Tagetik positioned in leading industry analyst firm's Magic Quadrant for CPM Suites

Tagetik, a global provider of Corporate Performance Management and Financial Governance software solutions, today announced that it has been positioned in the “Magic Quadrant for CPM Suites, 2008” [1].

This annual report published by Gartner, Inc. (NYSE: IT) evaluates software vendors on their completeness of vision and ability to execute. Gartner defines Corporate Performance Management (CPM) in the “Magic Quadrant for CPM Suites, 2008” [1] as including “the processes used to manage corporate performance, such as strategy formulation, budgeting and forecasting; the methodologies that support these processes, including the balanced scorecard, or value-based management; and the metrics used to measure performance against strategic and operational performance goals. However, CPM also comprises a series of analytic applications, such as BP&F, financial consolidation, and financial-reporting solutions, which provide the functionality to support these processes, methodologies and metrics, targeted at the CFO, finance team, senior executives and corporate-level decision makers.”

“We believe Tagetik’s positioning in the Magic Quadrant confirms the consistent execution of our vision during 2008,” explains Manuel Vellutini, COO of Tagetik. “We have been expanding internationally across Europe and North America where now we have a strong team as well as a growing number of reference. Our continuous investments in product development, local customer support and partner networks are paying off with solid market traction.”

“By delivering a unified, complete solution for CPM and Financial Governance, Tagetik helps CFO and CIO simplify business complexity and reduce the total cost of ownership in today’s challenging economic climate,” Vellutini continues. “In 2009, we will continue to deliver strong value to our customers both in terms of products and services. We are expanding our product roadmap in close cooperation with technology partners to incorporate new processes and a broader view of BI and PM beyond traditional CPM. We will also confirm our globalisation program investing in new partnership and marketing activities in the existing operations and also expanding in Asia/Pacific region.”

According to the Gartner report, the market for CPM suites is growing and maturing rapidly with 2007 license and maintenance revenues exceeding $1.8 billion for 19% year-on-year growth. 

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[1] About the Magic Quadrant (Disclaimer Required)
The Magic Quadrant is copyrighted 2008 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.


About Tagetik
Tagetik helps CFOs and CIOs simplify complex business processes. A complete financial closed-loop software for Performance Management and Financial Governance that unifies key processes and applications – ranging from planning & consolidation, to strategy management, profitability modeling, statement reporting, working capital analysis and ICT performance management – thanks to “built-in” processes. Tagetik has a reliable and scalable solution to manage and control overall performance, support compliance initiatives, harmonize different views of critical financial data and enable maximum visibility down to business transactions. Since the software leverages web-based and cross-platform technology, IT departments can leverage their existing ERP, BI and infrastructure investments resulting in up to 50% reduction of the total cost of ownership (TCO). Tagetik employs over 300 experts in Italy and abroad with offices in United States, France, Austria, Germany, Portugal, Spain, South East Asia, Switzerland, The Netherlands, UK & Ireland. Tagetik shares its successful strategy with worldwide and local partners and over 350 worldwide satisfied customers representing all industries including Unicredit Group, Telecom Italia, Mediaset, Barilla, De Agostini, Gucci, Fininvest, BNL, Altair Engineering, Houghton Mifflin Harcourt, Bank Austria, Banco Privado Portugues, Talanx AG, Nationale Suisse, Menarini Group, Volex Group, M+W Zander, IFIL, Aries Complex, Astaldi, Acea, SDA Express Courier, Yamaha Motor Italia, Techint, Milan AC, RAI, Costa Crociere.