Tagetik Announces Tagetik CPM 2.0 at Business Intelligence Summit 2008

Unification of processes becomes even more strategic for companies and CPM becomes the right answer to 10K 10Q issues

Tagetik today released Tagetik CPM 2.0. The announcement was made at Gartner's Business Intelligence Summit, 2008. Tagetik is a global provider of the new generation of Corporate Performance Management (CPM) solutions and Tagetik was positioned in  Gartner’s Magic Quadrant for CPM suites. 1
Tagetik CPM 2.0, enhances the unification of processes and includes new innovative functionality for all the “core” processes (Budgeting, Planning & Forecasting, Profitability Modeling & Optimization, Dashboard & Scorecard Applications, Financial Consolidation, Financial Statutory and Management Reporting). It also offers new extended CPM processes such as Credit Reporting and Analysis, ICT performance management and Governance risk compliance incorporated with a more sophisticated and intuitive interface, all supported by Flex 2 technology.
Today Tagetik offers a cutting-edge solution for Corporate Performance Management by extending the unification of CPM processes beyond the core applications supported by an innovative technology. The new version of the product was designed to help companies handle growing pressures created by increasingly competitive markets and adapt to new regulatory requirements such as 10Q - 10K, IAS, Basel 2, SOX, Securities and Investment Laws, Regulatory accounting, etc. In addition , Tagetik CPM 2.0 now delivers Balanced Scorecarding that allows companies to measure corporate performance in an increasingly consistent manner.
“In today’s market, Tagetik CPM 2.0 is the only software solution that unifies all CPM processes in one single product”, says Manuel Vellutini, Chief Operating Officer of Tagetik. “Tagetik CPM 2.0 is a reflection of our entrepreneurial status. In fact, we are the only independent firm capable of competing with the big international players that are currently focusing on mergers and acquisitions that lead to integration of different products, not unification. The unification of technologies and processes is the only way to reduce TCO and maximize efficiency for organizations. This is a critical issue that we face and resolve every day across the world with our 300 clients”.
“Regarding the American market, Tagetik delivers Extended Processes in Financial Governance to meet US SEC Filings” adds Vellutini “Tagetik guarantees you to perform 10Q & 10K reporting in a timely manner , meeting the CFO’s needs”.
Tagetik CPM 2.0 offers powerful, built-in functionalities that are already unified in a precise process workflow approach, managing all phases of the CPM cycle such as Budget/Forecasting, Statutory Consolidation & Management Reporting, Strategic & Financial Planning, Closing & Allocation, and Reporting all in one software, one technology, one database and one front-end. This is why data is unified, transparent, completely traceable and provides a single version of the truth, thereby addressing the CFO’s real audit and control needs. In addition, the IT environment is simple and easy to use, ensuring user independence and low TCO.
Tagetik is present in the United States based in Stamford (Connecticut) and is consolidating its presence with a global network of partners.

About Tagetik
Tagetik is a global provider of the new generation of Corporate Performance Management (CPM) solutions. With over 10 years of experience, Tagetik has embedded the knowledge and best practices of its customers into Tagetik CPM.
Tagetik CPM is an innovative single CPM 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 CPM 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 (Ex.: credit reporting & analysis, ICT performance management, governance risk compliance) and vertical CPM processes (Ex.: regulatory accounting, cash flow management by project and mandatory reporting). Tagetik has over 300 customers all industries, such as Financial Services (Unicredit), Manufacturing (Barilla), Insurances (Talanx), Fashion (Gucci), Healthcare (SSL Healthcare), Automotive (Yamaha) and others.

1) Magic Quadrant for CPM Suites, 2007,  19 December 2007 by Nigel Rayner, Neil Chandler and John E. Van Decker

The Gartner Magic Quadrant is copyrighted December 2007 by Gartner, Inc., and is reused with permission.  The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period.  It depicts Gartner’s analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner.  Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the “Leaders” quadrant.  The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action.  Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.