What is our primary use case?
Our primary use case is for forecasting and budgeting. We budget capital expenditures, the full P&L financial statement. We have our top-level VPs enter their driver rules and then Finance goes on the back-end and calculates the gross margin impact of that. We capture operational expenses down to the vendor level. We also do all of management reporting.
The performance has been great so far.
How has it helped my organization?
The benefits are
- getting the data in one spot
- the ability to report dynamically
- version control.
What is most valuable?
I think it's flexible. I chose this solution because, even though it wasn't out-of-the-box, you can customize it, and the long-term growth potential of the software is where I see the value.
What needs improvement?
More export to Excel functionality. Right now, we're having to build within the cloud-based platform, as well as build within the Excel add-in, because the export to Excel is somewhat ugly. So we're doing both simultaneously.
For how long have I used the solution?
Less than one year.
What do I think about the stability of the solution?
What do I think about the scalability of the solution?
I think it's very scalable. Again, that's why we chose it, because I think there are endless possibilities to do more. Right now, we're just using it for FP&A-type functions. But the BI functionality, which is the core business, I think is tremendous.
Which solution did I use previously and why did I switch?
We were just using Excel, there were version control issues, mistakes on copy/paste. We needed a dynamic solution that would be accurate.
Our most important criteria when selecting a vendor are
- customer service and level of support
- the ability for a non-IT person to maintain the system
- long-term growth in functionality - I don't want something that's going to be out-dated three years from now.
How was the initial setup?
The setup was so-so (somewhere between straightforward and complex). I think if you are IT-savvy, I think you can get it good enough. It's definitely meant for an end-user to be able to be a power user in the system.
Which other solutions did I evaluate?
The final decision came down between Borg and Tagetik. We chose it because BOARD was a sandbox, instead of out-of-the-box. Tagetik is great, it's ready to go, but three years from now, that's all it is, that's all it's ever going to be, just financial reporting. I was looking for something that can change over time.
What other advice do I have?
I think that from talking with other customers here at the BOARDVille 2018 user conference, your consultant, if you're using a BOARD consultant, I think that that person is very important. Also, just allow ample time, because it is a sandbox, the startup time is going to be more considerable than out-of-the-box solutions.