CCH Tagetik

Pros

Reliability, ease of use, great support team

Cons

The excel add-on is a bit slow sometimes

Pros

Easy of use for final users, ease of maintenace for CFO office

Cons

Difficult navigation/retrieval of information within knowledge base

Alternatives Considered

Reasons for Choosing CCH Tagetik

Switched From

Pros

the semplicity of the cpm environment...

Cons

some processes are a bit too cumbersome.

Pros

Really great for budgeting and planning work and for generating financial reports for all areas of our business.

Cons

There's quite a lot to get your head around when first using it. A bit of a learning curve!

Pros

citizenM is a fast growing, global hotel company. We deal with different currencies, GAAP standards, ownership percentages, mergers, et cetera. CCH Tagetik eases this complexity when it comes to budgeting, consolidation and reporting.

Cons

The solution could be customized according to the customers wishes, it offers lots of possibilities. This requires detailed knowledge of the system internally (or external consultants) when the configuration requires adjustments.We experienced some challenges during the implementation of the transaction matching module related to the connectivity (API vs. FTP). The support from Tagetik on this has been excellent.

Alternatives Considered

Reasons for Switching to CCH Tagetik

Pros

The fact that the administration and the developement can both be done by the business enhances the understanding of the power users a lot.

Cons

The performance of big processes (e.g. mid-term planning) can be on the slower side.

Alternatives Considered

Reasons for Switching to CCH Tagetik

Pros

Can cater for pretty much any scenario with new features being added all the time.
Newer versions of the software are very impressive, some of the additions i.e. Tagetik data analytics look amazing.
They offer a lot of support through a Tagetik community and Tagetik Insiders. The social community is growing very fast.

Cons

Some parts of the system, in particular, the native Excel reporting is difficult to understand.
It is quite expensive.

Pros

1. Easy to use; the learning curve is big.
2. Great customer support with updates about the status.
3. Good knowledge and support by Tagetik consultants and third party consultants
4. Fast software.

Cons

1. Lay out a bit confusing; some menu options can be/should be placed clearer and on better places in the menu bar.
2. PDF Manuals are very basic. They should be written in a more practical way and with examples.

Pros

I enjoyed the variety of options that offers Tagetik for building applications with different purposes: from accounting reconciliation to allocation of costs up to planning and budgeting.
The application give you the solidity of strong audit compliance.

Cons

As I saw with most software, you requires a rather intensive use to have "know how" on the instrument and the many potential offers

Pros

CCH Tagetik allowed our team to automate our consolidation process which saves me hours each month and takes the user error out of the process

Pros

The system is extremely easy to use for technical and non-technical personnel. The system also has a wide range of out of the box features to get started right away, while also being extremely flexible in case you want to scale the product with your business.

Cons

The product is generally extremely intuitive for the portions that a customer would use or be familiar with. That being said, new developments should be promoted more, in order for customers to keep up with the system and take advantage of the changes.

Pros

Tagetik has succeded to develop a Corporate Performance Management system which can fullfill the reporting needs (including legal compliance requests) of a great number of companies. Doesn't matter if you are a small firm or a large company, if you are an industrial company or a service provider. Tagetik offers a scalable solution which can easily implemented on your existing transactional applications, creating a consistent set of data which can be used for different proposals such as the draft of the financial statements, or a reporting package for internal use, or even a CSR report. Moreover the integration with the MS Office suite application (such as Word, Excel and Powerpoint) establish a familiar interface, thus empowering the day-by-day activity of data entry, report creation and data analysis. Last but not least, one of the key factors that make Tagetik your choice for your financial reporting activities resides in its consultants, who are focused on delivering a solution which fits perfectly to your requests. When you buy Tagetik you don't only buy a software. You buy a valuable service for your business.

Cons

Like any business software, Tagetik needs to be updated in order to increase its performance and to meet the hardware and software standards always evolving. If you are looking for a "one-shot investment" which could solve all your problems for the next 10 years look elsewhere. Even if it means that you are still running Office 97 on a Windows XP machine. And even if I'm not sure you are going to find what you are looking for.

Pros

Tagetik is a system base and build with the enough trust that the information will be ok.

Cons

The training process is not very easy to handle

Pros

Tagetik is a simple to use and flexible instrument.
I didn't follow the implementation from the beginning but I've learned quickly the majority of functionalities.
I learned to use Tagetik mostly from my collegues and by using it. It's not a stressing process.
This application permit the users to improve their accounting and analysis skills thanks to its features.
Tagetik is a smart company, creates network among customers and employees.

Cons

The online guide is poor of contents. It could be good for a beginner but it lacks of specific topics. In particular for CDM's section.

Pros

- flexibility of setup with IT involvement needed
- integrated product for reporting/forecasting/budgeting/consolidation
- integration with excel
- easy to use
- scalable
- transparent processes and workflows

Cons

- documentation available online could be improved/extended

Pros

Integrated product for consolidation, budgeting and forecasting.
More opportunities to customize it adding other cockpit like HR, ERM and HSE.
Consultants always available to hear your problems and fix your issues. Simple to use with Excel interface.
Possibility to use cloud solution.

Cons

During over 7 years of experience with Tagetik I can say I haven't had any kind of issue that we don't fix.
Furthermore Taegtik team is always available for their customers.

Pros

Tagetik is an integrated solution for all your needs about performance management, Solvency II reporting, IFRS and much more.

Cons

For our company, the main least of Tagetik is the lack of a native integration with the software APM of the same Company.

Pros

Specifical and powerful functionalities for the insurance industry (SolvencyII, IFRS, Narrative, ecc.)

Cons

Little integration between the 2 Tagetik platforms APM and CPM. It should be remedied in the next future.

Pros

Tagetik allows administrators to create multiple hierarchies to customize numerous reporting requirements.
It is a very flexible software which can be molded as per requirements.

Cons

Without being involved in the implementation process, it is difficult for an individual to speed up on using the system and generating reports.
It will be very beneficial to have a liaison at Tagetik who can guide the businesses in the implementation process to make the users aware of some of the features that the software has but the businesses might not be aware of.
Sometimes, while setting up the accounts, users are required to enter information that is not pertinent to their company but they still have to enter it.

Pros

I really like the simplicity of use of the software as well as the friendly relationship and professionalism that is formed with the vendor

Cons

The thing I like least is the part related to the definition of multiphase processes, but this is one small exception

Pros

Software is easy to use with Excel front end. Company is supportive and knowledgeable.

Cons

Not much. A few years ago there were some translation issues, but not much now that they have a bigger presence in the US

Pros

The ability to warehouse, pull, and update large volumes of data.

Cons

The inability to easily create or modify reports plus the trouble successfully running complex reports with more than one analysis build in.

Pros

Tagetik Consolidation is a robust financial consolidation solution. Concerning the others areas of my experience, it is a less strong solution but it is possible to customize to address complex requirements.

Cons

Not all of the modules are robust, in some cases to much customizations are required during implementation.

Pros

All our company with unique chart of account
Simulation of differents budget and scenarios
Financial planning

Cons

With our release (4.3.2) is no possible to print the book on PDF
With our release (4.3.2) weve no dashbord
Report flexibility (we're limited by matrix)

Pros

Fast integration with SAP 4 Hana, easy to use and implement, flexible and scalable solution.

Cons

Not easy use of ad hoc analysis to build flexible reports only for specific and not repeatable purposes

Pros

Very intuitive to use and has a modern interface

Cons

Changing something could become complicated as the tool is rather complex on the back end.

Pros

The fact that it's very useful to manage your budget expecially in the money transfer from a user to another, even when you transfer more than 1000K€

Cons

The fact that you need a special consultant to learn how to use it: an operating manual would be too long

Pros

Easy to use and configure for the ongoing routines (a first implementation by a skilled consultant is required and suggested). - Familiar look-and-feel which replicates the tipical MS Excel interactions. - Easy to install on remote terminals (works also on mobile devices) for external contributors. - Data are managed in a consistent way. - Scalable architecture which lets you add new modules and manage large consolidation perimeters. - Possible automation for the most common consolidation routines (intercompany eliminations, consolidation adjustments, etc.). - Tangible returns in terms of time spent on reporting generation and time-to-market.

Cons

Depending on your business, the implementation of this platform could require a consistent effort in terms of architecture and data flow projecting. The assistance of a skilled consultant is largely suggested. This step is crucial in order to take the maximum benefits from this product.

Pros

It is blank vanilla product that lets us customize it to fit our needs.
It has lot of built in / out of the box functionality for financial planning and reporting needs.
The implementation is quick and easy with SaaS.

Cons

The nicheness of the product means, it's costly and hard to find consultant/developers.
Too much customizing also complexes the data flow and processes.
some performance issues during our implementation. not in production so far.

Pros

flexibility, scalability, reporting (very easy to manage with opportunity for each contributor to create report ad-hoc), unique data base for management data, statutory consolidation, budgeting&forecasting, possibility to have for each project the economic&financial data, possibility to do across differente view using hierarchies

Cons

sometimes is not too much flexible and maybe you have to adapte your needs to its structure, i'd like to have more opportunity to have different sensitivities without having different scenarios

Pros

After the Tagetik implementation was closed and we could launch out first budgeting year with it, we saw a radical change in the way we work, how fast we get the data, how easy the users work with it, how clean and reliable it was. The quarterly closings and consolidations have become so much neater and faster.

Cons

The original project was a lot more complex on the revenue generating side, the cash flows, the intercompany declarations, which we had to give up doing directly in Tagetik and instead loading them through Excel modeling done outside the system. Clearly budgeting and forecasting from a flow point of view takes longer because it's not a "update a number, push the button, system is updated" anymore.

Pros

Ease of use and powerful features. Excel integration is good.

Cons

Help screens are useful overall but English is poor.

Pros

6 years of history with our Tagetik journey
Four upgrade almost without any pain.
Easy to maintain and administrator. Super end user friendly - finance people loves it's excel

Cons

Easy to get carried away to do too many changes

Pros

The software is very easy to use and really helpful with our internal processes of Budgeting Planning Closing and Managerial Consolidation

Cons

The software is less good when you need some function that is not a default set. In this case it is more difficult to achieve your expected results. In reality this occurs a few time.

Pros

Cloud based software that has a minimal downtime

Cons

Structure is not user super friendly. Lot of things are coded in Italian which makes it a bit challenging.

Pros

It's very flexible, the software can cater for almost any process quirk you can throw at it. The interfacing process between other software solutions is pretty seamless and the data structure is relatively simple to understand.

Cons

Because the software can cater for so many different solutions it has an awful lot of inbuilt complexity and it's very tricky to navigate the program at times (especially for administrators) and the report building process is very complex.

Pros

The reporting features, are intuitive and simple to use, drag and drop to create report and complicated filterings can be maintained easily by using it dynamically. User interface is asthetically pleasing, making the closing process easier to navigate, follow through and fast.

Cons

The execution running time can sometimes be slow for certain processes. Maybe it could be due to complex calculations or maybe there are external factors in play behind the software (other user performing the same thing at the same time)

Pros

The software platform provides everything we were looking for in a solution and more. Service and support has been outstanding and we now have a solution that is more efficient and provides better data sooner.

Cons

I wish some of the documentation were more comprehensive. tge pricing structure is a bit odd and complicated. I'd like to see it streamlined.

Pros

I really like the automation feature which saves a lot of time and the user interface is easy to master

Cons

I had a very good experience with cch tagetik I will recommend it

Pros

CCH Tagetik has amazing customer services. They are always willing to help whenever we have a question. We also switch to CCH Tagetik consolidation tool and this has eliminate a lot of human error and has strengthen our financials on accuracy.

Cons

The speed to retrieve data could be faster. Now, this could be our company needing to upgrade servers.

Pros

It's a tip to a better way of working
saving time to perform better

Cons

Our consultant from the beginning is the same person, we know each other and we work as we are colleagues

Pros

In a single environment we can have management data reconciled with accounting data and forecast data. It is possible to create customized environments.

Cons

customization is not so easy and takes time

Pros

I like the way I can make autonomously report using excel interface, that is in my opinion very simple and user friendly. Also the process cockpit is very helpful to manage processes.

Cons

I don't like the sql query tool included in the excel reporting interface. I prefer traditional sql server tool.

Pros

Very customizable and flexible in the design of Tagetik for your business

Cons

Can be somewhat difficult to learn at the beginning, but just like anything else, it just takes time.

Pros

The software is very easy to use and really helpful with our internal processes of Budgeting Planning Closing and Managerial Consolidation.

Cons

The software is less good when you need some function that is not a default set. In this case, it is more difficult to achieve your expected results. This occurs just a few times.

Pros

Awesome product, supplier easy to work with (a big bonus). Probably the best joint decision Finance and Technology have ever made regarding choice of core systems. Simple to use. Highly intuitive and puts control firmly into the Office of Finance removing the reliance on technology to deliver reports. Saved a huge amount of time on our month end processes.

Cons

Deep dive into the database and the fieldnames are in Italian, but then the company is based in Lucca, so this is to be expected.

Pros

Easy to use for the end user, great for consolidation, broad reporting functionalities and the combination of a single data source and validation processes ensure accuracy.

Cons

It has to be updated regularly to ensure performance standards since it can be slightly buggy at times, but Tagetik takes their responsibility to keep working on it.

Pros

There is always a solution tailored on the customer needs built together. Technical support is efficient and available in every moment.

Cons

Sometimes some logics in the processes seem to be more complicated than they are. More simplification can be useful.