12 February 2015
Stamford, Conn. and Lucca, Italy.
Global Growth Spurs Record Breaking Year for Tagetik
Significant growth in 2015 to be driven by innovative and targeted performance management products and expanded investments in Marketing, Sales, and R&D
Tagetik, a visionary leader in global performance management software solutions, today announced its record financial results for 2014, and highlighted its plans for significant growth in 2015 supported by its recent . Results for 2014 included:
- 35 percent growth in revenue (13th straight year of double-digit growth)
- 36 percent increase in Tagetik Cloud revenue
- 115 new customers globally
- Strong growth in key verticals including banks, insurance and manufacturing.
- Recognized as a global leader in customer satisfaction, product capabilities and technology innovation by major analyst firms
Tagetik continues to expand its global reach and deliver results for businesses across multiple industries and geographies. Strong performance of Tagetik’s prepackaged solution for Solvency II and an increased number of customers using Tagetik Cloud were two of many contributing factors.
Some of customers Tagetik added in 2014 include: Generali Group, Aggreko, Fiat Chrysler Finance, CNH Industrial Finance, Barilla, GLS, Siemens VAI Metals Technologies, Teka, Whistler Blackcomb Holdings, Webster Bank, Shanghai Volkswagen, ONVZ, Nelnet, Carhartt WIP. A listing of some other additional new customers can be found at this link.
“We will be aggressively investing in 2015 to drive significant growth. We will be nearly doubling our teams in key markets including North America, the UK, and France; and will be increasingour staff by almost 50% globally,” said Manuel Vellutini, co-chief executive officer, Tagetik.“With the capital support we received last year, we will drive our global expansion with a strongfocus on North America, Tagetik Cloud, and dramatically expanding our vertical market presence in insurance, banking, manufacturing and consumer packaged goods.”
Along with strong customer and revenue growth, Tagetik also launched , the latest version of the company’s corporate performance management (CPM) platform, including expanded capabilities and a new intuitive user interface, native mobility, dashboards and in-memory technology. All of these advancements enhance the common user experience, collaboration, and workflow across budgeting,forecasting and planning, consolidation and close, disclosure management and compliance, internal and external reporting, and workflow and process management.
“We’re helping CFOs innovate to better drive performance and efficiency, deliver better results and validate business decisions,” stated, co-chief executive officer, Tagetik. “Through our increased research and development efforts, we have delivered the only CPM solution that offers “The Cloud without Compromise”. Tagetik Cloud has the depth of financial intelligence that the Office of Finance needs for advanced planning, consolidation, close, disclosure and analytics with the benefits of the cloud. With the release of Tagetik 5 we have delivered the perfect combination of embedded financial intelligence, specialized packaged applications, innovative technology, and ease of use to the market. 2015 is going to be a great year for Tagetik customers.”
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