The Sarbanes-Oxley Act (also known as Sarbox or SOX) was enacted in the United States on 30 July 2002 in order to strengthen corporate governance and restore investor confidence. The Act was a response to the financial scandals and corporate bankruptcies experienced by a number of internationally-prominent groups in the United States.

These scandals resulted in a great loss of confidence with respect to Corporate Reporting and have imposed the need to change the existing financial discipline to avoid market abuse and affirm Corporate Responsibility.

The Sarbanes-Oxley Act requires companies the certification of financial information and provision of appropriate internal controls for regularity of budget reporting. Regarding the Directors, a designated CEO and CFO is responsible for the content of financial information and budgets of companies. They are required to personally certify the accuracy of accounting documents and information disclosed to the market.

In addition, the Sarbanes-Oxley Act requires management to develop internal controls necessary to ensure transparency and traceability of financial information and deemed directly responsible for the preparation and maintenance of an adequate system of internal supervision for the information to the market.


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Tagetik is a global software vendor of the first unified Performance Management & Financial Governance solution to help CFOs and CIOs simplify complex business processes.

A complete financial closed-loop software, Tagetik 3.0 unifies key processes and applications – such as budgeting, planning & forecasting, financial consolidation, financial governance, strategy management, profitability modeling, working capital analysis – to manage and control overall performance, support compliance initiatives, harmonize different views of critical financial data, enable maximum visibility down to business transactions. In this way, the CFO can support the CEO in monitoring the implementation of strategies, ensure their sustainability and control corporate performance.

Since the software leverages “built-in” processes and cross-platform technology – fully web-based and integrated with any ERP, our customers can profit by up to 50% reduction of the total cost of ownership (TCO).