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5 Considerations for increasing the value of your investment

5 Considerations for increasing the value of your investment

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5 Considerations for increasing the value of your investment.

Over the years, we have been asked by CCH Tagetik customers to help them find ways to maximize the value of their existing CCH Tagetik investments. This post describes the 5 most common factors limiting CCH Tagetik’s use. If you recognize any of these, you also may have untapped potential.

1. An abundance of consolidation scenarios Tagetik stores entity data in an original scenario. When consolidating a certain scope of entities, this data is copied, translated and consolidated in a consolidation scenario. We noticed that some CCH Tagetik users were creating and maintaining dozens of consolidation scenarios per calendar year. We advise customers to refrain from using consolidation scenarios unless there is the explicit need for external disclosure, for example in an annual report.

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2. Financial account and management accounting: friends or foes Every corporation is looking to scrutinize and manage financial performance from different angles – understanding cost by nature as well as cost by function and understanding segmental contribution margins. Only in rare situations do these financial views originate from a single source.

Transactional systems often separate financial accounting from management accounting. Think about how SAP clearly separates the SAP FI module from the SAP CO module. This raises the question, “How wise is it to combine both sources in a single income statement view in CCH Tagetik by applying custom dimensions on the income statement accounts?”.

3. Underestimating transactional thinking in the data model Tagetik stores entity data in an original scenario. When consolidating a certain scope of entities, this data is copied, translated and consolidated in a consolidation scenario. We noticed that some CCH Tagetik users were creating and maintaining dozens of consolidation scenarios per calendar year. We advise customers to refrain from using consolidation scenarios unless there is the explicit need for external disclosure, for example in an annual report. We advise customers to refrain from using consolidation scenarios unless there is the explicit need for external disclosure, for example in an annual report.

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