Wolters Kluwer | CCH Tagetik offers enterprise-scale performance management software solutions for the office of the CFO. CCH Tagetik was founded in 1986 and is headquartered in Lucca, Italy and Stamford, CT. In 2017, Tagetik was acquired by Wolters Kluwer, a Dutch company with revenues of €4.4 billion that provides expert solutions and services to a variety of industries worldwide. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide.
CCH Tagetik, a part of the Tax and Accounting division of Wolters Kluwer, provides solutions to CFOs, which are available on-premises and in the cloud. According to CCH Tagetik, over 50,000 users at more than 1,000 customer organizations in 35 countries worldwide use its solutions.
The product CCH Tagetik is a unified web-based platform for CPM (financial consolidation, planning and budgeting, profitability management, reporting and analytics), financial corporate management, risk management and compliance as well as disclosure management. CCH Tagetik targets mid-size and large companies (or groups of affiliated companies) with lots of users involved in corporate planning and/or financial consolidation processes. Additional solutions (e.g., IFRS 16/17, Solvency II, Tax, iXBRL) are available in the CCH Tagetik application marketplace. These solutions are based on the platform technology and include predefined starter kits, pre-packages and tech solutions developed by CCH Tagetik itself and its partners.
From a planning perspective, CCH Tagetik is focused on integrated corporate planning and budgeting, with top-down, bottom-up and mixed approaches all supported. CCH Tagetik contains a predefined model for integrated financial planning (balance sheet, profit and loss statement, liquidity) that can be used by individual subsidiaries or at group level. Consolidation of plans is possible thanks to CCH Tagetik’s integrated functionality for financial consolidation and close. Additionally, the integrated Analytic Information Hub offers more flexible and scalable possibilities in the context of open data modeling, financial performance management (e.g., regulatory reporting), planning and analytics. From a technical perspective, the Analytic Information Hub is based on a relational data model (e.g., Microsoft SQL Server or SAP HANA), which can be administered in business departments using the CCH Tagetik user interface and modeling tools. Write-back to the Analytic Information Hub is possible with CCH Tagetik’s standard client interfaces (Excel add-in, web). Comprehensive workflow functionality (especially for bottom-up approaches) is available to control planning processes involving lots of planners.
In terms of reporting and analysis, CCH Tagetik’s integrated functionality is geared to end-user self-service with on-screen display of reports and dashboards. Recently, a new analysis panel in the web client and Excel add-in was introduced for analyses by cell (drill down to details in a specific cell), by cube (pivot analysis for a specific range of data) or anywhere (free filtering of data room). Moreover, CCH Tagetik enables wizard-driven automatic cube generation for Microsoft SQL Server Analysis Services and third-party analytics products (partly OEM) from SAP, Microsoft, Qlik and XLCubed. The relational CCH Tagetik data model, stored in Microsoft SQL Server, Oracle, PostgreSQL or (since 2014) SAP HANA, is open to third-party access.
User & Use Cases
Besides planning, customers mainly use CCH Tagetik for standard/enterprise reporting (90 percent), ad hoc query and reporting (87 percent) and financial consolidation (77 percent). 40 percent of respondents plan to use it for advanced analysis in the future. CCH Tagetik targets large and mid-sized companies across all industries. 55 percent of our sample of CCH Tagetik customers come from large companies (more than 2,500 employees) with a median of 100 users (including 100 using planning functionality), but the mean of 167 users (131 for planning) indicates there are also several larger implementations. 79 percent of CCH Tagetik users are planning users – significantly above the survey average of 65 percent – reflecting the fact that CCH Tagetik is essentially an integrated tool with strong planning but also financial consolidation functionality.
Current vs. planned use (besides planning)
Percentage of employees using CCH Tagetik
Planning users (as a percentage of all users)
Total number of users per company
Planning users per company
Company size (number of employees)
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BARC’s Vendor Performance Summary contains an overview of The Planning Survey results based on feedback from CCH Tagetik users, accompanied by expert analyst commentary.Contact us to purchase the Vendor Performance Summary