How CCH® Tagetik compares to common alternatives

Comparing CCH Tagetik with other EPM tools to find the right fit

CCH® Tagetik offers unparalleled strengths in financial consolidation, integrated planning, and regulatory compliance. It enables businesses to streamline financial processes, from budgeting and forecasting to performance reporting and disclosure management, with built-in financial intelligence. Additionally, its robust data integration capabilities, including seamless connections with ERP systems and a flexible deployment model (cloud or on-premise), allow companies to unify data and gain real-time insights.

By partnering with CCH® Tagetik, we help our clients:

• Automate financial consolidation to speed up the close process and reduce manual effort.
• Ensure compliance with IFRS, GAAP, and other regulatory standards through automated reporting and audit trails.
• Align financial and operational planning with powerful driver-based planning and scenario analysis.
• Improve decision-making with advanced reporting and analytics, including integrated dashboards for clear, actionable insights.

While we value the comprehensive features of CCH® Tagetik, we remain dedicated to exploring the full range of EPM alternatives to ensure our clients find the perfect solution for their specific needs. This page provides a comparison of CCH® Tagetik with other popular EPM solutions, helping you make an informed decision based on your organization’s unique requirements.

Why CCH® Tagetik ?

Any company that is looking for a unified solution for their financial consolidation, planning, reporting and regulatory compliance should choose CCH Tagetik. With its strengths in the area of financial intelligence, its regulatory expertise, and strong planning capabilities it provides many advantages to companies with complex financial and operational processes or industry-specific regulatory requirements. Additionally, its scalability, flexibility in deployment, and ease of integration with existing source systems make it a robust solution for enterprises looking to streamline and automate their financial and operational processes.

Key Capabilities and Differentiators of CCH® Tagetik

The following capabilities truly differentiate CCH® Tagetik from alternative EPM solutions:

CCH Tagetik is a unified platform that integrates all financial and non-financial processes, improving data accuracy and consistency. Compared to the common alternatives mentioned above, it has the following advantages.

• Tagetik  Consolidation: More precise and timely financial statements that comply with regulatory standards, such as IFRS.
• Tagetik Budgeting: Advanced budgeting tools that enhance  efficiency and accuracy in the budgeting process.
• Tagetik  Planning and Forecasting: Real-time data integration for responsive and accurate planning and forecasting.
• Tagetik Reporting: Simplified financial consolidation and compliance through comprehensive reporting capabilities.
• Tagetik Pricing: Adaptable pricing options to suit various organizational needs.
• Tagetik  Integration: Easy integration with ERP and BI systems, enhancing data flow and accuracy.
• Tagetik Community: Support, best practices, and resources provided through an active user community.
• Microsoft 365 Integration: Creation of managerial and statutory reports through robust integration with Microsoft 365.
• User-Friendly: Easy adoption by employees through customer-dedicate

Tagetik for Unified EPM Processes

Tagetik is a good fit for companies looking for an EPM tool that manages multiple processes. It is ideal for organizations that seek to integrate different financial processes into one unified platform, ensuring they can have all their relevant data in one.

Five EPM tools compared with CCH® Tagetik

1. Board International

Overview: Board International offers an all-in-one decision-making platform that integrates business intelligence (BI), EPM, and analytics. Board International is recognized as a Leader in the Gartner Magic Quadrant for Financial Planning Software and as a Visionary in the Gartner Magic Quadrant for Financial Close and Consolidation Software.

Strengths: Board International combines EPM functionalities with BI capabilities, so it can be used for multiple purposes. It can also be integrated with various source systems and is highly ranked for its ease of use.

Limitations: The implementation process can be lengthy and complex. According to BARC, the price-to-value ratio is below average.

2. Oracle Cloud EPM 

Overview: Oracle Cloud Enterprise Performance Management is a comprehensive suite of cloud-based applications for managing financial planning, budgeting, forecasting, and reporting. It supports a wide range of corporate performance management functions.

Strengths: Oracle Cloud EPM provides advanced features like financial close, consolidation, strategic modeling, and detailed reporting, making it a strong option for extensive EPM requirements.

Limitations: The interface feels somewhat less intuitive, and the platform's complexity may require extensive training, presenting a steeper learning curve for users.

3. Vena Solutions

Strengths: Vena’s deep integration with Microsoft Excel, Microsoft 365, and Power BI allows users to work in a familiar environment while leveraging advanced features like centralized data storage, workflows, and enhanced auditability.

Limitations: some users might encounter performance challenges with large datasets. For businesses with simple needs or smaller data sets, Vena's features are typically sufficient, but for those with complex workflows, a higher degree of integration, or a need for sophisticated analytics, there may be challenges.

Read how Vena Solutions compares to common alternatives.

4. OneStream

Overview: OneStream provides a unified platform for financial consolidation, planning, reporting, and analytics.

Strengths: The platform supports a wide range of financial and operational solutions with strong integration capabilities. Onestream is top-ranked for customer satisfaction as well as for its functionalities (data integration, predefined content and models, workflows, etc.).

Limitations: Implementation can be complex, requiring more technical skills from key users compared to Excel-integrated solutions. The unified platform approach may limit external reporting options and could impact license costs.

 5. Anaplan

Overview: Anaplan is a cloud-based planning platform that provides comprehensive solutions for business planning and performance management.

Strengths: Anaplan excels in scalability, real-time data analysis, and collaborative planning across multiple business functions. It is top-ranked for business value (business benefits, project success, and project length) and also its planning functionalities (including predictive planning).

Limitations: Implementation can be complex and time-consuming, and the platform may require significant customization to meet specific business needs.

How to select your EPM tool?

When selecting an EPM tool, it's essential to consider factors such as ease of use, integration capabilities, scalability, and support. 

• Ease of Use: To promote widespread acceptance across the enterprise, the tool should be intuitive, and user-friendly.
• Integration capabilities: It should be easy to connect the tool with current systems and data sources, offering users a unified perspective of the business.
• Scalability: As your company grows, the tool should grow accordingly to handle  increasing data quantities and complexity.
• Support: Effective customer service and training are essential for optimal deployment

Maximizing performance with the best EPM tool for your business

To drive your business’s profitability and maximize its performance, choosing the right EPM tool is crucial. The EPM tool that is right for your company will optimize your business processes, improve decision-making, and ensure compliance. 

CCH Tagetik is a unified EPM software solution. It integrates financial and operational planning, budgeting, forecasting, and consolidation processes. Common alternatives to Tagetik include Onestream, SAP BPC, Oracle Hyperion, and Prophix (Sigma Conso). According to Gartner, these tools offer varying degrees of functionality, but Tagetik is highlighted as a Leader and Visionary for its comprehensive feature set, user-friendly interface, and long-term vision. 

According to BPM Partners, a few things set CCH Tagetik apart from other vendors that provide financial consolidation and reporting solutions:

• Unified and Comprehensive Solution: Unlike many competitors, CCH Tagetik provides a fully integrated Enterprise Performance Management solution that covers not just consolidation and reporting, but also budgeting, forecasting, and extended planning (xP&A). This consolidation of data enables organizations to easily manage both financial and operational data on one screen, thus providing consistent answers and "one version of the truth" across all reporting functions​..
• No Coding and Pre-Configured Solutions: CCH Tagetik is very user friendly. It has prebuilt templates that enable fast deployment, 
• AI-Powered Predictive Intelligence: Using machine learning, it can improve forecasting, find key performance indicators, and let users make better decisions based on the data.
• Advanced Integration Capabilities: CCH Tagetik integrates with many different ERP systems and has advanced ETL capabilities that streamline the consolidation process and eliminate most manual intervention. 
• Comprehensive Regulatory Compliance and Disclosure Management: support for regulatory compliance, including ESG reporting. Other vendors usually have to use third party solutions to obtain these functionalities.
• Scalability and Flexibility: It is a scalable solution that grows with the business and can accommodate more complex needs

Other EPM options, however, also have unique strengths. Think about Vena Solutions, Board International, Oracle Cloud EPM, OneStream, or Anaplan. These alternatives may better align with your organization's specific needs, helping you maximize efficiency, accuracy, and profitability.