CCH Tagetik

CCH Tagetik is an Italian software vendor and solutions partner for CPM and finance-oriented corporate management which was founded in 1986 in Lucca (Italy) as a management consultancy. In 2017, Tagetik was acquired by Wolters Kluwer, a global company with revenues of 4.3 billion Euro in 2018 that provides information, software and services to a variety of industries, including the health, tax, accounting, risk and compliance, finance and legal sectors.

The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. CCH Tagetik, a part of the Tax and Accounting division, provides solutions to CFOs for corporate performance management, and is available on-premises and in the cloud. According to the vendor, 75,000 users at more than 1,000 customer organizations in 35 countries worldwide use its solutions.

The product is a unified web-based platform for CPM (financial consolidation, planning and budgeting), financial corporate management, risk management and compliance as well as disclosure management. CCH Tagetik targets mid-sized and large companies (or groups of affiliated companies) with lots of users involved in corporate planning and/or financial consolidation processes. Additional regulatory solutions are available (e.g., IFRS, Solvency II) based on the CCH Tagetik platform.

From a planning perspective, CCH Tagetik is focused on integrated financial planning and budgeting, with top-down, bottom-up and mixed approaches all supported. The Analytical Information Hub offers more flexible and scalable possibilities in the context of open data modeling, financial performance management (e.g., regulatory reporting, IFRS 16), planning and analytics. From a technical perspective, the Analytical Information Hub is based on a separated, relational database domain (Microsoft SQL Server, SAP HANA), which can be administered in business departments using the CCH Tagetik user interface and modeling tools.

Write-back to the Analytical 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. 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.

In terms of reporting and analysis, CCH Tagetik’s integrated functionality is geared to the on-screen display (not printing) 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 BI products (partly OEM) from XLCubed, Microsoft, SAP and Qlik. 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 ad hoc query and reporting (84 percent), standard/enterprise reporting (64 percent) and financial consolidation (59 percent). 38 percent of respondents plan to use it for dashboards/scorecards and 37 percent for advanced analysis in the future. CCH Tagetik targets mid-sized companies and large corporations across all industries.

55 percent of our sample of CCH Tagetik customers come from mid-sized companies (100-2,500 employees) with a median of 100 users (with 80 of them using planning functionality), but the mean of 152 users (116 for planning) indicates there are also some larger implementations. 79 percent of CCH Tagetik users are planning users – well above the survey average of 63 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)

N=33

Percentage of employees using CCH Tagetik

N=33

Planning users (as a percentage of all users)

N=33

Total number of users per company

N=33

Planning users per company

N=33

Company size (number of employees)

N=33

Summary of CCH Tagetik highlights

With twelve top ranks and nine leading ranks across three different peer groups, Wolters Kluwer’s CCH Tagetik achieves a great set of results in this year’s Planning Survey. Convincing ratings in numerous important KPIs help to consolidate its position as a global market-leading CPM vendor. Companies can benefit from using CCH Tagetik in terms of more precise/detailed planning and improved integration of strategic and operational planning, which combine to lead to improved employee satisfaction, increased transparency of planning and increased competitive advantage.

An overwhelming 97 percent of respondents are ‘somewhat satisfied’ or ‘very satisfied’ with CCH Tagetik, a major reason behind its high recommendation rate of 94 percent. CCH Tagetik offers a unified platform for CPM (financial consolidation, planning and budgeting), financial corporate management, risk management and compliance as well as disclosure management. Its customers are largely satisfied with the software.

Driver-based planning – Top-ranked

Peer Group: Global Vendors

Ease of use – Top-ranked

Peer Group: Global Vendors

Functionality – Top-ranked

Peer Group: Global Vendors

Implementer support – Top-ranked

Peer Group: Global Vendors

Workflow – Top-ranked

Peer Group: Global Vendors

Want to see the whole picture?

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.

Purchase the Vendor Performance Summary

Planning Survey 19 Awards

CCH Tagetik

Peer Groups European vendors, Financial performance management products, Global vendors
VendorWolters Kluwer | CCH Tagetik
Number of responses33
ProductCCH Tagetik
Offices14 offices worldwide in Italy (HQ), United States (HQ), Germany, Austria, Switzerland, Belgium, France, Netherlands, Sweden, United Kingdom, Canada, Singapore, Japan and China
Employees500
Customers> 1,000
Revenues (2018)n/s
Websitewww.tagetik.com

Product Video

Screenshots from CCH Tagetik

Quotes from the Planning Survey 19

Much more transparent and structured process for creating corporate planning than with Excel. Even very complex planning solutions can be implemented.
Person responsible/Project manager for departmental BI, manufacturing, 101-2,500 employees
Very good tool for planning, consolidation and reporting, user-friendly and quick to implement.
External consultant, consulting, less than 100 employees
Competent, innovative partner. High-performance, flexible, easy to implement and powerful solution which was able to generate very high employee satisfaction in our controlling processes and sustainably strengthened the role of controlling.
Head of business department, retail/wholesale/trade, more than 2,500 employees
Very good tool which has its strengths in the planning, harmonization and consolidation of company data.
Person responsible/Project manager for departmental BI, manufacturing, 101-2,500 employees
Very innovative company with excellent people and support.
External consultant, consulting, less than 100 employees