Tagetik is a corporate performance management solution that unifies budgeting, financial planning, consolidation and management reporting. Tagetik is offered as SaaS, on a private cloud, or on-premise, and can migrate between deployments as needed.
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Workday Adaptive Planning
Score 7.8 out of 10
Mid-Size Companies (51-1,000 employees)
Workday Adaptive Planning streamlines planning workflows, using AI and real-time data integration to improve collaboration and provide predictive forecasts for better strategic analysis.
Well suited for large multi-entity international, multi-currency, multi GAAP groups with excellent report writing features, customizations, and validation traps with minimal IT support. The ability to customize dimensions and dimension structures is a key strength. The intuitive user interface enables easy adoption by new users and training times are short. Upload features via embedded customisable ETL and standardised Excel templates are very efficient. Error checking is intuitive and helpful. Less appropriate for small single entity businesses.
In a previous company, I was hired based on my experience with Workday Adaptive Planning. After being hired and reviewing the company, I quickly determined they were not large of enough of a company to need the program. Instead, we made better Excel budget templates, utilized OneDrive and created a better experience without the cost. Left the job after 9 months because I worked my way out of the position. My next role I looked for bigger companies and had better success with implementation.
Processes are clearly described in CCH Tagetik ; users can easily find where they are and which action they have to make
Interaction with Excel is really fluid ; the Excel add-in is easy to deploy and to updgrade, in the hand of users. It is reliable provided the internet connection is fast.
Managing hierachies is obvious in CCH Tagetik. Hierarchies are fundamental for a good reporting ; CCH Tagetik has obviously a deep experience of this feature.
SaaS : our experience with CCH Tagetik is of only 1 year, but it technically performs well, the system is reponsive, no shut-down, and updates (every quarter) do not disturb production.
AIH seems to be able to manage very large quantity of data, and to provide advanced analysis functionalities. We did not have time to explore them.
Version Management. Adaptive lets us manage many versions/scenarios all in one platform with the robust ability to compare them to each other.
Processing Performance. With the Elastic Hypercube technology that was implemented a few years back, we can watch changes flow through a complex web of formulas and arrive at an answer within seconds.
Audit Trail. Our administrators love the ability to see and report on who made what changes when, which leads to real accountability within the organization.
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.
Web reports and sheets are not great for in-depth reporting, and require the use of the OfficeConnect for Excel plugin and, therefore, the use of Excel for extensive reporting capabilities.
It has limited formula functionality in some instances, requiring again the use of OfficeConnect for Excel for extensive calculations.
I would like to see new planning sheet types or upgrades to existing sheet types; functionality has been the same for over 10 years.
Based on our business requirements, its current implementation and way of use (in terms of the efficiceny) it's more than certain that we will renew our contract with CCH Tagetik. CCH Tagetik increased our efficiency regarding reporting and provides more features which made it easier to take decisions. Besides of that, it provided he best solutions for reporting according to the Solvency II standards. Since this is still the case, it is also a reason to stay with CCH Tagetik.
For one we're in way too deep to not move forward with Adaptive. We're integrated with Workday, we do a ton of reporting with Adaptive, and it's working very well for planning and forecasting. No reason to look back or change course.
On a general level, it is a flexible, streamlined system, that can integrate operational data with accounting data for a better financial overview and budget planning. Reporting wise, the types and the amount of data analysis available or that can be created are close to endless. Having a quicker, more flexible way of analysing data certainly means better, faster reporting and better use of the data itself.
Workday Adaptive Planning has detailed online help with both articles and videos that are comprehensive. It has a lot of similarities to Excel, which most finance people are already familiar with, plus the user interface is intuitive and easy to pick up. The online support team is quick to respond and very knowledgeable.
CCH Tagetik has alwyas been there in case we need help. In almost 20 years of commercial relationship, I have no evidence of times in which they were not available to answer a question or to solve an issue linked to their products, timely and efficiently.
There haven't been any lately. The only one issue I can think of is when there was an update in Adaptive that altered our reports. Before I realized there was an issue, Adaptive reached out to let me know, so that it could be fixed.
As you can see, speed depends on the applications but also on the hardware that runs them. As far as CCH Tagetik improved, we saw the benefit of a cloud-based solution which could solve many speed performance issues.
All aspects of Adaptive Insights perform well. One area that I wish was quicker was integration. When importing data from Intacct our accounting ERP platform, it can sometimes take 4 hours for the import to process. The earlier imports are done, the quicker they complete. My estimate for a quick upload is about two hours.
I have had the pleasure of attending some courses at the dutch offices of CCH Tagetik. These were very educational with excellent trainers, a very enjoyable accomodation and they helped me a lot with regards to starting to use CCH Tagetik.
Whenever we have had any questions, issues, or concerns, the support has been quick and thorough. [This] allow[s] us to be able to fully resolve any issues, or be connected with the right group quickly to attain the result we were after; be it from simple formatting to adding new detailed reporting.
This was extremely helpful so that they could walk you through the model and teach you more about the complexity of various areas. It is most helpful when it is specific to your organization's model. The larger in-person trainings were helpful but they tended to be more generic and entry level. The trainings that are more tailored to your specific needs are the most helpful.
Online training is the only form of training we could deploy during the pandemic. This service has been nonethless delivered with the same standards and the same results of the traditional training procedures.
They often times tended to be way too generic or entry level. They would also become sales pitches to upgrade or get new Adaptive Planning products. The questions in the training would be very niche and specific to other organizations. They were rarely helpful to the group at large.
we did it in a coaching model. This allowed us to have 2 key advantages: we got to know the system very well and managed to save on the implementation cost. This worked well, was maybe a bit slower since we had to do this in our spare time. Nevertheless I strongly recommand
Trust the expertise of very strong 3rd party implementers. Having deployed Adaptive at a separate company before, I thought I knew it all (hubris, I know). Fortunately, I began to (very quickly) trust the judgment of our Carlson implementation team, and they provided invaluable insights and best-in-class processes that have benefitted me and my team greatly.
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
For best-in-class capabilities, you'll very likely need to split the various HR and financial systems into separate systems rather than using a consolidated platform like Workday. However, a consolidated platform provides benefits by being a single location for employees and a single system for IT developers to work with. This would need to be compared to employee efficiencies gained by working with better systems.
A good and performing scalability both on a geographical and a legal entity scale. The link with MS Office suite allows an easy deployment of the application, especially for contributors.
We went from 2 users to 70+ users over a 2 year period of time. The application scaled wonderfully. 65 of those users were non-finance users so they were able to quickly learn the software and prepare budgets quickly and efficiently. That is the power of Adaptive and its ability to scale
It has definitely helped to standardize reporting across the company. Teams are able to pull the same reports and everything has the same feel to it.
Since there are so many standard reports that we are able to create, it makes the analysts jobs easier since they are not spending so much time re-creating reports.
With any system, there is going to be some admin work required. Creating new reports, accounts and entities does take time, but it is fairly simple and doesn't take a ton of time.
