Tagetik: success in 2006 and continued growth in 2007

Double-digit growth, continuous expansion in Italian and international markets, technological innovation and development and focus on the value of human capital: this sums up the results for 2006 and outlook for 2007 for Tagetik, the first Italian company to become an international player in the Corporate Performance Management (CPM) market.

“2006 was a year of great changes and of great achievements for Tagetik,” said Pierluigi Pierallini, President and CEO. “With a 40% increase in turnover, 44 new customers, 200 employees, a 40% increase compared to last year, and 35% of turnover devoted to R&D and training, we decided to take up the international challenge, drawing on the culture of innovation and customer focus that have always been at the heart of our business. Tagetik’s steady development into an international company has also been guaranteed by our young, talented and enthusiastic management team, which is directly responsible for our operational activities and strives to maintain a ‘family’ dimension where all our customers can feel they are truly our main focus.”

Tagetik is now a successful player on the Italian market and is continuously expanding at the international and sectoral level. In fewer than six months, in line with the company’s objectives, Tagetik opened four new European offices in Germany, Austria, Portugal,  Switzerland and recently announced the opening of Tagetik North America. Tagetik’s success is reflected by our standing in the market, and in 2006 some of the leading companies in Italy and abroad have turned to Tagetik, including BNL, Capitalia, Tecnimont, Techint, Sara Assicurazioni, Walt Disney Company Italia, Fininvest, Milan, Yamaha, Graniti Fiandre, Banca Leonardo, Coni, Medusa Film and Panaria and others that have joined our family of 250 customers.

The financial sector was one of the key growth areas for Tagetik both in Italy and internationally. The company won new contracts and expanded existing agreements with major banks, including, Unicredit, BNL, Capitalia, Credem, Bank of Austria, Bank Pekao and Banca Leonardo  among others, consolidating Tagetik’s leadership in this market.

“Companies come to us because our solution, Tagetik CPM, unifies all Corporate Performance Management applications and processes into a single product, which allows us to meet the needs of companies regardless of their size or business. It is precisely with this in mind that in 2007 we will increase our focus on the development of vertical markets, expanding functionalities and meeting industry sectors,” said Manuel Vellutini, Chief Operating Officer, Tagetik. “Our experience has shown that this approach to CPM can produce savings of more than 50% in the total cost of acquisition, installation, training and management, the so-called TCO - total cost of ownership - as defined by Gartner.”

“We have set ourselves highly ambitious and challenging objectives for 2007 and we will continue to focus on human capital, namely our employees and our customers,” said Pierluigi Pierallini, Tagetik. “We expect to see further development of our international expansion, with the opening of new distributors in Europe and Asia, the hiring of new staff in Research & Development to guarantee product evolution and new investments in consulting and marketing/sales areas.”

Founded twenty years ago in Lucca by Pierluigi Pierallini under the name of Gruppo Servizi, the company takes its new name from Tagete, a mythical figure in the form of a young boy, who suddenly appeared on earth to teach the ancient Etruscans the art of divination and interpreting the future. Synonymous with creative drive, wisdom and skill, the name underscores the company’s bond with its place of origin and offers symbolic representation of the human essence.  

About Tagetik

Tagetik is an international provider of the next generation of Corporate Performance Management (CPM) solutions. 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 TCO. With over 10 years of experience, Tagetik has embedded the knowledge and best practices of its customers into Tagetik CPM.

Tagetik CPM is the first software solution with built-in, flexible and unified financial, operational CPM and application processes such as budgeting, financial planning, consolidation, financial and operational reporting and analysis. Tagetik has over 250 customers including Unicredit, Telecom Italia, Bank Pekao, Manuli Rubber Industries, SSL Healthcare, Mediaset, De Agostini, Fininvest, Mediobanca, BNL, Eni Snamprogetti, IFI-Ifil, Marzotto, Valentino, Banca Popolare di Milano, Impregilo, Astaldi, ERG, Acea, Brembo, Milan, Techint, Illy, Il Sole 24 Ore, Yamaha,  Barilla.