CCH Tagetik Software

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.

Wow

Pros

Wonderful project. Very Easy to use. Final business users requested. Fun and really fast consolidation process

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.

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

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.

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

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

Advice to Others

Invest time in proper set up of data model at the beginning.
Client should be highly involved in implementation - this benefit later and gives posibility to build reports fast.

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.

Advice to Others

This is a powerful package for financial reporting, budgeting, forecasting and generating reports. It is helpful in all kinds of organizations at different levels in order to increase the efficiency of work.

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.

Advice to Others

Targetik is a scalable tool which can be customized as per the requirements of business. It helps in organizing the data in a better way and thus generate meaningful reports.

One of the best features of this software is that it can be developed in a lesser amount of time to handle large volumes of data and thereby provide solutions to complicated processes in lesser time. It is easily integrated with MS Office Suite and thus a step-by-step data entry procedure can be setup easily. This data is stored in a consistent database which can be analyzed and then the program can be used to implement what-if analysis to draw results for the previous closing period. Changes can be made easily and thus any alterations in the P&L and Balance Sheet are visible dynamically.
The possible limitation of the tool may include a significant time required to get familiarized with the system and thus speeding up the process initially is difficult. An improved customer service will be much appreciated in which Tagetik provides customized support to businesses based on their environment.
Targetik is a good tool for large companies with many small subsidiaries. The environments can be programmed suited to the needs of the business which makes it a versatile tool for ERP solutions and for consolidated financial reporting.

I love the attitude of people working at Tagetik to understand your needs and develop specific working solutions in a very short period of time.

Pros

Simple to use.
Very intuitive.

I really like the simplicity of use of the software as well as the friendly relationship and professionalism that is formed with the vendor. I most like using ETL's within the system to easily and quickly transform and load data from other sources without manual manipulation. I feel that the system is not intuitive enough to a user's needs.

Likes Best

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

Likes Least

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

Recommendations

Make sure you have clearly defined processes before you implement the system.

Likes Best

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

Likes Least

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.

Recommendations

Start with a clear understanding of short term and long term problems you need solutions for.

Likes Best

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!

Likes Least

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.

Recommendations

Follow the installation step by step: if you know the software from the implementation you can use it very powerfully.

Likes Best

Easy interface to use and easy to set up - great flexibility in setting up hierarchies

Likes Least

Speed can be an issue at certain times in the month

Recommendations

Think about the end user requirements - always have the end goal in mind

Likes Best

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

Likes Least

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

Recommendations

The recommendations were the ones to be able to make autonomous ,as possible, users in the management

Likes Best

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

Likes Least

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

Recommendations

Read a lot of reviews and ask for references so you can talk to other users.

Likes Best

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.

Likes Least

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.

Recommendations

Always think that investing on software means having a clear idea of your organisation and its operations. A good knowledge of your business means a better understanding of your reporting needs and leads to a better implementation of your CPM. For this reason, the contribution of a qualified consulting firm is really valuable.

Likes Best

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

Likes Least

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

Recommendations

Make sure you find a company you can build a relationship with.