Tagetik Reviews

Tagetik

Cloud-based & on-premise CPM solution for financial planning

4.3/5 (77 reviews)
Alessandro M.

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

Used Daily for 2+ years
Reviewed on 2017/02/07
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

9.0/10
Alessandro M.

The one-stop solution for your financial reporting needs.

Reviewed on 2015/09/21
Review Source: SoftwareAdvice

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.

Rating breakdown

Ease of Use
Customer Support

Likelihood to recommend

9.0/10
Buta B.

It does an awful lot

Used Daily for 2+ years
Reviewed on 2017/01/15
Review Source

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

6.0/10
Buta B.

Tagetik is maybe a little too good.

Used Daily for 2+ years
Reviewed on 2016/07/19
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10
Arshak S.

Tagetik; My Experience

Used Daily for 6-12 months
Reviewed on 2017/01/06
Review Source

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

9.0/10
Andrea C.

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

Used Daily for 2+ years
Reviewed on 2017/05/19
Review Source: Capterra

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

Rating breakdown

Value for Money
Ease of Use
Customer Support

Michał N.

Flexible and powerful CPM

Used Daily for 1+ year
Reviewed on 2017/02/15
Review Source: SoftwareAdvice

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

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

10.0/10
Angelo F.

Smart and easy to use

Used Daily for 2+ years
Reviewed on 2017/05/17
Review Source: SoftwareAdvice

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10
Bjørn born sylvest S.

Tagetik CPM

Used Daily for 2+ years
Reviewed on 2017/03/21
Review Source: Capterra

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

Rating breakdown

Ease of Use

Likelihood to recommend

10.0/10
Brooke W.

Great Customer Service/Accuracy with Consolidation

Used Daily for 2+ years
Reviewed on 2017/06/13
Review Source: SoftwareAdvice

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

9.0/10
Sabrina F.

Tagetik is easy

Used Daily for 2+ years
Reviewed on 2017/01/12
Review Source

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

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

10.0/10

Tagetik

Used Daily for 2+ years
Reviewed on 2017/05/16
Review Source

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

10.0/10
Giosue C.

Tagetik a powerful tool for your CPM Processes

Used Daily for 2+ years
Reviewed on 2017/05/16
Review Source: SoftwareAdvice

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

10.0/10
Dario P.

Tagetik, my reporting tool

Used Daily for 2+ years
Reviewed on 2017/03/25
Review Source: Capterra

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

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

9.0/10
Chiara Z.

Smart and effective

Reviewed on 2016/07/16
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10
Harshit A.

Tagetik helps ease out operations, a big help!

Used Weekly for 1-5 months
Reviewed on 2016/11/09
Review Source: SoftwareAdvice

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10
Chiara S.

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

Used Daily for 2+ years
Reviewed on 2017/05/10
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Simone P.

a reliable software for your daily business

Used Daily for 2+ years
Reviewed on 2017/05/16
Review Source: SoftwareAdvice

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

9.0/10
Luca B.

Tagetik is not just a software but much more

Used Daily for 2+ years
Reviewed on 2017/05/12
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Stefano B.

Tagetik CPM for managment closing and planning

Used Daily for 1+ year
Reviewed on 2017/03/28
Review Source

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

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10
Roberto V.

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

Used Daily for 2+ years
Reviewed on 2017/05/08
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Claudio F.

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

Used Daily for 2+ years
Reviewed on 2017/05/12
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Giorgio G.

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

Used Daily for 6-12 months
Reviewed on 2017/05/15
Review Source: Capterra

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.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Stefano B.

Tagetik CPM - my experience with budgeting and accounting reconciliation

Used Daily for 1+ year
Reviewed on 2017/03/24
Review Source: SoftwareAdvice

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

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

8.0/10
Bob C.

Does exactly what it says on the tin

Reviewed on 2015/03/26
Review Source: SoftwareAdvice

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.

Rating breakdown

Ease of Use
Customer Support

Likelihood to recommend

10.0/10