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OneStream or Tagetik, decided by the implementation and the data model design.
OneStream (EPM software) and Tagetik both run the close, the consolidation, the plan and the regulatory returns. They differ in who designs the dimensions and where granular data sits.
OneStream and CCH Tagetik (Wolters Kluwer's EPM software) overlap more than any other pair on a multi-entity group's shortlist. There is usually a regulatory return due. Wolters Kluwer sells the CCH Tagetik Intelligent Platform, with a granular store called the Analytic Information Hub, and OneStream sells the Intelligent Finance Platform.
- OneStream (EPM software)
- 1 application. The close, the consolidation, the plan and the report share 1 set of dimensions, and an entity can extend them below group level for more detail.
- CCH Tagetik
- A finance model for the close, the consolidation and the plan. Transaction-level data sits beside it in a relational store, the Analytic Information Hub.
- Where they differ
- OneStream keeps transaction-level detail inside its dimensions. Tagetik keeps it in the hub beside the finance model.
OneStream and CCH Tagetik both run all 10 tasks, on differently built structures.
| OneStream (EPM software) | CCH Tagetik | |
|---|---|---|
| Close 15 entities to a 5 day calendar | The close runs as tasks, certifications and locks per entity and period inside the consolidation model. | The close runs through Tagetik's workflow and process cockpit, per entity and period, on the same finance model. |
| Consolidate with ownership changes during the year | Ownership is held per entity and period, and a change in ownership takes effect from the period it belongs to. | Ownership is held in Tagetik's consolidation scope per period, and a change is recorded as a scope movement. |
| Eliminate intercompany and match the differences | Matching and elimination run per entity pair, with the matching report kept beside the period. | Intercompany matching runs as a cockpit between the counterparties, and the elimination follows in the consolidation. |
| Hold transaction-level detail beside the group figures | Detail sits in the same application as a relational blend or in an extended dimension below the group hierarchy. | Detail sits in the Analytic Information Hub, the relational store beside the finance model. |
| Load actuals from 3 ERPs | Each load carries its mapping and validation, and the user drills from the consolidated cell to the source line. | Each load runs through Tagetik's data management layer into the hub or the finance model, with its own mapping. |
| Produce an IFRS 17, Solvency II or ESG return | Regulatory returns are built in the same model, or taken ready-made from OneStream's marketplace where one exists for the regime. | Wolters Kluwer ships pre-configured content for these regimes on the platform, and insurers buy Tagetik for that content. |
| Plan on the consolidated actuals | The plan sits in the same model as the actuals, on the same entities and accounts. | The plan sits in the same finance model as the actuals, with driver logic held in Tagetik's calculation layer. |
| Test a new set of drivers against the approved plan | A scenario is a member of the scenario dimension, compared with the base without an export. | A scenario is a version in the finance model, compared through the same reports as the base. |
| Extend the chart for 1 entity without breaking the group | An entity extends the account hierarchy below the group level through Extensible Dimensionality, a OneStream mechanism. | An entity's extra detail sits in the hub or in a local dimension, and rolls to the group chart through a mapping. |
| Administer the estate afterwards | 1 finance systems team administers 1 application, its dimensions, its rules and its security. | 1 finance systems team administers the finance model and the hub, with Wolters Kluwer's content updated on its cycle. |
OneStream puts the granular detail inside the same dimensions as the group figures.
OneStream holds the close, the plan and the report on 1 set of dimensions, and an entity can extend a dimension below group level. Extensible Dimensionality lets 1 model carry a subsidiary's product detail and the group's chart at once.
Data management takes less time, because you load once into 1 model and have no second store to reconcile.
The design work on a OneStream build is the dimension design. You decide which detail extends, at which level, and who owns each hierarchy. A design mistake in month 2 means rebuilding the cubes in month 9.
CCH Tagetik keeps a relational hub beside the finance model for transaction-level data.
CCH Tagetik is a finance model for the close and the plan, with a relational store beside it. That store, the Analytic Information Hub, holds transaction-level data and feeds the finance model at the grain it needs.
Wolters Kluwer ships pre-configured content for IFRS 17, Solvency II and ESG reporting, and that content brings insurers and banks to Tagetik. Groups with a regulatory return due often look at the content first and the finance model second.
The design work on a Tagetik build is the split between the hub and the finance model, meaning what stays granular and what rolls up. Too much in the model makes it slow. Too much in the hub leaves 2 stores to reconcile.
OneStream and Tagetik differ most on where a group's transaction detail lives.
OneStream's extended dimensions suit a group that wants product and customer detail in the same dimensions as the consolidated result, with 1 team on 1 application. The main design choice is how far each dimension extends.
Tagetik's hub and model suit a group that wants a granular store several functions load into, read by a finance model at a coarser grain. The main design choice is what moves from the hub into the model, and when.
In demonstrations, both products usually run every task, and the 2 implementation teams describe the dimensions differently. Constancia is an EPM consultancy and an official OneStream partner. We write the dimension design from a survey of your data model, before we fix a price.
We also compare OneStream with SAP BPC and Board, and explain our financial consolidation work.
OneStream or SAP BPC
A BPC estate separates the plan from the consolidation before it takes either route out.
Read the comparisonOneStream or Board International
Board sits beside OneStream for planning and dashboards, and the statutory close is the main difference.
Read the comparisonFinancial consolidation
Ownership, translation and elimination built on the model the entities report from.
Read the service
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