Tagetik

(40)
4.3 out of 5 stars

Tagetik offers corporate performance management software for budgeting, forecasting, consolidation & business intelligence.

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Tagetik review by <span>Andrea C.</span>
Andrea C.
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Tagetik: your needs, its solution

What do you like best?

•Really fast consolidation routine

•Data Drill-down

•Easy to use for reporting

•Flexibility and scalabity

What do you dislike?

•Improve financial budgeting cockpit

•Improve some IC reconciliation report

•Improve something regarding Equity reserves in consolidation routine

•Improve exchange rate management DB

Recommendations to others considering the product

We selected Tagetik because it had a very positive approach on our specific needs. To support our business requirements Astaldi needed to introduce a new paradigm in the management of our performance management and financial governance challenges. Astaldi needed to streamline the global financial processes (including monthly closure, consolidation, reporting, budgeting, financial planning, and executive dashboards). We needed to decentralize specific financial processes at a worldwide level, and unify multiple business applications within a single unified software solution.

What business problems are you solving with the product? What benefits have you realized?

Tagetik is absolutely well suited for all scenarios of statutory consolidation, economic budgeting and forecasting. It can have a lot of data regarding the single project and not only for legal entity and this is a MUST today. It's easy to use, and you don't need any action from the IT department for reporting set up. It could be improved in regards to financial budgeting and forecasting.

Tagetik is used for statutory consolidated balance sheets, economic and financial budgeting and forecasting by projects, and HR-ERM-HSE cockpit. It's used across the whole organization with about 300 different users located worldwide. We use Excel. Its Excel interface for statutory reporting is used internally and for our external duties through banks, rating agencies and others entities (our group is listed on the Milan Stock Exchange). Our group uses Tagetik to perform its business plan - every company in our group uses it to present its business plan. Since Tagetik is web-based we have the opportunity to collect data 7 days a week 24 hours per day. We experienced a reduction of TCO of about 25%.

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Tagetik review by <span>Arshak S.</span>
Arshak S.
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Tagetik: My Experience

What do you like best?

The possibilites and adaptability of Tagetik, but also the high level of service provided by the Tagetik Consultants.

The integration of Tagetik with Microsoft Office (Word and Excel) makes it easy to make reports, because most of the time you only need your Word and Excel knowledge, which you probably already have. So the amount of traning you need to make the reports is almos nothing. You only need to learn about the functionalities provided by the Tagetik Word and Excel add-ins, which is very easy to learn, understand and work with.

Furthermore, the practical video's provided by Tagetik on their community are very useful and provide many tips and tricks on how to conduct specific tast in an efficient manner. I like this, since it helps me to do some dailiy tasks very fast.

What do you dislike?

It takes a little bit of time to understand how Tagetik works with regards to its web version, since it has a lot of menu options. Besides of that, sometimes the location of the menu options is a bit confusing and less logical.

Tagetik Excel add-in: it is very difficult to work with styles in the add-in. Creating styles and using them is a bit difficult and is not very clear explained in the PDF manuals. This is a topic which could be very useful if more attention is put on it.

Recommendations to others considering the product

I recommend Tagetik due to the following things:

1. flexibility: Tagetik is flexible in terms of reporting data in the way you want it. It makes it easier to finish your reports in a more professional way.

2. support: The Tagetik support, and more the Tagetik consultants, are very helpful and the support given is very fast. For me it took at maximum 2 days to be helped for a non important problem. Also, the Tagetik support from Lucca is also very fast and professional.

3. Reliable: The software is technically reliable and easy to maintain. As an administrator I love to work with Tagetik ,since most of the problem are easy to solve.

What business problems are you solving with the product? What benefits have you realized?

Financial Reporting, budgeting and forecasting. It makes the whole proces easier and more reliable.

We also use it for the Financial Consolidation, which imporives the quality of our business, both internal and external.

Also, the flexibility of Tagetik makes it easy to outsource other (small) application used in our company. By this you can control many financial processes within one single application.

What Financial Close solution do you use?

Thanks for letting us know!
Tagetik review by <span>Alessandro M.</span>
Alessandro M.
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Achieve more and faster. Anywhere in the future

What do you like best?

Tagetik is a simplex solution. It tackles complex issues in a simple way.. That is particullary true for the ETL and the reporting tools which are intuitive and well linked to the main MS Office suite applications. Every step of the consolidation process can be followed by a flow chart tool which give a complete oulook of the status of any single phase with a link to the users in charge for it and to the documentation they have produced (which in some case can be checked and validated directly by the system). Tagetik also covers all the disclosure activities with its CDM add-on that lets you easily manage and draft your internal and external reporting package (including annual and interim report templates).

What do you dislike?

There are no significant negative points. Maybe that your organization and procedures doesn't fit Tagetik operational frame. In this case a little customization is necessary. In terms of maintenance, Tagetik needs a continuous update (which depending on the size of your business can be made on an annual basis or more) in order to benefit of the latest features which can dramatically improve the performance of the application as well as introducing new tools and routines for the consolidation and reporting duties.

Recommendations to others considering the product

Implementing a holistic solution like Tagetik (which is meant to give an answer to almost every aspect of financial data management issue) needs a change in the company mentality. For this reasons Tagetik is in my advice easier to implement on startup and newly-born companies instead of big and structured corporation. The collaborative disclosure management approach need a strong commitment of every user involved in the consolidation process to give its results.

What business problems are you solving with the product? What benefits have you realized?

We reduced our time-to-market for the main reporting packages, allowing a syncronization between statutory and budget financial statement results. During the years, Tagetik has been capable of supporting our M&A operations which modified the consolidation perimeter. The use of a standard and intuitive reporting package let new contributors to be effectively working in a short time, with a clear gain on information quality and consolidation routines lenght.

Tagetik review by <span>Stefano C.</span>
Stefano C.
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Reviewed On

A unexpected surprise

What do you like best?

The system is really user friendly and facilitates the collaboration between different users. The cockpit allows the monitoring of the status of the process in an immediate way and the reporting capabilities are solid. What impressed me most? The relative short time it has taken us to get familiar with Tagetik and to set up our Solvency II platform from scratch. Finally an additional plus is given by the Tagetik team which supports us always in a proactive and efficient way.

What do you dislike?

The system is sufficiently versatile but, given the specificities of our activities which include coordination and validation of quantitative and qualitative data collected from more than 65 entities of the Group, some customizations were needed (for instance with reference to the direct link between the main cockpit and the CDM tasks as well as some utility tools to allow the multiple copy of CDM documents).

However we understand that some of the customization we requested were not available in the software version currently at our disposal, but have been implemented as a standard features in the new Tagetik 5 version.

Recommendations to others considering the product

Tagetik is a versatile and users' friendly software. The proactive and efficient support of the Tagetik team is an additional and fundamental pros to be considered.

What business problems are you solving with the product? What benefits have you realized?

As a key control function, we are in charge of the coordination and validation of the Solvency II Technical Liabilities collected from more than 65 Group entities all over the world. To achieve these goals, we have implemented a Tagetik based platform (LAMP) which allows the quantitative and qualitative data collection. In addition, thanks to the Tagetik interconnection capabilities, to comply with the Solvency II regulatory requirements, LAMP fosters the flow of data from and to different Group streams.

Tagetik review by <span>Buta B.</span>
Buta B.
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Invitation from G2 Crowd on behalf of the vendor
Reviewed On

Tagetik: It can solve alot of problems

What do you like best?

I like it's flexibity, the product can easily cater for any number of processes and it's can provide simple solutions to complicated processes. I also really like the current ETL processes, it really is so easy to link Tagetik to other systems.

What do you dislike?

The product can offer too much, there are parts of the system like reporting building that I find needlessly complicated.

Recommendations to others considering the product

Definately look into it because the product has something to offer every user.

What business problems are you solving with the product? What benefits have you realized?

Tagetik was used to replace existing reporting requirements, we used to do monthly and annual reporting using spreadsheets and manually consolidating but this was really complicated and slow and the process was frought with error. Tagetik solve a big problem for us.

Tagetik review by User in Paper & Forest Products
User in Paper & Forest Products
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Smart and Effective

What do you like best?

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.

What do you dislike?

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.

Recommendations to others considering the product

Learn by doing with the software

What business problems are you solving with the product? What benefits have you realized?

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.

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Kate from G2 Crowd

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