Welcome!

AJAX & REA Authors: Pat Romanski, Elizabeth White, Trevor Parsons, ChandraShekar Dattatreya, Liz McMillan

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
Mobile commerce traffic is surpassing desktop, yet less than 20% of sales in the U.S. are mobile commerce sales. In his session at 15th Cloud Expo, Dan Franklin, Segment Manager, Commerce, at Verizon Digital Media Services, defined mobile devices and discussed how next generation means simplification. It means taking your digital content and turning it into instantly gratifying experiences.
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session a...
"Ulunsoft is a start-up that focuses on how enterprises build cloud-based IT infrastructure for business," explained Haibo Zhu, President of Ulunsoft Corp, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"At our booth we are showing how to provide trust in the Internet of Things. Trust is where everything starts to become secure and trustworthy. Now with the scaling of the Internet of Things it becomes an interesting question – I've heard numbers from 200 billion devices next year up to a trillion in the next 10 to 15 years," explained Johannes Lintzen, Vice President of Sales at Utimaco, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in San...
As enterprises engage with Big Data technologies to develop applications needed to meet operational demands, new computation fabrics are continually being introduced. To leverage these new innovations, organizations are sacrificing market opportunities to gain expertise in learning new systems. In his session at Big Data Expo, Supreet Oberoi, Vice President of Field Engineering at Concurrent, Inc., discussed how to leverage existing infrastructure and investments and future-proof them against e...
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"For over 25 years we have been working with a lot of enterprise customers and we have seen how companies create applications. And now that we have moved to cloud computing, mobile, social and the Internet of Things, we see that the market needs a new way of creating applications," stated Jesse Shiah, CEO, President and Co-Founder of AgilePoint Inc., in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Desktop as a Service is emerging as a very big trend. One of the big influencers of this – for Esri – is that we have a large user base that uses virtualization and they are looking at Desktop as a Service right now," explained John Meza, Product Engineer at Esri, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
"Application monitoring and intelligence can smooth the path in a DevOps environment. In a DevOps environment you see constant change. If you are trying to monitor things in a constantly changing environment, you're going to spend a lot of your job fixing your monitoring," explained Todd Rader, Solutions Architect at AppDynamics, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
"SOASTA built the concept of cloud testing in 2008. It's grown from rather meager beginnings to where now we are provisioning hundreds of thousands of servers on a daily basis on behalf of customers around the world to test their applications," explained Tom Lounibos, CEO of SOASTA, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
“We are a managed services company. We have taken the key aspects of the cloud and the purposed data center and merged the two together and launched the Purposed Cloud about 18–24 months ago," explained Chetan Patwardhan, CEO of Stratogent, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core...
"Verizon Digital Media Services is responsible for the broadcast, video and content delivery network that accelerates, scales and helps our customers reach end users with all kinds of video and web content," stated James Segil, CMO of Verizon Digital Media Services, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Creative Business Solutions will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Creative Business Solutions is the top stocking authorized HP Renew Distributor in the U.S. Based out of Long Island, NY, Creative Business Solutions offers a one-stop shop for a diverse range of products including Proliant, Blade and Industry Standard Servers, Networking, Server Options and...
You use an agile process; your goal is to make your organization more agile. But what about your data infrastructure? The truth is, today's databases are anything but agile - they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver new features and capabilities needed to make your organization competitive. As your application an...
“We are strong believers in the DevOps movement and our staff has been doing DevOps for large enterprise environments for a number of years. The solution that we build is intended to allow DevOps teams to do security at the speed of DevOps," explained Justin Lundy, Founder & CTO of Evident.io, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.