Tagetik is easy

We choose tagetik some years ago for consolidation. the year after we started a new project for budgeting then planning... every project was a success

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

The one-stop solution for your financial reporting needs.

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.

Robust Software with a little room for improvement

As a pioneer in adoption Tagetik in NA, we have been satisfied. There is some room for improvement though, and we are very vocal about it.

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.

Very good flexible software.

Pros

It's very flexible and is easy to integrate with other software programs and the interfacing process is seamless.

Cons

It's overly complex at times, some parts of the software are difficult to understand and administer because it can do so much.

Tagetik review 2019

Overall we are happy about Tagetik and we continued buying new modules (IFRS16, CbCR) to help us with the new regulations. We support having the system and make it grow with new items.

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.

It does an awful lot

I've used Tagetik for 3 years now and I find it to be a very flexible system, it's at times too complex because it offers so much. It is very reliable and the data structure is relatively easy to understand. It is also a pretty seamless integrating Tagetik with other software using one of the many standardized ETLs.

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.

Tagetik; My Experience

The company I work for is a health Insurance company with around 2300 employees. We started to use Tagetik since 2015 and the reason to do so is to simplify our reporting process. By using Tagetik we are able to deliver our reports faster and with a much better quality. For now, we are even planning to start using budgeting and planning, which is on the calendar for 2017.

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.

Flexible and powerful CPM

Tagetik is a scalable solution which can implement to cover all financial reporting processes but not only. It can be easily used to support operational reporting, what gives real benefit of having both financial and not financial data in one place. Consolidation functionalities as strong advantage of Tagetik.

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

Tagetik CPM for managment closing and planning

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

A business partner you can count on. Especially on M&A operations.

We use Tagetik for our statutory and management consolidated reporting processes. The recent stress test on this tool has been given by our latest M&A operations, in which we had to consolidated many companies with lots of intercompany relationships between them and within our Group perimeter. Tagetik let us manage this transition easily and in a short time lapse. With an appropriate configuration of the environment these new incorporations did not require additional resources (in terms of time and people). The absence of information duplicates and the use of an automated data entry platform allowed us to manage the communication with our new contributors in an efficient and effective way. In this process it is worth mentioning the contribution of the Tagetik consulting team that has supported us with prompt interventions on our main technical issues.

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.

Tagetik is maybe a little too good.

Tagetik is a wonderfully flexible product which we use for contract forecasting, year end statutory accounts and monthly management accounts production.

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.

Our experience started in 2006 and in September 2007 we have had the first go-live.

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

Great Customer Service/Accuracy with Consolidation

Treat their customers right.

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.

Smart and easy to use

Tagetik help me and my company to manage different distributed processes, like closing, budgeting, forecasting and KPI.

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.

Tagetik CPM

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

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

Tagetik

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.

Tagetik a powerful tool for your CPM Processes

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.

Tagetik, my reporting tool

The software offers a wide range of analytical tools, and is very straightforward for reporting purposes. It is very useful for reconciliations and tidying up the accounts.

Pros

Flexibility, quick, reliable and user-friendly

Cons

implementation and set-up costs are substantial

Smart and effective

The reporting with use of Tagetik has become faster and more effective. You can organize the report fitting the users needs. The consolidation process works well. A good thing is that the consolidator can follow step by step the data-entry process of the subsidiaries.

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.

Tagetik helps ease out operations, a big help!

Tagetik is well suited to rapidly evolving businesses due to the ease with which hierarchies can be manipulated. Managers/directors can open a standard form that will pull in only data that he or she has the rights for and then generate meaningful reports. Tagetik has the ability to pick data and match it based on common parameters in order to generate a report in a nice presentable format. Linking matrices is a whole lot easier, just give it some time initially for database creation but that will help in an efficient system later.

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.

I have managed many projects of statutory and managerial consolidation financial statements

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.

a reliable software for your daily business

Pros

About this software I like its complete integration for the consolidation areas from the automate eliminations to multiple reporting standards

Cons

Reporting tools can be improved through interactive tools based on existing elements of the relational model.

Tagetik is not just a software but much more

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.

The purpose of the project was challenging but the results were met

Pros

The software can provide a great flexibility for all the company's needs and covers all our business processes

Cons

During the implementation too many complex customizations were implemented and few technical manuals were given.

Tagetik platforms offers great potential for your business, if you learn to use them well

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.

The initial understanding is rather difficult, but in general positive Experience

Pros

Versatility and the ability to create and manage reporting reporting automatically. Possibility to have a clear point about overall performance and Ease in uploading and managing data.

Cons

Wrapped up is the process of implementing new reports, and the sections in which the various activities are divided are not always very intuitive. Sotware also often has operating issues related to PC operating system upgrades, it makes the ducumes and the word and excel pages heavy to which it is linked, causing malfunctions.

Tagetik CPM - my experience with budgeting and accounting reconciliation

We have worked to build an application to be able to do: - strategic planning - definition of commercial budget - gathering information workflow - reconciliation of data management and Accounting Tagetik give us the opportunity to combine all these requirements

Pros

Large amount of native or custom function available

Cons

not so easy to use for beginners, It requires a lot of practical application to get all the benefits

Does exactly what it says on the tin

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.

Whatever you want, it does

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.

Unified Corporat Management Solution

Pros

Keeps track of the latest CPM functionalities and embed them in the system. Great workflow, BI real-time, Integration to third part tools, scalable, easy to use and understand for end users. Transparent processes and functionalities for the user to administrate and maintain the system.

Cons

Too easy to expand the use of! More than 6 financial and non-financial processes are now transformed in to Tagetik applications.

Flexible and Comprehensive CPM Solution

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.

Simple, complete, powerful!

Pros

I have followed step by step the implementation of Tagetik in our headquarter and I find it very simple and powerful. It guides simple users during the consolidation process and it is very powerful for power-users. You can use it with a lot of level of options. Tagetik is a fresh company: care of the customers and focused on the future!

Cons

As I know the software from the installation I don't have any bad note, but I find the internal (from the software) help documentations poor for some functionality.

Feature Rich and Highly Flexible...

Pros

They seem hungry and willing to please their customers. Having been to 2 of their North American User conferences, you are not treated like a number or income stream like one of the big shops. Also, their product isn't lacking any features compared to other vendors (I should know, I checked out about 20 of them).

Cons

The time differences between the US (Eastcoast) and Italy (where most of the staff are located) create some issues - but not much. I was surprised how late their staff would stay to work with us during the implementation.

Adds value to financial reporting and analysis

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

Tagetik as part of your team

Pros

Overall flexibility of the product. It's powers seem endless and their desire to be a long term business partner.

Cons

I cannot think of a negative thing to say. I guess if I had to say something. I feel like they could check in with us to learn more about our needs to give us insight into how Tagetik could be solutions for those business problems. I often feel that I truly don't know it's full possible capabilities because there are so many.

The general experience is very positive. After a settling period, we are now 99% independent. Numero

Pros

The great functionality and the ability to make the consolidation and reporting process contemporary and collaborative. The Financial Reporting feature (last mile).

Cons

There are some specific complexities that are difficult to understand, some technicalities a bit cumbersome. Ease of use to improve

Good but always a surprise

We use Tagetik for the consolidation / budgeting as well as for the Notes and other reporting purposes (CDM Tool). For the normal purposes, I think it is a good to very good possibility to ease the consolidation purpose. My colleagues from Controlling are also satisfied with the functionalities of the reporting / budgeting tools. Nevertheless, it is not really user-friendly as it needs a lot of fine-tuning in places you might not see in the first sight. We are using it for over a year now and still we find new things that surprise us every day. I experienced a very strange habit in Tagetik that sometimes things just don`t work but next time you try it (without changing anything in the settings) it suddenly works. That makes it a daily surprise. Overall I have to admit that I already worked with both better and worse consolidation tools. The advantage of Tagetik, at least for our company, was that it can link to all the different general ledger systems that we use (which are plenty in regard to the size of our group).

A beautiful route with Tagetik

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

Good experience about IT solution

Pros

The possibility to have all the data available for consolidation and Vigilance Reports on a unique environment . Direct assistance person to person.

Cons

Continuos increase of consolidation duration time and not satisfactory assistance with support Jira

One stop shot

We now use Tagetik for all of our financial reporting including international currency consolidation. We also use it for our annual budgeting process

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.

Fantastic product, fantastic company

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

Tagetik CPM solution for strategic planning

Pros

Tagetik allows the users to customize a series of dimensions and calculation functions, define workflow, track user operations for audit purposes

Cons

sometimes the system does not allow you to change the settings easily, so it is better to define the requirements. even system performance can sometimes be optimized

Targetik is a must have in today's business environment

Targetik is a simple solution to complex problems we face. Processes such as financial planning, budgeting, reporting and consolidation can be handled in a very efficient manner, thanks to the customized features which can be added as per needs of the business with the help of Targetik consultants. It helps in the decentralization of data and maintenance at a global level. The data can be entered in MS Suite type interface which makes it easy to use and implement while handling complex procedures.

Pros

The data is stored in a solid a consistent DB structure which contains all the details required for conducting an audit. A work-flow utility is used to control the consolidation process which indicates the status of data for any particular user which makes it easy to track data as well as enforce security. It is flexible and handles large data sets and also generates data reports at a fast pace.

Cons

The user manual can be improved to include a detail description of topics which will improve functionality. Some of the functions and error messages are displayed in Italian which can be corrected.

Reporting stability, good support, attention to customer needs

We are using Tagetik for three differenr issues; Reporting, Production costs, Financial consolidation. I'm writing only about the firs two issues given that we ahve set up the programs in three different environment, whic is the main problem regrding Tagetik in our company. If we could start over I would like to integrated our software. A part of this we are happy with Tagetik for its flexibility, stability and support to our function,

Pros

Stability

Cons

Flexibility

TAGETIK: a flexible, modular, scalable and integrated Platform,

Tagetik for us is, Tagetik APM (our DWH) and Tagetik CPM Tagetik can help you in order to manage all kind of data (business and risk, analytic and synthetic). No need for several instruments and skills. it is one platform for multiple reporting, with collaborative reporting system and integrated with DWH data. With tagetik I got a lot of benefits: Massive quantity of data automatically collected New processes designed Automatic Data Quality controls defined and implemented Complete auditability for processes and data modifications (i.e. Expert Judgment) Tagetik 5.0 potentially enhancing with important modules to cover other business needs (planning, budgeting). Integrable with Business Intelligence analysis tools. Low IT effort required.

Extremely flexible

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.

I've been learning for a year

Pros

The simplification of databases, the stratification of data, the possibility of not having to copy the same data many times

Cons

Sometimes it is unclear, improved reporting tools, data model is complex and of no immediate comprehension

Good product, Tagetik offer different features & functionality and it's easy to maintain

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)