14 November 2012
Tagetik to Provide Cost and Efficiency Benchmarks to Finance Organizations of Large Enterprises
Benchmark research reveals that top performers save millions by better managing financial performance management processes
Tagetik, a global provider of enterprise software solutions for Performance Management, Disclosure Management, Financial Governance and Business Intelligence, today announced that it has purchased the rights to distribute key finance organization benchmarks compiled by research and benchmarking firm, APQC. The result is a free benchmark infographic and personalized Excel calculator to determine best opportunities to improve performance and reduce costs (www.tagetik.com/infographic).
According to the APQC benchmark research, the cost of finance in top performing finance organizations is almost three times lower than bottom performers. That translates to $233M less cost in a $20B company. Top performers also:
- Spend 6x less on the financial reporting process;
- Spend 3x less on the annual planning process;
- Produce the annual budget in 14 fewer days;
- Take 5 fewer days to produce consolidated financial statements;
- Publish quarterly earnings releases in 6 fewer days;
- Publish annual earnings releases in 20 fewer days;
- Deliver management reporting in 6 fewer days.
“In the current economic environment we are all under pressure to understand and control our business performance and cost structure,” says Manuel Vellutini – Executive Vice President, Chief Operating Officer at Tagetik. “Tagetik software has helped large companies world-wide reduce the cost and improve the performance of their finance processes from budgeting and planning all the way through final financial disclosure. We are providing these APQC benchmarks and an Excel ‘impact calculator’ to help finance organizations determine their best opportunities to improve finance performance and reduce costs.”
Download a free benchmark infographic and personalized Excel calculator to determine the potential impact on your business: www.tagetik.com/infographic
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