for regulatory requirements because it is easy to get the xbrl code.
- Strong data governance with the Tagetik data flow facilities.
- The Tagetik code is not easy to manage and to explore. You need an IT specialist if you want to change some features or functionalities otherwise you need Tagetik support.
- It is not easy to manage data of different periods. There is significant room to improve this.
- More functionality to integrate Tagetik APM and CPM.
- Ror us it represented a cheap solution first because it is "the" solution to build our own specific applications for our business needs.
- Cheap solution and fewer Investments (respects other vendors) to manage regulatory requirements in the European insurance industry (solvency II).
- It is a solution well understood by all different company departments.
Tagetik won against competitors thanks to:
- Positive Credem experience with Tagetik.
- Complete overlap with our strategic needs (Solvency II and more)
- Better cost-benefit analysis.
- Lower internal effort required, especially on IT dept.
- International player with a close attention to local supervisory requirements.
- Good habit to make a single client's product enhancement part of their commercial platform.
- Long last relationship established during analysis.
It's well suited to implement a solution that does not require a calculation engine and stochastic approach. For example to manage closing for an accounting department and to manage the repository for IFRS requirements. It's very powerful for CFO needs. Tagetik is also well suited to provide collaborative disclosure management applications.
Today it's not appropriate to provide solutions in the risk management area.