Wolters Kluwer CCH® Tagetik Reviews & Insights

We use the software to integrate our ERP with CCH Tagetik Modules: IFRS16, Planning, Forecast, Budget, Consolidation.

Well Suited: Pre-packaged solutions are extremely powerful because they are super easy-to-use and to be setup on an IT Side.
Less Appropriate: especially on Consolidation, if there is a wrong parametrisation or a value not allowed by the system, there is an ecnrypted stack trace and not clear error message.

we use Wolters Kluwer CCH® Tagetik for severamente needs, we use it for consolidation purposes, taxes, green and social, integrated reporting, financial planning, treasury purposes, actuarial, taxes, mvbs and pillar 3 streams. We use the solution in cloud using as SaaS. We are able to distribute and deploy the application to our Group Companies that help us to optimize the time, respect very strict deadlines and for sure we are able to be compliant with regulations as per IFRS

The expertise of the Wolters Kluwer CCH® Tagetik team is high, the software itself is complete and is quite easy to customize, cover at least all the needs and there are a lot of different modules that can be tailored in each organization and business.

Tagetik is the solution we needed to comply with the business needs of having a single user-oriented platform unifying multiple core processes within the IFRS/MVBS processes consolidation, planning and forecast, S2/P3 disciplines, and regulatory reporting scope. In this context, we took advantage of flexibility, built-in processes, and ETL functionalities which let every project to be configured and maintained in reduced time and this increased our company's value in a cost-effective manner.

I think Tagetik functionalities still fit our business needs perfectly, especially since the platform implemented offers a powerful BI experience by keeping at the same time a user-oriented approach. This means the values of the company can be increased at lower time and costs, also thanks to the support given that is always punctual, fast and effective.

The plan is to have a robust consolidation and planning application with a futuristic scope to use the AI and ML functionalities and avail the advantages it can provide to speed up the process and get a strategic advantage over the competition by taking future-oriented decisions, meeting the growing demand in the market with agile and change-oriented EPM approach.

Below are the scenarios, where I feel Wolters Kluwer CCH® Tagetik is well suited:
Standardize and improve the consolidation process;​ Enable better integration between consolidated, transactional, and non-financial data;​ Integration options are better with multiple systems; An augmented analytics capability in Finance; Focus on the development of advanced analytical models; Utilization of Artificial Intelligence to drive insights and predict and prescribe future outcomes; Developing and enhancing the existing Management Information System (MIS).​

Support reduction of month end closing time
Improve data quality
Directly integrate with diversified ERP landscape

Very appropriate for integrated close and consolidation with planning processes.
Very appropriate for groups with diversified ERP landscapes.

We are a rapidly growing hotel company. As a finance department, we need to facilitate and support this growth, a.o. by using agile, efficient, scalable, SaaS software. Our goal is to become the "best in class" finance department. We use Wolters Kluwer CCH® Tagetik for budgeting, reporting, and consolidation already for a couple of years, and it fits into the picture perfectly. And to speed up our (monthly/quarterly) close, we recently implemented the transaction matching and account reconciliation modules.

Wolters Kluwer CCH® Tagetik is a great tool for companies with entities located in multiple countries (multiple GAAP standards, currencies, ownership percentages), which like to phase out Excel consolidations and use a robust, scalable tool. It offers all the necessary features for both centralized and decentralized organizations. Based on my experience Wolters Kluwer CCH® Tagetik would be less appropriate to use for smaller companies with only a few entities in a limited number of countries.

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.

Scenarios where CCH Tagetik is suitable is when a company have large amounts of data and want to transform, consolidate, store and produce reporting in different year, period etc with complex calculations and allocation. Tagetik is the tool for you in this case and it's very flexible in terms of creating your own business rule, calculation and reporting options with a user friendly interface. I have not thought about scenarios where it is not appropriate to use tagetik yet as the tool covers small and large business financial needs.

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.

I specifically love the variety of reporting options that Wolters Kluwer CCH Tagetik provides. I can teach users to report in Excel using a matrix or the TGKRETF formula. Both allow for pulling data in pretty much any manner or format desired. The SmartInsight tool in the web application is a trimmed down version of Excel which allows for drag and drop reporting which users are coming to love quite quickly.

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.

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.

We are a consulting company and implement Wolters Kluwer CCH Tagetik for our customers. Mainly we implement the system, by setting up the data model, rules, consolidation settings and mostly do all the stuff with the historical data. My team and I are the experts for the consolidation parts and we advise our customers for optimal use with their new software Tagetik. As well we do some documentation of their system and do some training for them to support them at the highest level we could.

I think I have some good experience collected in my three years of working with Wolters Kluwer CCH Tagetik. in my opinion it suits very well in the consolidation part, planning part, and reporting part. because you have one software for all of these doings. so that's the point why Tagetik isn't that appropriate for anything I'm working on