Experience with CCH Tagetik CPM for banking planning
Updated March 02, 2018

Experience with CCH Tagetik CPM for banking planning

Stefano Benetti | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Wolters Kluwer (CCH Tagetik)

CCH Tagetik is being used by our CFO structure. We have built planning/budgeting applications and reconciliation between accounting and DWH data.

A big problem we had before CCH Tagetik was the absence of a structured system for the collection of data. We now have the ability to manage a simple workflow, and keep it monitored.

  • integration with many databases
  • flexibility of ETL system
  • very strong audit tools
  • reduce the number of options: sometimes you can do the same thing in too many ways
  • reporting and dashboarding: in truth you can easily use third party software (if you have them), but I think there is ample room for improvement in the native reporting
  • at the moment, cannot estimate
Tue usability of CCH Tagetik depends on the implementation: if the user has an interest in fully understanding how the software works, the complexity increases. By simply using what has been achieved, everything is much simpler

I think the native application (Consolidation) is probably the best, but there is much opportunity to structure effective planning processes. In this case there needs to be more effort in terms of both function and implementation.

Another very effective application is cost allocation. CCH Tagetik provides a lot of native features that allow analysts to deploy allocation systems, even very complex ones.

Wolters Kluwer CCH® Tagetik Feature Ratings

Long-term financial planning
8
Forecasting
6
Scenario modeling
8
Management reporting
7
Financial data consolidation
8
Intercompany Eliminations
7
Local and consolidated reporting
6
Management Reporting
6
Excel-based Reporting
6
Personalized dashboards
7
Color-coded scorecards
6
KPIs
6
Key Performance Indicator setting
6
Benchmarking with external data
8
Flat file integration
9
Excel data integration
9

Using Wolters Kluwer (CCH Tagetik)

7 - 

Planning & Control

Brench Budgeting

Cost Management

2 - Technical & Functional Skills
  • Stategic Palannin
  • CCost Management
  • Quick allocation
  • Audit
  • budget for managers

I gave this vote because the application meets the needs of the company, even if some features could be made more linear, facilitating the adoption speed. I have a lot of expectation for future releases, especially for the reporting. It would be desirable to integrate with alternative bi tools (power BI or similar).

Using Wolters Kluwer (CCH Tagetik)

ProsCons
Like to use
Relatively simple
Consistent
Cumbersome
Lots to learn
  • Allocation
  • Audit Tool
  • DB management
  • MDX
  • different way to do the same things