First time EPM user Review of CCH TAGETIK
December 08, 2022
First time EPM user Review of CCH TAGETIK
Score 8 out of 10
Vetted Review
Verified User
Overall Satisfaction with Wolters Kluwer CCH® Tagetik
I use this software with our client DANONE Food Group, a dairy F&B giant in Europe with 100,000+ employees all over the world where I support the user that perform monthly closing in Tagetik for P&L. This software makes everything happened at a click of a button by uploading, automating data processed w/ integrity checks for accurate P&L with a simplified user interface that's easy to navigate. Compared to how they used to produce their P&L through excel before, from sending one sheet over to the other, having multiple tabs for each month or scenario, tagetik stores everything in the cloud and allocate, processed and analyze all the data in one click of a button in a workflow. It's quite amazing what the software can do, with it's low level detail storing in the P&L reporting. The integration of controlling cloud (Power BI) made it easier for our user to do self service of creating their own report.
- Reporting. Tagetik reporting can be done in two ways, excel or power BI. We have always been using and creating excel adhoc report which after learning how the design matrix works, makes designing a form fast and intuitive. If building an adhoc is Abit difficult, then using smart view made it as easy as using excel formulas like how you use tables and powerpivot. If you have experience with Power BI, that's also an option in creating a dynnaic and asthetically pleasing looking report that you can look at on any device (mobile, laptop, ipad).
- Allocation of Data. Tagetik provide alot of way for allocating data in both financial workspace and analytical. I find my favourite way was creating an allocation in AIH, through the use of Special Method using postgre SQL for my own flexibility. If not, there's an operation for allocation as well, where we just need to configure the parameter required for allocation.
- Integrity checks. Tagetik does this part well in a sense of ensuring Data that does not belong somewhere stays out. ALOT OF TIME, this saves us time on analyzing when data are missing or misuse in forms, processes, QDL or through an ETL.
- Warnings on Non existing details. Sometimes tagetik does not show warnings for uploads with detail that does not exist in Tagetik masterdata. Like account/destination mapping does not exist, got accepted into the upload but is stopped by integrity check to the reporting layer but did not show warnings, so the report showed some mismatch on what we expected because it seemed to accepted all the data.
- Execution time. Sometimes a process or allocation step have long time execution running of more than 10 mins (this happened particularly for our rolling forecast)
- Sometimes I had issue with excel plugin of tagetik stuck at login screen but this may either be excel problem or tagetik, I am not sure.
- Stability, CCH Tagetik never crashed or have data corruption issue so we can rely on tagetik for storing and executing all our financial process needs with peace of mind.
- Reporting, the self service or adhoc report creation that's easy to fix, create and maintain is a plus.
- Analytical Information Hub; due to the amount of the data, workflow and complex calculations needed to create our P&L, AIH have made CCH Tagetik a great EPM tools for all of our P&L calculations.
- Time; Tagetik saves alot of time by automating extracting data from our data source, masterdata checks, calculate and saves so much time compared to doing it on excel one by one and needing alot of confirmations.
- Infrastructure headache; this is a plus as it's a unified all in one platform where we don't need additional ETL, database, or out of the software for reports, they're all integrated on tagetik
- Learning curve; this is Abit of a negative as the learning curve for many different part from administration, to development, maintainance, support, all these require different roles or alot of time to learn.
Oracle Essbase is another EPM software that we used but compared to Tagetik, it's not user friendly and the creation of dimensions and describing rules are more technically difficult. Drill down and analysis are not as easy as double clicking on Cch tagetik for immediate information. But as I have not used this software much and tagetik more, this is all I can say.
Do you think Wolters Kluwer CCH® Tagetik delivers good value for the price?
Yes
Are you happy with Wolters Kluwer CCH® Tagetik's feature set?
Yes
Did Wolters Kluwer CCH® Tagetik live up to sales and marketing promises?
I wasn't involved with the selection/purchase process
Did implementation of Wolters Kluwer CCH® Tagetik go as expected?
I wasn't involved with the implementation phase
Would you buy Wolters Kluwer CCH® Tagetik again?
Yes