Welcome!

AJAX & REA Authors: Aria Blog, Rajesh Lain, Sebastian Kruk, RealWire News Distribution, Harald Zeitlhofer

News Feed Item

Tagetik Reports Outstanding 2012 Results Strengthening its Ascent in the CPM Market

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 2013

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:

  • 22% increasein total consolidated revenues,
  • 40% increase in consolidated license revenues,
  • 75% increase inrevenues from international operations,
  • Continued investments on product enhancements, support and market expansion,

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.

Global Reach

  • Expanded operations into Asia via an exclusive distributorship with Fusionex, the '2012 Microsoft Global Business Intelligence Partner of the Year'
  • Signed exclusive distribution agreement in Portugal with OnGlobal Solutions
  • 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 Add-in
  • 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 global users
  • 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.

Worldwide Customers

  • Tagetik added over 100 new customers, across 22 geographies, in all industry sectors
  • 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

Partner Network

  • 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 distributor CRMT
  • 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. Vellutini.

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  on Facebook.

[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 Pierallini
Luca Pieretti
+39-0583-96811
[email protected]

Tagetik UK Press Contact:
Shak Akhtar
+44(0)870-851-0540
[email protected]

Tagetik US Press Contact:
Caitlyn Hessell
+1-203-391-7520
[email protected]

SOURCE Tagetik

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In their General Session at 15th Cloud Expo, Phil Jackson, Development Community Advocate at SoftLayer, and Harold Hannon, Sr. Software Architect at SoftLayer, to discuss how to take advantage of a multitude of compute option...
Come learn about what you need to consider when moving your data to the cloud. In her session at 15th Cloud Expo, Skyla Loomis, a Program Director of Cloudant Development at Cloudant, will discuss the security, performance, and operational implications of keeping your data on premise, moving it to the cloud, or taking a hybrid approach. She will use real customer examples to illustrate the tradeoffs, key decision points, and how to be successful with a cloud or hybrid cloud solution.
In today's application economy, enterprise organizations realize that it's their applications that are the heart and soul of their business. If their application users have a bad experience, their revenue and reputation are at stake. In his session at 15th Cloud Expo, Anand Akela, Senior Director of Product Marketing for Application Performance Management at CA Technologies, will discuss how a user-centric Application Performance Management solution can help inspire your users with every appli...
With the explosion of the cloud, more businesses are transitioning to a recurring revenue model to generate reliable sales, grow profits, and open new markets. This opportunity requires businesses to get to market quickly with the pricing and packaging options customers want. In addition, you will want to take advantage of the ensuing tidal wave of data to more effectively upsell, cross-sell and manage your customers. All of this is possible, but only with the right approach. At 15th Cloud Exp...
Planning scalable environments isn't terribly difficult, but it does require a change of perspective. In his session at 15th Cloud Expo, Phil Jackson, Development Community Advocate for SoftLayer, will broaden your views to think on an Internet scale by dissecting a video publishing application built with The SoftLayer Platform, Message Queuing, Object Storage, and Drupal. By examining a scalable modular application build that can handle unpredictable traffic, attendees will able to grow your de...
The cloud provides an easy onramp to building and deploying Big Data solutions. Transitioning from initial deployment to large-scale, highly performant operations may not be as easy. In his session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, will discuss the benefits, weaknesses, and performance characteristics of public and bare metal cloud deployments that can help you make the right decisions.
Over the last few years the healthcare ecosystem has revolved around innovations in Electronic Health Record (HER) based systems. This evolution has helped us achieve much desired interoperability. Now the focus is shifting to other equally important aspects – scalability and performance. While applying cloud computing environments to the EHR systems, a special consideration needs to be given to the cloud enablement of Veterans Health Information Systems and Technology Architecture (VistA), i.e....
Cloud and Big Data present unique dilemmas: embracing the benefits of these new technologies while maintaining the security of your organization’s assets. When an outside party owns, controls and manages your infrastructure and computational resources, how can you be assured that sensitive data remains private and secure? How do you best protect data in mixed use cloud and big data infrastructure sets? Can you still satisfy the full range of reporting, compliance and regulatory requirements? I...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using...
Is your organization struggling to deal with skyrocketing volumes of digital assets? The amount of data is growing exponentially and organizations are having a hard time managing this growth. In his session at 15th Cloud Expo, Amar Kapadia, Senior Director of Open Cloud Strategy at Seagate, will walk through the essential considerations when developing a cloud storage strategy. In this discussion, you will understand the challenges IT is facing, why companies need to move to cloud, and how the...
If cloud computing benefits are so clear, why have so few enterprises migrated their mission-critical apps? The answer is often inertia and FUD. No one ever got fired for not moving to the cloud – not yet. In his session at 15th Cloud Expo, Michael Hoch, SVP, Cloud Advisory Service at Virtustream, will discuss the six key steps to justify and execute your MCA cloud migration.
The 16th International Cloud Expo announces that its Call for Papers is now open. 16th International Cloud Expo, to be held June 9–11, 2015, at the Javits Center in New York City brings together Cloud Computing, APM, APIs, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speak...
Most of today’s hardware manufacturers are building servers with at least one SATA Port, but not every systems engineer utilizes them. This is considered a loss in the game of maximizing potential storage space in a fixed unit. The SATADOM Series was created by Innodisk as a high-performance, small form factor boot drive with low power consumption to be plugged into the unused SATA port on your server board as an alternative to hard drive or USB boot-up. Built for 1U systems, this powerful devic...
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual C...
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, has been named “Bronze Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Cloudian is a Foster City, Calif.-based software company specializing in cloud storage. Cloudian HyperStore® is an S3-compatible cloud object storage platform that enables service providers and enterprises to bui...
SYS-CON Events announced today that TechXtend (formerly Programmer’s Paradise), a leading value-added provider of server and storage virtualization, and r-evolution will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. TechXtend (formerly Programmer’s Paradise) is a leading value-added provider of software, systems and solutions for corporations, government organizations, and academic instit...
Every healthy ecosystem is diverse. This is especially true in cloud ecosystems, where portability and interoperability are more important than old enterprise models of proprietary ownership. In his session at 15th Cloud Expo, Mark Baker, Server Product Manager at Canonical/Ubuntu, will discuss how single vendors used to take the lead in creating and delivering technology, but in a cloud economy, where users want tools of their preference, when and where they need them, it makes no sense.
The consumption economy is here and so are cloud applications and solutions that offer more than subscription and flat fee models and at the same time are available on a pure consumption model, which not only reduces IT spend but also lowers infrastructure costs, and offers ease of use and availability. In their session at 15th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, will discuss this shifting dynamic with ...
The emergence of cloud computing and Big Data warrants a greater role for the PMO to successfully manage enterprise transformation driven by these powerful trends. As the adoption of cloud-based services continues to grow, a governance model is needed to orchestrate enterprise cloud implementations and harness the power of Big Data analytics. In his session at 15th Cloud Expo, Mahesh Singh, President of BigData, Inc., to discuss how the Enterprise PMO takes center stage not only in developing th...
Cloud computing started a technology revolution; now DevOps is driving that revolution forward. By enabling new approaches to service delivery, cloud and DevOps together are delivering even greater speed, agility, and efficiency. No wonder leading innovators are adopting DevOps and cloud together! In his session at DevOps Summit, Andi Mann, Vice President of Strategic Solutions at CA Technologies, will explore the synergies in these two approaches, with practical tips, techniques, research dat...