Wolters Kluwer CCH® Tagetik

Score8.5 out of 10

70 Reviews and Ratings

What is Wolters Kluwer CCH® Tagetik?

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.

Categories & Use Cases

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Screenshot of Homepage

Single Sign-On (SSO)
Allows users to use one set of login credentials to access multiple applications
Category average: 8.6
Local and consolidated reporting
Ability to report against individual business entities and the consolidated umbrella entity.
Category average: 8.3
Excel data integration
Ability to integrate directly with Excel data.
Category average: 8.5

Report sharing and collaboration
Report sharing and collaboration is the ability to easily share reports with others.
Category average: 8.3
Drill-down analysis
Drill down analysis is the ability to get to a further level of detail by going deeper into the hierarchy.
Category average: 8.2
Responsive Design for Web Access
Web design aimed at producing easy-to-read sites across a range of different devices.
Category average: 7.5

Most Frequent Users

Top 3 industries using Wolters Kluwer CCH® Tagetik.

Based on HG Insights installation data

View all Reviews

#1 most frequent

Manufacturing

20.1%

362 installations of 1,800

#2 most frequent

Professional, Scientific, and Technical Services

12.8%

230 installations of 1,800

#3 most frequent

Finance and Insurance

10.2%

184 installations of 1,800

Hugo Bongers

Functional Application Manager in Information Technology at Cooperatie VGZ (1001-5000 employees)

Use Cases and Deployment Scope

Our company uses CCH Tagetik mainly for financial consolidation and reporting. We are a Top-3-health insurance-company in the Netherlands and are therefore required by law to provide i.e. the Dutch National Bank with a number of financial reports periodically. Since we have several labels in our company, consolidating all the different data into the required format is made very easy by using CCH Tagetik.

Pros

Consolidating: creating a solid report from all the different inputs.
Reporting: the data comes out exactly as we want it, how we want it.
Input: the different users can just send us their data in xslx-format, CCH Tagetik does not require a great number of users all using the tool.
The support and education possibilities are of great quality.

Cons

The learning curve is quite steep.
Sometimes the Italian terms are a bit hard to understand.

Return on Investment

Easier consolidation
Fewer or none errors
Less manual actions needed

Amanda Roche

Senior Accountant in Finance and Accounting at Altra Industrial Motion (5001-10,000 employees)

Use Cases and Deployment Scope

We needed a software that could consolidate a variety of currencies and ERP systems. Tagetik has definitely provided that for us. We use 8 different ERP systems and 16 currencies. With Tagetik we can report in any currency we need and consolidate our financials during month end close as often as we desire.

Pros

Consolidation
User Creation/SetUp
Job Scheduling

Cons

IC Cockpit report is difficult to customize

Most Important Features

Job Scheduling
IC Cockpit - Intercompany Matching
Reporting

Return on Investment

Consolidation allows for robust reporting
Multiple entity hierarchies allows for a variety of financial views
Job scheduling brought us automatic loads of our trial balances

Other Software Used

BlackLine, Bloomberg Tax Advantage, Esker

Adam Jenkinson

group finance manager in Finance and Accounting at cps (201-500 employees)

Use Cases and Deployment Scope

Used for management reporting and financial statement preparation. The product is critical for multicurrency consolidation and reporting for the entity, regional, and group structures. We have c.20 reporting entities and users.

Pros

Report customisation.
Drill down.
Excel compatibility.
Consolidation and close.

Cons

Online help and manual is a bonus but could be improved e.g. the clarity of English explanations.
Improved Excel compatibility e.g. formula driven reporting and dash boarding.
Mobile phone connectivity e.g. launching a consolidation from a Wolters Kluwer CCH® Tagetik app.

Most Important Features

Dimension configurability.
Security model.
Report writing.
Excel integration.

Return on Investment

Fast close and soft close features enable pre reporting result improvement.
Budget and forecast cycles greatly improved on previous spreadsheet model.

Alternatives Considered

Oracle Hyperion Enterprise Performance Management

Other Software Used

Foxit PDF Editor (FoxitPhantom)

Lionel Maillet View profile

Chef de projet Outil Pilotage Financier in Finance and Accounting at SNCF Gares & Connexions (1001-5000 employees)

Pros

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.

Cons

Techical tools : ETLs are well structured, logical and understandable, but their interface is quite out-dated. Compared to pure ETLs like ALTERYX, we long for a graphical interface. The HTML5 query interface (SQL) is too slow and too rough : hints on data model or field names would be appreciated.
From a personal point-of-view, I would prefer a more compact web-interface, with smaller policies and other colours. OneStream or IBM analytics seem better on this aspect. It is subjective.
Our business can be audited many years later. CCH Tagetik provides no particular improvement to restore data-sets that where used in the past (fact tables and dimensions), whilst avoiding to keep the old dimension values in the current application.
Technical performances fall dramatically when trying to include too many dimensions in a report (even when using filters) ; it is difficult to export your data in flat files with the standard reporting tool. Switch to technical tools (SQL scripts, etc) are required for a reasonable time response.

Return on Investment

CCH Tagetik makes our data model more transparent a logical ; data are easier to share
Too early to estimate a ROI

Alternatives Considered

Anaplan

Usability

Other Software Used

Alteryx, Oracle PeopleSoft SCM

VinothKumar M View profile

CCH® Tagetik Consultant in Finance and Accounting at Vetriva Enterprise solutions private limited (11-50 employees)

Use Cases and Deployment Scope

We use Tagetik to integrate users from different companies based on their business needs. We completed the entire planning and budgeting procedure from beginning to conclusion. Actually, our customers were utilizing Excel to create their budgets before being switched to Tagetik to automate the process. We've covered everything from excel to Tagetik when it comes to automation. Our customer uses Tagetik [now] to create budgets for all of their departments, including HR, Revenue, and so on.

Pros

Data accuracy.
Fully automated.
Data integrations.
Excel add-in gives a feel like working with Excel.

Cons

IRR Interest Portion for loan calculations.
In the new update after the flex was removed for the MDX Calculation, structure details are not available.

Return on Investment

Accuracy.
Reporting.

Alternatives Considered

BISP Solutions Oracle EPM Consulting

Usability

Other Software Used

Microsoft SQL Server, Microsoft Excel

Anaplan

SAP BPC (Business Planning and Consolidation)

Oracle Fusion Cloud Enterprise Performance Management

OneStream

SAP Analytics Cloud

Wolters Kluwer CCH® Tagetik

What is Wolters Kluwer CCH® Tagetik?

Categories & Use Cases

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