Tagetik in Portugal

Banco Privado Portugues Banks on Tagetik CPM

Tagetik, a global provider of the new generation of Corporate Performance Management (CPM) solutions, today announced that Banco Privado Português (BPP) has successfully implemented an integrated solution for consolidation, budgeting and financial reporting using Tagetik CPM.  The international bank, which specializes in private banking and equity as well as corporate advisory, completed this landmark project within months after Tagetik opened operations in Portugal.  

"Only an exceptional team and a superior product could achieve results of this magnitude in such a short time," explained Manuel Vellutini, Chief Operating Officer at Tagetik. "Our team in Portugal has vast experience in the CPM field, hands-on experience in managing complex business scenarios as well as in-depth knowledge of the banking sector."

"Banco Privado Português decided to implement a unified solution for Corporate Performance Management so that it could quickly respond to its current and specific needs," added José Carlos Ranito, Managing Director of Tagetik Portugal. "Most of all, BPP valued that its employees could use the software on their own after just a few days of training and that Tagetik CPM speaks the “banking language”.

BPP’s prime objectives for the CPM project were consolidating 22 companies with a common currency and accounting standards as well as ensuring a seamless integration with its existing ERP application, Olympic Banking System.

Using Tagetik CPM, BBP has been able to unify and streamline its reporting processes and reduce its consolidation cycle by 75%. In addition to completing the project on time (10 weeks) and within budget, the company was highly pleased with the smooth transition to the new application from both technical as well as business standpoints.

This landmark project is also symbolic for Tagetik’s thriving globalization strategy. Its success is driven by the bright, young and enthusiastic business professionals in its local operations as well as Tagetik’s powerful solution which is adaptable to the unique situations, regulations and requirements facing companies in different countries and industry around the globe.

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 (Banco Privado Portugues, Unicredit), Manufacturing (Barilla), Insurances (Talanx), Fashion (Gucci), Healthcare (SSL Healthcare), Automotive (Yamaha) and others.