Nationale Suisse selects Tagetik CPM for group consolidation and statutory reporting

Tagetik, a global provider of Corporate Performance Management (CPM) and Financial Governance solutions, today announced that Nationale Suisse, a major insurer and one of the largest companies in Switzerland, will implement a solution for group consolidation and statutory reporting based on Tagetik CPM. The decision for the Italian vendor’s third generation Corporate Performance Management (CPM) solutions came after an extensive, months-long evaluation of several market-leading solutions.

“Transparency is crucial for us,” explains Martin Harmann, Chief Account at Nationale Suisse. “Tagetik CPM offers clear structures and guidance throughout the consolidation process in a simple, transparent tool for our users. As part of the Tagetik CPM rollout, we will also convert our financial reporting to IFRS standards.”

A year after the software’s official launch in Central Europe, Tagetik already has active references in Germany, Austria and Switzerland. Although Nationale Suisse is its first customer in Switzerland, several leading companies in the banking, insurance and manufacturing industries already use Tagetik’s unified performance management solution in Germany and Austria.

“We are very pleased to welcome Nationale Suisse to our growing list of global customers: this shows that our unified solution for Corporate Performance Management and Financial Governance is right on track with what the market needs.” adds Manuel Vellutini, Chief Operating Officer at Tagetik, “As an independent software vendor, Tagetik is able to quickly bring innovative solutions to market”.
 
“We are satisfied about the rapid adoption of Tagetik CPM in Central Europe,” comments Hannes Wambach, General Manager of Tagetik DACH. “In particular, consolidation is often viewed as a market with low dynamics. But external factors like IFRS or the upcoming BilMoG reforms in Germany are forcing many companies to reconsider their current solutions. With Tagetik CPM we are perfectly positioned to meet these challenges.”

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Tagetik is a global provider of the new generation of Corporate Performance Management (CPM) and Financial Governance (FG) solutions. The extensive experience in the Corporate Performance Management market has enabled Tagetik to offer a software solution that helps companies automate processes, obtain the necessary transparency and data accuracy for compliance, improve governance, reduce costs as well as meet industry-specific requirements.

Tagetik CPM is an innovative single solution that leverages cross platform technology and delivers unified and faster process cycles, powerful scalability, short implementation time and lower total cost of ownership (TCO) thanks to its out-of-the-box CPM Processes. Tagetik CPM is the first completely financial closed-loop, double entry solution, that unifies in a single product all core CPM processes (budgeting, planning & forecasting, profitability modeling & optimization, dashboard & scorecarding, financial consolidation, statutory & management reporting), extended CPM processes (such as credit reporting & analysis, ICT performance management), vertical CPM processes (such as regulatory accounting, cash flow management by project and regulatory reporting) and Financial Governance processes (Intercompany transaction management, Reconciliations management, Financial controls and compliance, Financial close management - “The Last Mile of Finance", Financial risk management, Access and segregation of duties controls, Financial analytics).

Tagetik CPM incorporates the knowledge and best practices gained in over a decade of real-world projects. Tagetik has over 300 customers representing all industries including Financial Services (Unicredit), Manufacturing (Barilla), Insurances (Talanx), Fashion (Gucci), Healthcare (SSL Healthcare), Automotive (Yamaha).