Tagetik is a corporate performance management solution that unifies budgeting, financial planning, consolidation and management reporting. Tagetik is offered as SaaS, on a private cloud, or on-premise, and can migrate between deployments as needed.
N/A
Thomson Reuters ONESOURCE
Score 7.3 out of 10
N/A
Thomson Reuters ONESOURCE is a portfolio of tax and accounting technology for corporations designed to help users boost collaboration with departments and partners and ensure seamless tax compliance no matter where a company does business.
N/A
Pricing
Wolters Kluwer CCH® Tagetik
Thomson Reuters ONESOURCE
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
Wolters Kluwer CCH® Tagetik
Thomson Reuters ONESOURCE
Free Trial
No
No
Free/Freemium Version
No
No
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
No setup fee
No setup fee
Additional Details
—
—
More Pricing Information
Community Pulse
Wolters Kluwer CCH® Tagetik
Thomson Reuters ONESOURCE
Considered Both Products
Wolters Kluwer CCH® Tagetik
Verified User
Anonymous
Chose Wolters Kluwer CCH® Tagetik
After yeras of SAP adoption we decided to give a chance to Wolters Kluwer CCH® Tagetik as it was a new company on the market and offers us full support to archivi our targets
Compared to the competitors, Tagetik offered a platform mainly better in user overall experience, since this was one of the most important needs of the business. Also, reporting and data entry functionalities seemed to work better compared to the competitors, also considering …
We use Wolters Kluwer CCH® Tagetikfor budgeting, reporting, and consolidation already for a couple of years. And to speed up our (monthly / quarterly) close, we recently implemented the transaction matching and account reconciliation modules from Wolters Kluwer CCH® Tagetik. …
Oracle Essbase is another EPM software that we used but compared to Tagetik, it's not user friendly and the creation of dimensions and describing rules are more technically difficult. Drill down and analysis are not as easy as double clicking on Cch tagetik for immediate …
Similar, but with key strengths (report formats and online help and support) and some shortfalls (e.g. HFM ad-hoc reporting and smart view tools are better than those in Wolters Kluwer CCH® Tagetik). On balance, taking into account licensing and the full cost of ownership, …
SAP S/4 HANA is a standalone tool for databases. I don't know any other product which is that effective with the databases. but for many customers it's too expensive and powerful which also results in the knowhow is needed and otherwise its really hard to get into SAP S/4 HANA …
Tagetik have a better integration in all parts in our customers systems. it is a lot easier to implement the data. SAP has the problem that there is a lot of different programms and tools, which has to buy to work with a complete tool. But if one part is missing the total sap …
We have been using CCH Tagetik for uploading Financial data from our other ERP system such as ACCPAC, Navision, Talent etc.. My experience with SAP was using them as ERP system. Thus can't really do a lot of comparison between the two system. The main reason why CCH Tagetik was …
We have had a 3-year experience with Anaplan for budgeting and
performance management on part of our business. Anaplan is brilliant
provided you have technical skills to manage multi-dimensional data, and
1. Price - CCH Tagetik offers a price advantage as compared to bigger competitors. 2. Modules - CCH Tagetik is able to provide what the Finance of today needs. 3. Usability - It is not difficult to use once a user is able to grasps hold of the Tagetik concept and mechanism
We wanted a more accounting-based solution to meet IFRS 17. There are some solutions which were fundamentally more data-based or actuarial-based, hence we wanted a solution that was fundamentally strong in accounting/ financial applications.
CCH Tagetik was in the end the best choice for us. As I was not directly involved in the decision making process, I don't have all the details, but a combination of costanalysis, ease-of-use, migration-analysis and the fact that CCH Tagetik has a dutch office almost in walking …
As said, Thomson Reuters ONESOURCE has been a great resource for Company and industry information; especially the more elusive private Company information which is hard to find on the public domain apart from the company website or sources, which could be marketing biased. The …
As I said it is an easy-to-use platform and saved us time and money. They have great customer service and have helped our company get new hires checked and in-service faster than our old company. By combining the two services in one place it has made it easier for the new hire …
Thomson Reuters has a central location for the documents. It is time saving and truly is streamlined which is one of the main reasons why this program beats out the competition. Most of the areas that one source is lacking is at the very least the equivalent or better than the …
OneSource is behind Avalara in many ways. However, at our time of implementation Avalara could not handle some of the calculations we required. That has changed since.
We've considered numerous income tax compliance tools in the past, including ProSystems. However they've never lived up to the billing of the ONESOURCE Income Tax module.
Additionally, we've considered Corp-Tax, but it just didn't have the look and feel of the ONESOURCE …
ONESOURCE blows Sovos out of the water. would take ONESOURCE 10 out of 10 times. The two biggest differentiators are the friendliness and helpfulness of customer support and the overall capabilities of the software.
Sabrix/Onesource provides truly global content - Vertex is not there yet. If a business operates in US only, both Sabrix and Vertex would be good choices.
Well suited for large multi-entity international, multi-currency, multi GAAP groups with excellent report writing features, customizations, and validation traps with minimal IT support. The ability to customize dimensions and dimension structures is a key strength. The intuitive user interface enables easy adoption by new users and training times are short. Upload features via embedded customisable ETL and standardised Excel templates are very efficient. Error checking is intuitive and helpful. Less appropriate for small single entity businesses.
ONESOURCE is well suited for organizations that want to maintain their compliance efforts within a single platform. Most of the software looks and operates in a similar manner, which makes it easy to navigate and integrate yourself into additional products. Additionally, the ONESOURCE platform is a great platform for anyone looking for a provider that stays on top of tax law changes and will quickly integrate the changes into their product.
Processes are clearly described in CCH Tagetik ; users can easily find where they are and which action they have to make
Interaction with Excel is really fluid ; the Excel add-in is easy to deploy and to updgrade, in the hand of users. It is reliable provided the internet connection is fast.
Managing hierachies is obvious in CCH Tagetik. Hierarchies are fundamental for a good reporting ; CCH Tagetik has obviously a deep experience of this feature.
SaaS : our experience with CCH Tagetik is of only 1 year, but it technically performs well, the system is reponsive, no shut-down, and updates (every quarter) do not disturb production.
AIH seems to be able to manage very large quantity of data, and to provide advanced analysis functionalities. We did not have time to explore them.
The ability to recall data from prior years is great. We constantly get requests to pull prior year forms and the system allows us to complete these requests efficiently.
The ability to track tax information events (such as print filing dates, b-notices, and recipient responses) is a huge benefit of ONESOURCE and is one of the main reasons we utilize their service over that of their competitors.
ONESOURCE customer service is highly responsive. One of the huge benefits of working with ONESOURCE is the assigned CES who answers any & all questions relating to not only the software itself, but the underlying tax requirements and due dates, etc.
The steps of setting up the loading of data is slightly painful.
The steps and error message while connecting the process workflow has to provide a hint on which area needed to be fixed (because it could be anywhere or anything).
The combination of 2 segments for the excel upload on what's needed to eliminate is yet to resolved. Which made the entire list very long.
High TOC. No patching strategy for Onesource. Each bug fix is basically a new implementation, requiring an end-to-end regression test for SSabrix/Onesource and each connected ERP.
Lack control of developments. Often a bug fix release contains changes to other - undocumented - areas within the application which leads to multiple implementation iterations.
Limited collaboration with ERP providers. If something goes wrong in the connector to an ERP system (e.g. due to ERP version upgrade), Thomson Reuters is not as connected with the ERP vendor as could be desired i.e. the burden of connecting the ERP provider with the Onesource provider (TR) is laying with the customer. This is especially true for the Oracle Fusion integration.
High project cost. When connecting to an ERP system for the first time , the integration with Sabrix is costly due to the need for connector development (less for the actual Sabrix configuration).
Based on our business requirements, its current implementation and way of use (in terms of the efficiceny) it's more than certain that we will renew our contract with CCH Tagetik. CCH Tagetik increased our efficiency regarding reporting and provides more features which made it easier to take decisions. Besides of that, it provided he best solutions for reporting according to the Solvency II standards. Since this is still the case, it is also a reason to stay with CCH Tagetik.
To reiterate - a very useful tool for private company information, otherwise not forthcoming on the public domain. It is very crucial in Company analyses for various lenses, slices and dices of Company information. Also useful in industry analysis and in list building. Overall a great research and analytics tool.
On a general level, it is a flexible, streamlined system, that can integrate operational data with accounting data for a better financial overview and budget planning. Reporting wise, the types and the amount of data analysis available or that can be created are close to endless. Having a quicker, more flexible way of analysing data certainly means better, faster reporting and better use of the data itself.
CCH Tagetik has alwyas been there in case we need help. In almost 20 years of commercial relationship, I have no evidence of times in which they were not available to answer a question or to solve an issue linked to their products, timely and efficiently.
As you can see, speed depends on the applications but also on the hardware that runs them. As far as CCH Tagetik improved, we saw the benefit of a cloud-based solution which could solve many speed performance issues.
I have had the pleasure of attending some courses at the dutch offices of CCH Tagetik. These were very educational with excellent trainers, a very enjoyable accomodation and they helped me a lot with regards to starting to use CCH Tagetik.
The ONESOURCE support has improved significantly over the years. Support sends out emails with the answer provided which helps in the future when the same issue occurs. This reduces the amount of calls to ONESOURCE Support as you can better document the calls and rely on previous answers if the same issue occurs. ONESOURCE support has also implemented a callback feature that reduces the amount of time spent on hold.
Online training is the only form of training we could deploy during the pandemic. This service has been nonethless delivered with the same standards and the same results of the traditional training procedures.
we did it in a coaching model. This allowed us to have 2 key advantages: we got to know the system very well and managed to save on the implementation cost. This worked well, was maybe a bit slower since we had to do this in our spare time. Nevertheless I strongly recommand
Oracle Essbase is another EPM software that we used but compared to Tagetik, it's not user friendly and the creation of dimensions and describing rules are more technically difficult. Drill down and analysis are not as easy as double clicking on Cch tagetik for immediate information. But as I have not used this software much and tagetik more, this is all I can say
Thomson Reuters has a central location for the documents. It is time saving and truly is streamlined which is one of the main reasons why this program beats out the competition. Most of the areas that one source is lacking is at the very least the equivalent or better than the competition so the parts that it does better really elevates the software against the competition
A good and performing scalability both on a geographical and a legal entity scale. The link with MS Office suite allows an easy deployment of the application, especially for contributors.
It has definitely helped to standardize reporting across the company. Teams are able to pull the same reports and everything has the same feel to it.
Since there are so many standard reports that we are able to create, it makes the analysts jobs easier since they are not spending so much time re-creating reports.
With any system, there is going to be some admin work required. Creating new reports, accounts and entities does take time, but it is fairly simple and doesn't take a ton of time.
By moving the tax return preparation process in-house by utilizing ONESOURCE, the company has significantly reduced the costs associated with filing the income tax returns.
ONESOURCE has given the company better control over the data.
By utilizing ONESOURCE, the company has better internal documentation that will assist in defending future audits without having to rely on outside accounting firms.
