24 January 2014
Tagetik Announces Record Year in 2013
Software vendor continues to increase its momentum in the Corporate Performance Management (CPM) market
Tagetik, a global provider of enterprise software solutions for Performance Management, Disclosure Management, Financial Governance and Business Intelligence, today announced record financial results for 2013, including:
- 25% growth in revenue, the 12th straight year of double-digit growth;
- 37% growth in recurring revenue;
- Over 100 new customers.
“This outstanding performance is due to high demand for Tagetik’s unified Financial Performance Platform (FPP) and increased adoption of Tagetik Cloud,” says– President and CEO at Tagetik. “Our next generation solutions for the Office of Finance – either on-premises or in the cloud – have been selected for deployment by mid-to-large organizations, including Global 500 corporations, across over 40 countries and all industry sectors, demonstrating our ability to support the financial and strategic needs of companies worldwide.”
Among using all or part of Tagetik’s performance management solution are: 3V SIGMA and Swarco for statutory consolidation; Banka Sparkasse for consolidation, planning, budgeting, CDM, FINREP and COREP; BXR Group, Cape, Eferton Group and Sekerbank for consolidation and CDM; Ferrovial for IT Performance Management; Mirvac for CDM and financial closing, Italtel for budgeting, cash flow, statutory consolidation and financial reporting; Leukemia & Lymphoma Society, Onsite Rentals and Randstad France for budgeting and planning; Loacker for statutory consolidation and management reporting; Sirti for consolidation, cash flow planning and operational control; The Gorman Rupp Company for financial consolidation, reporting and CDM; Koninklijke Reesink for CDM; Agrial for budgeting and reporting, Calzedonia for cashflow planning.
“Tagetik has strengthened its presence and revenue in key markets such as North America, UK, France and the DACH area and is extending operations in Russia, Poland, Ukraine, Malta and Brazil, further expanding its global reach to 30 geographies,” adds – EVP, Chief Operating Officer at Tagetik. “Moreover, we continue to be ranked as leader in for our product vision and outstanding customer satisfaction. We are very proud of the results from this past year and are very well positioned to capitalize on our momentum going into 2014.”
“2013 also saw the introduction of key product development initiatives and innovations following the increasing adoption of cloud and in-memory technology,” continues – EVP, Chief Development Officer at Tagetik. “This includes:
- Tagetik Cloud which delivers full feature-rich functionality that improves business processes with the advantages and flexibility of a unified, cloud-based Financial Performance Platform;
- based on an original equipment manufacturer (OEM) agreement with SAP AG (NYSE: SAP).”
“Our continued success confirms that organizations need a single, unified Financial Performance Platform that delivers financial consolidation and close; budgeting and forecasting; strategic and long-range planning; profitability management and analytics; disclosure management and Collaborative Integrated Reporting,” concludes Vellutini. “By continually listening to our clients, we have developed the most complete and innovative solution on the market today and we look forward to continuing a successful 2014 for Tagetik, our customers, and our partners.”
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