2 September 2010
Stamford, CT (USA)
Tagetik reports strong first half 2010 in the USA
Tripled turnover and growing customer satisfaction strengthen Tagetik to market flexible performance management platform
Tagetik, a global provider of Performance Management, Enterprise Governance, Risk & Compliance and Business Intelligence software solutions, today reported strong business figures from its U.S. operation, Tagetik North America LLC, as well as positive customer feedback for the first semester of 2010 Fiscal Year.
“We are very satisfied with these positive results in U.S., especially in a doldrums business climate,” says Manuel Vellutini, EVP Chief Operating Officer (COO) at Tagetik. “Tagetik North America has tripled the revenues compared to last year and leverages more than 10 satisfied customers as well as new partner alliances. These figures are in line with the corporate double-digit growth – both consolidated (+33%) and on new license revenues (+61%) –, 32 new customers from all international operations and a growing relationship with Microsoft Corp., confirming an outstanding H1 for Tagetik worldwide and encouraging investments to further develop a key-market to us, like North America.”
Tokens of this bright performance are first hand customer experiences and market’s growing demand for fast and flexible performance management solution. “We had been contemplating a change in our CPM approach for the past couple of years and Tagetik 3.0 provided a very flexible solution overall with powerful built-in functionality that met our strict requirements for the new forecasting methodology we planned to employ at our firm,” commented Timothy Armstrong, Chief Operating Officer at Vinson & Elkins LLP, an international law firm based in Texas. “Compared to SAP, Tagetik was the clear winner for replacing our SRC product. During the evaluation phase, we could already see how the solution would fit in our environment.”
“At Propex we need a budgeting and consolidation tool that gives us the ability to create solutions that are sophisticated, comprehensive, flexible, and integrated for our global business,” comments Steve Powell, VP, Global Treasury and Financial Planning at Propex Operating Company LLC a global manufacturer of industrial fabrics headquartered in Chattanooga, Tennessee. “After looking at numerous platforms we chose Tagetik because of their flexibility, extensibility, and breadth of experience in the field. In the coming weeks we look forward to partnering with Tagetik to design and deploy a world class solution for our budgeting and forecasting processes that can realize our business goals.”Tagetik North America, which has been active on the U.S. market since 2008, attributes their growing demand to the slow but steady recovery following the recent economic crisis. “Now that the clouds hovering over the business climate are finally starting to lift, many organizations are looking to invest in technologies to help them better weather the next economic storm,” explained Mark Corsetti, Vice President & General Manager at Tagetik North America. “With Tagetik 3.0, companies can quickly implement powerful CPM solutions that flexibly adapt to their individual business and industry requirements. Best of all, each of these processes – from planning and budgeting to financial consolidation or rolling cash flow forecasts – are unified on a single platform. This ensures that companies can better manage their assets and business performance while lowering the total cost of ownership for these systems at the same time.”Last but not least, Tagetik won Bobrick Washroom Equipment , a leading manufacturer of commercial bath accessories and bathroom partitions, who will implement Tagetik 3.0 for their budgeting, financial planning and consolidation processes.
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