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CCH Tagetik OverviewUNIXBusinessApplication

What is CCH Tagetik?

CCH Tagetik goes beyond basic CPM. By aligning financial and operational data in a unified platform, our software ensures you're working with a single version of the truth. The result is faster financial processes and a complete view of your entire organization.

CCH Tagetik was previously known as Tagetik.

Buyer's Guide

Download the Business Performance Management Buyer's Guide including reviews and more. Updated: January 2022

CCH Tagetik Customers
Daimler, Randstad, Rabobank, Metro Group
CCH Tagetik Video

Archived CCH Tagetik Reviews (more than two years old)

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Director at a consultancy with 10,001+ employees
Real User
Has an APM, which deals with the details of data and has calculation functions included

What is our primary use case?

Managerial consolidation and BPF (budgeting, planning, and forecasting), especially for big companies.

How has it helped my organization?

Strong relation of entity with workflow because its functions are very useful, but not arangible. I think customers like more flexible and independent functions.

What is most valuable?

APM, which deals with the details of data and has calculation functions included. It is very powerful. Accounting and financial departments members like it. 

What needs improvement?

Analytics function is weak. Other products have sum(irate) function and forecasting help function, but Tagetik does not have this clarity.

For how long have I used the solution?

One to three years.

What is our primary use case?

Managerial consolidation and BPF (budgeting, planning, and forecasting), especially for big companies.

How has it helped my organization?

Strong relation of entity with workflow because its functions are very useful, but not arangible. I think customers like more flexible and independent functions.

What is most valuable?

APM, which deals with the details of data and has calculation functions included. It is very powerful. Accounting and financial departments members like it. 

What needs improvement?

Analytics function is weak. Other products have sum(irate) function and forecasting help function, but Tagetik does not have this clarity.

For how long have I used the solution?

One to three years.
Disclosure: I am a real user, and this review is based on my own experience and opinions.
it_user220197
IT Project Manager at a financial services firm with 1,001-5,000 employees
Vendor
It has enabled the automization of financial processes but there are some stability issues.

Valuable Features

It's user friendly, and it doesn't require code programming, with only the parameters needing to be entered.

Improvements to My Organization

It has enabled the automization of financial processes and overall workflow management.

Room for Improvement

Performance of the elaboration in terms of time.

Use of Solution

I've been using it for one year.

Deployment Issues

No issues encountered.

Stability Issues

Yes there are.

Scalability Issues

No issues encountered.

Customer Service and Technical Support

Customer Service: Very good. Technical Support: Very good.

Initial Setup

It was complex, you need a Tagetik consultant.

Implementation Team

Through a vendor team with a very high level of expertise.

Other Advice

The initial analysis is…

Valuable Features

It's user friendly, and it doesn't require code programming, with only the parameters needing to be entered.

Improvements to My Organization

It has enabled the automization of financial processes and overall workflow management.

Room for Improvement

Performance of the elaboration in terms of time.

Use of Solution

I've been using it for one year.

Deployment Issues

No issues encountered.

Stability Issues

Yes there are.

Scalability Issues

No issues encountered.

Customer Service and Technical Support

Customer Service:

Very good.

Technical Support:

Very good.

Initial Setup

It was complex, you need a Tagetik consultant.

Implementation Team

Through a vendor team with a very high level of expertise.

Other Advice

The initial analysis is very important.

Disclosure: I am a real user, and this review is based on my own experience and opinions.
Find out what your peers are saying about Wolters Kluwer, Oracle, SAP and others in Business Performance Management. Updated: January 2022.
564,322 professionals have used our research since 2012.
it_user209880
Partner at a consultancy with 51-200 employees
Consultant
It is a very complete and powerful solution, however, in larger databases the response times of the reports need improvement.

Valuable Features:

The on-the-fly consolidation engine, including on-the-fly currency translation, allows for a very dynamic approach to consolidation and reporting. Calculating only the legal consolidation hierarchy allows for the real time presentation of alternative consolidation hierarchies (e.g. managerial, geographical, fiscal) without the need to calculate / consolidate those alternative hierarchies. In combination with the multidimensional datamodel this helps finance departments to quickly adapt to changing requirements in the business landscape.

Tagetik has managed to deliver a very complete, powerful, scalable and single database solution for amongst others, financial consolidation, budgeting & planning, and disclosure management. The financial intelligence embedded in the solution is a clear differentiator.

Improvements to My Organization:

Depending, of course, on the way the solution is configured, we have seen several corporations reduce their monthly closing cycle by four to five days without changing the underlying processes in the transactional systems. The four to five days purely consists of a more efficient reconciliation, consolidation and reporting process.

Room for Improvement:

Because of the on-the-fly functionalities, we do see that especially with larger databases, the response times of the reports are under pressure. More in memory computing capabilities should safeguard proper response times. The vendor is working on this, amongst others by adapting the SAP HANA technology.

Use of Solution:

I've used it for three years, implementing the solution at nine customers from different sizes; smallest customer at EUR 100 million annual revenue and largest customer at EUR 17 billion annual revenue.

Deployment Issues:

Given the wealth of product functionalities, we do run into software related issues from time to time. Tagetik does pick up on these issues quickly by generally releasing a software patch within the week.

Stability Issues:

Stability issues generally are related to latency and server capacity. When the IT infrastructure is properly configured, we see Tagetik as a very stable solution.

Scalability Issues:

As long as server capacity goes hand in hand with database size, scalability should not be an issue. We do notice at our largest Tagetik customer that the run-time of some of the larger reports could be improved. This is partly due to the on-the-fly execution of consolidation calculations when running a report.

Customer Service:

10. Tagetik absolutely is a frontrunner when it comes to customer service. The support team is very responsive, and in case of blocking issues, the team really works on delivering a quick software fix to ensure the continuity of the reporting process for their customers.

Initial Setup:

Installing the Tagetik software is done within a day. In a standard setup there are only two servers needed – a database server and a web server.

Other Advice:

Before starting the configuration of your application, think about the trade off between using the Original Scenario compared to the Consolidation Scenario. This may sound a bit cryptic to those unfamiliar with Tagetik, but the choice between the two is fundamental for how easy maintenance of the solution will be, and how easy changes in business landscape are adapted in the application.

Disclosure: My company has a business relationship with this vendor other than being a customer: Satriun Group is a Tagetik specialist consulting partner and was awarded “Global specialist consulting partner of the year” by Tagetik.