Tagetik Reports Outstanding 2012 Results Strengthening its Ascent in the CPM
LUCCA, Italy, February 11, 2013
LUCCA, Italy, February 11, 2013 /PRNewswire/ --
Revenue growth, product innovation, and an expanding customer and partner
network fuel strong 2012 performance and pave the way for continued growth in
Tagetik, a global provider of enterprise software solutions for Performance
Management, Disclosure Management, Financial Governance and Business
Intelligence, today announced its full-year financial and non-financial
results as of December 31, 2012 .
Tagetik delivered another year with strong double-digit growth including:
*2 2 % in crease in total consolidated revenues ,
*40% increase in consolidated license revenues ,
*7 5 % in crease in revenues from international operations ,
*Continued investments on product enhancements, support and market
according to Pierluigi Pierallini - President and CEO at Tagetik (
http://www.tagetik.com/about/company/management/pierluigi-pierallini ). "We
are experiencing great momentum in the market, proving Tagetik is a solid and
viable software vendor for medium companies and the largest global
enterprises. We are highly-focused on investing, innovating, and excelling to
drive financial process optimization for the Office of Finance and continuing
our global growth in the Corporate Performance Management market."
"We are very proud of our accomplishments in 2012, it has been a great year
for Tagetik," continues Manuel Vellutini - EVP, Chief Operating Officer at
Tagetik ( http://www.tagetik.com/about/company/management/manuel-vellutini ).
"We were able to add 100 new customers to the Tagetik family; embrace new
technologies like cloud, in-memory, mobile, and analytics in ways that benefit
our customers; and make finance processes easier and more powerful for Finance
yet simple for IT to install and manage. Most importantly, we accomplished
all of this while maintaining our great customer satisfaction ratings and are
on track for an even greater year in 2013."
Key 2012 accomplishments include:
Company Mission and Focus
*Continued to extend its global reach adding customers in 35 countries
while still delivering the 'boutique' experience that has helped establish
Tagetik as the most innovative and leading-edge CPM specialist software
vendor in the market
*Continued its intense focus squarely on the Office of Finance which
resulted in outstanding customer satisfaction ratings in surveys by
leading industry analyst firms
*Provided benchmarks to help finance organizations determine their best
opportunities to improve performance and reduce costs
*Unveiled ' Performance with Passion ' as the new foundation of its
corporate identity to highlight its focus on strong customer satisfaction.
*Expanded operations into Asia via an exclusive distributorship with
Fusionex, the '2012 Microsoft Global Business Intelligence Partner of the
*Signed exclusive distribution agreement in Portugal with OnGlobal
*New distribution agreements with KPMG in Greece, Romania and Moldova
*Signed an exclusive distributorship in China to extend the Tagetik reach
into this massive, and largely untapped, market in 2013.
Product Development and Innovation
*Tagetik launched a major release of its unified Performance Management
solution , featuring a fully redesigned user experience, process-centric
navigation, Edgarization capabilities for XBRL filings, and deeper
integration with Microsoft Office including a new Microsoft PowerPoint
*Brought to market Tagetik Cloud which runs on both Microsoft Windows
Azure and Amazon Web Services. Tagetik Cloud is designed to support the
cloud needs of not only the mid-market but also large global companies and
has been selected for deployment by organizations with more than 500
*As a strategic Microsoft Partner, Tagetik was part of the SQL Server 2012
launch taking advantage of in-memory analytics, new intuitive dashboard
capabilities, and powerful self-service BI
*Released Tagetik Analytics to allow users in the Office of Finance to
create engaging analytics and dynamic reports extending the reach and
value of Tagetik deeper into its customers' user community
*Developed pre-packaged applications to support banks and insurance
companies' regulatory reporting requirements including Solvency II,
FINREP, COREP, and US and Canadian regulations.
*Tagetik added over 100 new customers , across 22 geographies , in all
*Added many new large multinational companies including Metro AG, Erste
Group Bank AG, Rabobank Group (including North America, Netherlands, and
International), Henkel Group and many others further demonstrating
Tagetik's ability to support the scale and complexity of Global 500
corporations in a single solution with a lower TCO than its competitors
*Held the 2012 'Tagetik in Touch' global conference in Lucca, Italy with
more than 600 attendees from more than 30 countries to share best
practices with their peers and experience the Tuscan culture that makes
'Performance with Passion' part of Tagetik's DNA.
Industry and Analyst Validation
*Tagetik received a near perfect score of 4.8 out of 5.0 in BPM Partners'
Annual Customer Satisfaction Survey and was highly ranked in the Gartner
CPM Customer Survey ^[ ^1 ^]
*Tagetik is positioned by Gartner, Inc. in the Visionaries quadrant of the
' Magic Quadrant for Corporate Performance Management [CPM] Suites ' ^[ ^2
*Tagetik and PwC unveiled a multinational Competence Center to support
customers in half a dozen countries throughout Europe and in North America
*Grant Thornton LLP and Tagetik signed an agreement to deliver CPM services
throughout the U.S.
*Tagetik and KPMG Advisory signed a collaboration agreement in Italy to
deliver consulting services and in the Adriatic Region through its
*Signed a distribution agreement with KPMG in Greece, Romania and Moldova,
demonstrating Tagetik's strong focus on collaborative relationships with
professional services firms which combines Tagetik's product knowledge and
finance domain expertise with its partners' extensive industry experience
*Partnered with Avanade in Germany, West Monroe Partners in United States,
Coins in United Kingdom, and extended its partnership with XLCubed, based
in the UK, and established integration with CXO-Cockpit a popular tool for
C-level dashboards specifically designed for CPM solutions.
"2012 was a great year for Tagetik and our achievements established a
foundation for continued strong global growth in 2013," concludes Mr.
About Tagetik Tagetik is 100% dedicated to simplifying and streamlining
business processes for the Office of Finance to accelerate informed decisions
that achieve strategic goals. Our award-winning Tagetik 4 Performance
Management software is the ideal solution for global companies that seek a
clearly superior level of financial expertise in a single unified solution for
planning, forecasting, consolidation, close, reporting, profitability
management, disclosure, financial governance, and analysis.
Tagetik is a rapidly growing global company with operations in more than 20
countries and 500 customers yet provides an exceptional experience by focusing
solely on the needs of finance and doing it better than anyone else. To
learn more: http://www.tagetik.com
Follow @Tagetik on Twitter, join the Tagetik Experience group on
LinkedIn, watch Tagetik's Channel on YouTube, and/or become Tagetik fan
^[ ^1 ^] Gartner does not endorse any vendor, product or service depicted in
its research publications, and does not advise technology users to select only
those vendors with the highest ratings. Gartner research publications consist
of the opinions of Gartner's research organization and should not be construed
as statements of fact. Gartner disclaims all warranties, expressed or implied,
with respect to this research, including any warranties of merchantability or
fitness for a particular purpose.
^[ ^2 ^] Gartner " Magic Quadrant for Corporate Performance Management [CPM]
Suites " by John E. Van Decker, Neil Chandler, Christopher Iervolino. 19
March 2012. Gartner does not endorse any vendor, product or service depicted
in its research publications, and does not advise technology users to select
only those vendors with the highest ratings. Gartner research publications
consist of the opinions of Gartner's research organization and should not be
construed as statements of fact. Gartner disclaims all warranties, expressed
or implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
Tagetik Corporate Press Contacts: Elisabetta PieralliniLuca Pieretti
+39-0583-96811 email@example.com Tagetik UK Press Contact: Shak
Akhtar +44(0)870-851-0540 firstname.lastname@example.org Tagetik US Press Contact:
Caitlyn Hessell +1-203-391-7520 email@example.com
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