Tagetik Reviews & Pricing

by Tagetik Software | Founded 1986, Lucca, Italy

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Overview Pricing Benefits Reviews Features

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What is Tagetik?

Industry Specialties: Manufacturing, construction and engineering, fashion and apparel insurance, healthcare and more

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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Tagetik Pricing

Based on our most recent analysis, Tagetik pricing starts at $50,000 (Annually).

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Starting From: $50,000
Pricing Model: Annually
Free Trial: Yes, Request for Free

Training Resources

Tagetik is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for Tagetik:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
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24/7 Live Support

Tagetik Benefits and Insights

Why use Tagetik?

Key differentiators & advantages of Tagetik

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.

Industry Expertise

Since 1986, Tagetik has been a solution to contemporize and clarify CFO procedures locally and globally. It has held a reputation for providing clients with the most trustworthy, manageable and expandable software since 2005. In 2017, Wolters Kluwer — an information services leader that offers solutions that serve the finance, risk and compliance, health, tax and accounting and legal industries — acquired Tagetik. This acquisition ensures that Tagetik still provides the best programs for CFO offices.

Synopsis of User Ratings and Reviews

Based on an aggregate of Tagetik reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

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.

Cons

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.

Researcher's Summary:

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.

Key Features

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.

Limitations

With any software, it's important to be aware of its shortcomings before buying and implementing. While it comes with excellent functionality, this program is no exception. These are the known limitations of the system based on user feedback: