Banking with CCH Tagetik
Updated April 22, 2021

Banking with CCH Tagetik

Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Wolters Kluwer (CCH Tagetik)

Currently, CCH Tagetik is being used by a department. Eventually, there will be a pipeline to use it across the whole organization for the betterment of the entire organization based on the workflow capabilities.

We have many sources and platforms yet there are many reports that are handled manually (still). With what CCH Tagetik is able to provide, many of these teething issues can be taken in as a parameter maintenance and solved within minutes. Workflow is what the organization will be looking into for the current budget system. Exploration has been started, but it has yet to commence.

Pros

  • Reports can be setup using multiple Hierarchy for various requirements.
  • Reclassification be pre determine before the final report output.
  • Workflow system to ease the lineage of how each report is formed and generated.
  • It can be served as a one true source system.

Cons

  • The steps of setting up the loading of data is slightly painful.
  • The steps and error message while connecting the process workflow has to provide a hint on which area needed to be fixed (because it could be anywhere or anything).
  • The combination of 2 segments for the excel upload on what's needed to eliminate is yet to resolved. Which made the entire list very long.
  • Expect to have a quicker financial close.
  • Improved in accuracy for forecasting.
  • Improved in data transparency.
1. Price - CCH Tagetik offers a price advantage as compared to bigger competitors.
2. Modules - CCH Tagetik is able to provide what the Finance of today needs.
3. Usability - It is not difficult to use once a user is able to grasps hold of the Tagetik concept and mechanism
Surprisingly, this platform is a powerhouse ERP system. However, given time, when more and more organization is able to identify how powerful this tool can be, CCH Tagetik is able to stand as a competitive advantage to many of the Financial industry of today. Although, it needs time to understand the logic behind how CCH Tagetik is formed and setup, once it is known to the user, it is an easy day to day operations with minimal maintenance.
1. In today's context, if an organization has way too many sources and no one is able to give in by setting a one true source. This platform can serve that purpose by combining all sources in it's entirety to serve the organization more effectively. (Of course, performance is not an issue to be account for.)

2. A very user friendly platform for Microsoft Office users, it has the capabilities to be a plug-in system and does not disrupt the day-to-day operations.

3. Able to connect with QlikView (in this case Qlik Sense) for visualization presentation.

4. The forecasting & console platform is very very powerful here in using CCH Tagetik.

Wolters Kluwer CCH® Tagetik Feature Ratings

8.6
Long-term financial planning
9
Financial budgeting
8
Forecasting
9
Scenario modeling
9
Management reporting
8
7.9
Financial data consolidation
9
Journal entries and reports
6
Multi-currency management
8
Intercompany Eliminations
9
Minority Ownership
8
Local and consolidated reporting
7
Detailed Audit Trails
8
9.0
Financial Statement Reporting
9
Management Reporting
9
Excel-based Reporting
9
Automated board and financial reporting
9
XBRL support for regulatory filing
9
Analytics and Reporting ()
Not Rated
Integration ()
Not Rated
BI Standard Reporting ()
Not Rated
8.0
Drill-down analysis
8
Formatting capabilities
8
8.0
Publish to Web
8
Publish to PDF
8
Report Versioning
8
Report Delivery Scheduling
8
Data Discovery and Visualization ()
Not Rated
8.0
Multi-User Support (named login)
8
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
8
Single Sign-On (SSO)
7
Mobile Capabilities ()
Not Rated

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