First time EPM user Review of CCH TAGETIK
December 08, 2022

First time EPM user Review of CCH TAGETIK

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Overall Satisfaction with Wolters Kluwer CCH® Tagetik

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.

Pros

  • Reporting. Tagetik reporting can be done in two ways, excel or power BI. We have always been using and creating excel adhoc report which after learning how the design matrix works, makes designing a form fast and intuitive. If building an adhoc is Abit difficult, then using smart view made it as easy as using excel formulas like how you use tables and powerpivot. If you have experience with Power BI, that's also an option in creating a dynnaic and asthetically pleasing looking report that you can look at on any device (mobile, laptop, ipad).
  • Allocation of Data. Tagetik provide alot of way for allocating data in both financial workspace and analytical. I find my favourite way was creating an allocation in AIH, through the use of Special Method using postgre SQL for my own flexibility. If not, there's an operation for allocation as well, where we just need to configure the parameter required for allocation.
  • Integrity checks. Tagetik does this part well in a sense of ensuring Data that does not belong somewhere stays out. ALOT OF TIME, this saves us time on analyzing when data are missing or misuse in forms, processes, QDL or through an ETL.

Cons

  • Warnings on Non existing details. Sometimes tagetik does not show warnings for uploads with detail that does not exist in Tagetik masterdata. Like account/destination mapping does not exist, got accepted into the upload but is stopped by integrity check to the reporting layer but did not show warnings, so the report showed some mismatch on what we expected because it seemed to accepted all the data.
  • Execution time. Sometimes a process or allocation step have long time execution running of more than 10 mins (this happened particularly for our rolling forecast)
  • Sometimes I had issue with excel plugin of tagetik stuck at login screen but this may either be excel problem or tagetik, I am not sure.
  • Stability, CCH Tagetik never crashed or have data corruption issue so we can rely on tagetik for storing and executing all our financial process needs with peace of mind.
  • Reporting, the self service or adhoc report creation that's easy to fix, create and maintain is a plus.
  • Analytical Information Hub; due to the amount of the data, workflow and complex calculations needed to create our P&L, AIH have made CCH Tagetik a great EPM tools for all of our P&L calculations.
  • Time; Tagetik saves alot of time by automating extracting data from our data source, masterdata checks, calculate and saves so much time compared to doing it on excel one by one and needing alot of confirmations.
  • Infrastructure headache; this is a plus as it's a unified all in one platform where we don't need additional ETL, database, or out of the software for reports, they're all integrated on tagetik
  • Learning curve; this is Abit of a negative as the learning curve for many different part from administration, to development, maintainance, support, all these require different roles or alot of time to learn.
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.

Do you think Wolters Kluwer CCH® Tagetik delivers good value for the price?

Yes

Are you happy with Wolters Kluwer CCH® Tagetik's feature set?

Yes

Did Wolters Kluwer CCH® Tagetik live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of Wolters Kluwer CCH® Tagetik go as expected?

I wasn't involved with the implementation phase

Would you buy Wolters Kluwer CCH® Tagetik again?

Yes

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.

Wolters Kluwer CCH® Tagetik Feature Ratings

Long-term financial planning
8
Financial budgeting
7
Forecasting
8
Scenario modeling
9
Management reporting
8
Financial data consolidation
10
Journal entries and reports
9
Multi-currency management
8
Intercompany Eliminations
9
Minority Ownership
7
Local and consolidated reporting
9
Detailed Audit Trails
9
Financial Statement Reporting
9
Management Reporting
10
Excel-based Reporting
10
Automated board and financial reporting
9
XBRL support for regulatory filing
8
Personalized dashboards
5
Color-coded scorecards
6
KPIs
8
Cost and profitability analysis
8
Key Performance Indicator setting
7
Flat file integration
8
Excel data integration
9
Direct links to 3rd-party data sources
9
Pixel Perfect reports
8
Customizable dashboards
8
Report Formatting Templates
8
Drill-down analysis
8
Formatting capabilities
9
Integration with R or other statistical packages
7
Report sharing and collaboration
7
Publish to Web
9
Publish to PDF
8
Report Versioning
8
Report Delivery Scheduling
8
Pre-built visualization formats (heatmaps, scatter plots etc.)
8
Location Analytics / Geographic Visualization
8
Predictive Analytics
8
Multi-User Support (named login)
10
Role-Based Security Model
9
Multiple Access Permission Levels (Create, Read, Delete)
7
Single Sign-On (SSO)
4
Responsive Design for Web Access
7
Dashboard / Report / Visualization Interactivity on Mobile
7

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