Oracle EPM vs Tagetik

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Our analysts compared Oracle EPM vs Tagetik based on data from our 400+ point analysis of EPM Software, user reviews and our own crowdsourced data from our free software selection platform.

Product Basics

Oracle EPM is a comprehensive cloud-based suite of applications designed to automate and streamline core enterprise performance management processes. It caters to organizations of all sizes, particularly those seeking to gain deeper insights into financial data, improve budgeting and forecasting accuracy, and optimize operational efficiency. Key benefits include enhanced financial reporting, centralized data management, improved collaboration, and real-time visibility into performance metrics. Popular features include a user-friendly interface, advanced analytics capabilities, and integration with other Oracle Cloud applications. User reviews highlight the platform's scalability, robust functionality, and strong customer support. However, some users note the complexity of the software and the need for specialized training. Pricing varies based on the specific modules and deployment options chosen. On-premise implementations typically involve upfront licensing fees, while cloud-based subscriptions offer pay-as-you-go models.

Pros
  • Scalable
  • Robust functionality
  • User-friendly interface
  • Advanced analytics
  • Strong customer support
Cons
  • Complex software
  • Requires specialized training
  • High cost
  • Limited customization options
  • Integration challenges
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Tagetik is a broad all-in-one financial ERP with various modules such as budgeting, planning and forecasting, financial reporting, disclosure management, compliance regulatory reporting and more.

It runs on a unified apparatus that fuses finances and operations while facilitating consolidations and closes, scheduling, analytics and documentation, disclosures and compliance. Its deployments include cloud and on-premise.
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$250/User, Monthly
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Tailored to your specific needs
$50,000 Annually
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Tailored to your specific needs
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Product Assistance

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Knowledge Base
24/7 Live Support
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Product Insights

  • Enhanced financial reporting accuracy and transparency: Get a clear, accurate picture of your financial health with automated reporting tools and real-time data insights.
  • Improved budgeting and forecasting capabilities: Make better-informed decisions by leveraging data-driven forecasts, scenario planning, and collaborative budgeting tools.
  • Streamlined financial consolidation processes: Simplify and accelerate your financial close with automated consolidation workflows, centralized data management, and real-time reporting.
  • Increased operational efficiency and cost savings: Optimize resource allocation, identify cost reduction opportunities, and improve overall operational efficiency.
  • Enhanced collaboration and communication across departments: Break down silos and foster collaboration with a unified platform for sharing financial data, insights, and goals.
  • Real-time visibility into performance metrics and trends: Gain constant insights into key performance indicators and track progress towards strategic objectives.
  • Enhanced decision-making capabilities: Make data-driven decisions with access to actionable insights, real-time data visualizations, and predictive analytics.
  • Reduced risk of financial errors and fraud: Improve financial controls, strengthen compliance, and minimize the risk of financial errors and fraud.
  • Improved compliance with regulatory requirements: Efficiently comply with complex financial regulations with automated compliance tools and pre-built reports.
  • Scalability to accommodate future growth: Adapt to your evolving business needs with a flexible platform that can scale to accommodate future growth.
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  • Improved Forecasting: Implement real-time simulations and automation in the budgeting, planning and forecasting module to provide users with the flexibility to plan any way they want at any time. This tool helps users react swifter and make faster, well-informed decisions. 
  • Maintain Compliance: Obtain generally accepted accounting principles (GAAP), international financial reporting standards (IFRS) and extensible business reporting language (XBRL) reports to ensure bookkeeping operations meet these and other compliances. The prompt financial functions, validation rules and full audit logs guarantee users have every piece of information necessary and complete process visibility. 
  • Single Source of Truth: Access a centralized location of data in the financial reporting accessory. It moves information into documents such as monthly financial statements, board books, annual reports and more automatically so users can spend more time on high-priority accounting tasks. 
  • Ensure Accuracy: Check data entry at every turn with the disclosure management attribute. Since disclosures appear automatically with the most up-to-date information, this reduces manual data inputting and human errors, ensuring better accuracy and a better snapshot of company information. 
  • Seamless Collaboration: Facilitate reporting for the financial, management, statutory and regulatory departments with effective collaboration and control extensions so it's easier to get in touch with the report writers in case revisions or updates are needed. Users also gain full control and visibility over workflows and audit trails to ensure no stones are unturned and everything is tallied for recordkeeping and compliance purposes. 
  • In-Depth Dashboards: Handle bulk amounts of granular insights and effortlessly convert numbers into practical models, simulations and predictive analytics with the advanced analytics and dashboard appliance. Predictive analytics can help companies better plan for the future while understanding its current status and health.  
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  • Planning: Use dashboards to get insights into performance and predictive strategizing to understand how to drive the business ahead. Connect various aspects of the organization and understand how every decision impacts profitability. Verify assumptions and minimize risks with free-form modeling at scale. Structure multiple scenarios and implement accounting intelligence. 
    • Monte Carlo Simulations: Check the possibility of plots and make well-informed decisions. Automate asset-related expenses and plan efficiently for intangible assets. Review capital expenses and check impacts on cash flow, balance sheets, income statements and more. Track project performance with detailed metrics and minimize decision latency with real-time strategy and execution details. 
    • Integrated Business Planning And Execution: Establish a connection between finance, planning, execution and operation. Apply data science and machine learning to improve decision-making and speed up data analysis. 
  • Profitability and Cost Management: Invest in the right resources by analyzing which customers, products and other factors are boosting profit. Make better IT decisions by gaining insights into IT expenditure and shared services. See where money is allocated by providing shared-services prices to different departments. 
    • Automatic Price Recording: Model regulatory value by calculating and automatically recording price for overhead rate justification, jurisdiction profitability, negotiations and more. Create and maintain profitability and price structure without scripts or coding, but with point and click actions. Quickly transform assumptions and allocation methods without re-building layouts or relying on IT services. 
    • Optimization: Optimize profitability by modeling changes like adding new customers and products, changing delivery positions and more. Analyze and understand which drivers and methods affect the bottom line. Keep an eye on allocation details with money and profitability maps. 
    • Security: Make sure that only authorized people have access to data with cloud-based applications. Add new dimensions and segments as the company grows. Merge monetary data with metrics and business drivers while running step-by-step validation reports. 
    • Accessibility: Ensure accessibility with a mobile workforce and configure dashboards to analyze the most current data. Identify gaps and what is helping the bottom line with pre-built graphs and KPIs. Perform variance analysis and optimize profitability. 
  • Financial Consolidation and Close: Automatically calculate cash flow, balance sheets and reduce customization needs. Implement a pre-configured consolidation model to meet global requirements like IFRS and GAAP. Simplify complex consolidation and boost the precision of information by re-classifying, adjusting and eliminating data for accuracy and speed. Track KPIs by creating calculations for organization-specific requirements. 
    • Automate Consolidations: Minimize manual work by automating consolidations in the background. Add details to reports with a narrative commentary. Ensure transparency and compliance by enforcing segregation of duties, calculation and user-activity logging. Keep track of what changes have been made and by whom. 
  • Account Reconciliation: Automate and meet compliance requirements of high-volume transactional reconciliations. Match details of millions of transactions in minutes with an automatic engine. Speed up the matching process by confirming or declining auto-suggested matches. Develop flexible matching rules for a single or group of transactions. 
    • Automate Reconciliations: Simplify reconciliations by defining data sources and attributes for unlimited items. Save time by automatically creating journal entries. Increase accuracy by automating repetitive reconciliations like zero balance and low risk. Identify outliers that might be potentially slowing down the financial close. 
    • Compliance: Get global auditability and ensure compliance is being met with reconciliations logged in the application. Create separate profiles for each account with variances without any custom code. Control the entire process and keep the team on the same page with built-in workflows. Get the flexibility to meet specific business requirements with a pre-built format. Make intercompany reconciliations automatic and enhance close cycle effectiveness with operational and compliance dashboards. 
  • Tax Reporting: Directly access records from general ledgers and use the most current data to calculate correct tax provisions. Comply with GAAP and IFRS requirements. Minimize manual processes by directly importing tax-return details from the software. Add country-by-country data from the consolidation system. Analyze tax data from pre-built KPIs on the dashboard. Incorporate reporting details and collaborate with users around the world on local files. 
    • Provision Automation: Automate processes like research and development, tax position, compliance, provision. Develop and maintain a calendar for important tax processes like audit management and tax compliance. Evaluate price associated with transportation, handling and insurance to implement the most cost-effective shipping option. 
  • Native Reporting: Access data directly from Oracle and non-Oracle sources like spreadsheets or applications. Create a consistent and controlled process by making use of existing reports. Send a single report by combining statements and data with textual narrative. Provide authors with accurate data and add multiple writers to documents. Reuse common content by using previous reports and ensure centralized maintenance of dates, data and text. 
    • Tracking and Sharing Reports: Track report statuses on mobiles and the web. Develop reports with complete audit trails and insight into transformations. Collaborate on content and create conversational threads to carry into the entire review circle. Share reports with stakeholders at any point of development. Produce briefing books and financial record books that can be accessed via mobile, web or desktop interface. 
  • Enterprise Data Management: Establish connections between Oracle and non-Oracle applications using adapters. Import lists and save time spent validating data entry. Cross-check viewpoints to boost the quality of applications within the organization. Sign requests with shopping cart interfaces. Implement custom application validations to keep track of notes during requests. 
    • Tagging and Communication Threads: Make changes to existing items and submit new items with a single click. Tag participants and send real-time email notifications with @ references. Use communication threads to keep track of activities. Ensure security with detailed, permission-based access to applications. Compare and understand differences with a side-by-side layout. 
    • Drag and Drop: Make transformations to viewpoints within and across applications with drag and drop or fill out the details using an automated workflow. Download viewpoints to desktop files and reload to conduct mass updates. Script automated integrations with REST APIs. Boost transparency by configuring data access for external auditors. 
  • Enterprise Resource Planning: Use datasets to predict, detect and act on uncertain and unpredictable situations. Speed up overall response time by uncovering significant deviations and revealing otherwise hidden information and bias. Eliminate manual processes with automation and invest more time understanding the data instead of entering it. 
    • AI Digital Assistants: Simplify and boost common and repetitive tasks with AI-powered digital assistants. Clear approvals faster by customizing tasks and over budget notifications. Identify trends and launch models accordingly. Keep track of results in real time and refine the approach as the business progresses. 
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  • Rolling Forecasts: Develop in-depth rolling forecasts with this function in the budgeting, planning and forecasting module. Users may integrate data from tactical plans, budgets and actuals and make modifications to costs and revenue targets, generating a better estimate for fiscal year outcomes. 
  • Consolidation Cockpit: Access a specific dashboard that enables users to supervise every consolidation step and study results in the consolidation apparatus. The cockpit also exhibits particular data methods that should be performed with consideration to a specific consolidation situation. 
  • Communications: Collaborate with users across departments via comments, instant messaging or email concurrently with managers tracking project progress through dashboards in the collaboration component. 
  • Disclosure Management: Merge with Microsoft Office, ERPs, CRMs and other existing programs with this tool. Users may also coordinate text to numbers with instant narrative adjustments, reduce version overlap with support from other users, receive a centralized location of data and accelerate disclosure with pre-set templates. 
  • Compliance Regulatory Reporting: Obtain every necessary thing to expedite the regulatory reporting process while dwindling reporting sequences. Users can efficiently comply with pre-packaged solutions, diminish hazards with standard calculations and files and modify changes. 
  • Smart Reporting and Analytics: Implement documents and data queries that are equipped with financial intelligence analytical tools. 
  • On-the-Fly Analysis:  Adjust report frameworks and breakdown interior and exterior data to study outcomes rapidly.  
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Product Ranking

#18

among all
EPM Software

#32

among all
EPM Software

Find out who the leaders are

Analyst Rating Summary

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Capital Expenditure Planning
Cash Management
Financial Consolidation and Reconciliation
Integration and Extensibility
Planning, Budgeting,and Forecasting
Capital Expenditure Planning
Cash Management
Profitability Modelling and Analysis
Financial Consolidation and Reconciliation
Planning, Budgeting,and Forecasting

Analyst Ratings for Functional Requirements Customize This Data Customize This Data

Oracle EPM
Tagetik
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Capital Expenditure Planning Cash Management Financial Consolidation And Reconciliation Planning, Budgeting,and Forecasting Platform Capabilities Profitability Modelling And Analysis Project Planning Reports And Dashboards Revenue Planning Sales Planning Workforce Planning 100 100 100 100 100 100 100 100 100 100 100 100 100 99 99 78 100 76 88 94 96 98 0 25 50 75 100
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Awards

SelectHub research analysts have evaluated Oracle EPM and concluded it deserves the award for the Best Overall EPM Software available today and earns best-in-class honors for Capital Expenditure Planning, Cash Management, Financial Consolidation and Reconciliation, Planning, Budgeting,and Forecasting, Platform Capabilities, Project Planning, Sales Planning, Workforce Planning and Integration and Extensibility.

Analysts' Pick Award
Capital Expenditure Planning Award
Cash Management Award
Financial Consolidation and Reconciliation Award
Planning, Budgeting,and Forecasting Award
Platform Capabilities Award
Project Planning Award
Sales Planning Award
Workforce Planning Award
Integration and Extensibility Award

SelectHub research analysts have evaluated Tagetik and concluded it earns best-in-class honors for Capital Expenditure Planning and Cash Management.

Capital Expenditure Planning Award
Cash Management Award

Synopsis of User Ratings and Reviews

Streamlined processes: Users appreciate how EPM automates manual tasks and provides real-time insights, improving efficiency and accuracy.
Enhanced collaboration: Users value EPM's ability to facilitate seamless collaboration across departments, leading to better decision-making.
Increased visibility: Users find EPM's consolidated view of financial data across the organization invaluable for better planning and forecasting.
Improved compliance: Users appreciate how EPM helps them comply with complex financial regulations and standards.
Scalability and flexibility: Users are satisfied with EPM's ability to adapt to their changing needs and grow with their business.
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Streamlined Financial Close: Tagetik's automation features, such as its consolidation engine and intercompany reconciliation tools, help expedite the financial close process, saving valuable time and resources for accounting teams.
Enhanced Data Accuracy: The platform's data validation rules and audit trails minimize errors and ensure data integrity, leading to more reliable financial reporting.
Improved Collaboration: Tagetik's centralized platform facilitates communication and collaboration among finance and accounting teams, breaking down silos and promoting a more cohesive work environment.
Regulatory Compliance: Tagetik helps organizations comply with complex financial regulations, such as IFRS and GAAP, by providing pre-built reporting templates and disclosure checklists.
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Complexity: Users find the initial setup and configuration of EPM to be complex and time-consuming.
Cost: EPM can be expensive, especially for smaller businesses, due to licensing fees and implementation costs.
Learning curve: EPM has a steep learning curve, requiring users to invest time and resources in training.
Limited customization: While EPM offers some customization options, it may not be flexible enough for all businesses.
Integration challenges: Integrating EPM with other systems can be complex and require additional resources.
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Steep Learning Curve: Tagetik's robust functionality comes at the cost of complexity, often requiring extensive training and onboarding for users to become proficient. The interface can feel overwhelming for new users due to the multitude of features and options available.
Customization Challenges: While Tagetik offers a high degree of customization, implementing and managing these customizations can be resource-intensive and may require specialized technical expertise. This can lead to increased implementation time and costs for organizations with unique requirements.
Performance Issues: Some users report experiencing performance slowdowns, particularly when working with large datasets or complex reports. This can impact productivity and user satisfaction, especially during critical financial closing periods.
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User reviews for Oracle EPM paint a mixed picture, highlighting both its strengths and weaknesses. Many users praise its ability to automate tasks, streamline processes, and provide real-time insights, leading to improved efficiency and accuracy. They also value its ability to facilitate collaboration across departments and its centralized view of financial data, which fosters better decision-making. One user commented, "EPM has completely transformed our financial close process, reducing our closing time by 50%." Others appreciate how EPM helps them comply with complex regulations, with one user stating, "EPM has saved us countless hours and resources by automating our compliance reporting." However, some users find EPM's initial setup and configuration to be challenging and time-consuming. The cost can also be a barrier for smaller businesses. Additionally, the steep learning curve requires users to invest significant time and resources in training. Some users also expressed frustration with EPM's limited customization options and the challenges they faced integrating it with other systems. One user noted, "While EPM offers a lot of features, it can be inflexible at times and doesn't always meet our specific needs." Another user commented, "Integrating EPM with our existing ERP system was a major headache." When comparing EPM to similar products like SAP BPC and Anaplan, users often highlight EPM's comprehensive feature set, robust security measures, and seamless integration with other Oracle applications as its main differentiating factors. However, some users find SAP BPC to be more user-friendly and Anaplan to be more agile and adaptable. Ultimately, the best choice for individual users and businesses depends on their specific needs and priorities.

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Tagetik, a financial performance management software, has garnered positive feedback for its robust functionality and flexibility. Users appreciate its ability to handle complex financial processes, such as consolidations, budgeting, and forecasting, with ease. Its strength lies in its ability to adapt to unique business requirements, allowing for customization and integration with existing systems. For instance, one user highlighted how Tagetik seamlessly integrated with their ERP system, streamlining data flow and reducing manual effort. This adaptability sets it apart from competitors that offer more rigid solutions. However, some users noted that Tagetik's extensive features can lead to a steeper learning curve. The initial setup and configuration may require more time and effort compared to simpler software options. Additionally, while Tagetik offers comprehensive customer support, some users expressed a desire for more readily available resources and documentation. Despite these challenges, users generally agree that Tagetik's capabilities outweigh its complexities, making it a valuable tool for organizations with intricate financial needs. Tagetik is best suited for mid-sized to large enterprises with complex financial operations and a need for advanced reporting and analytics. Its scalability and adaptability make it an ideal choice for organizations seeking a comprehensive solution to manage their financial performance effectively. While the initial learning curve may require investment, the long-term benefits of improved efficiency, accuracy, and insights make Tagetik a worthwhile consideration for businesses looking to elevate their financial management processes.

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Tagetik

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