Volex Group Plc Selects Tagetik Cpm to Manage Performance

10 November 2008

Tagetik, a global provider of Corporate Performance Management (CPM) and Financial Governance solutions, today announced that Volex Group Plc, a publically quoted (London Stock Exchange, VLX) global producer of electronic and fibre optic cable assemblies, electrical power cords and harnesses, has selected Tagetik CPM to replace their existing Infor FDC application and provide them with a web-based, enterprise wide CPM solution to drive performance improvements across the group.

The selection of the Tagetik Corporate Performance Management (CPM) solution came after detailed evaluation of a number of market-leading solutions. Tagetik was chosen for its comprehensive understanding of CPM and its extensive built-in functionality. The fact that it is a single product, on a single platform, that can be managed and maintained with minimal support and a lower total cost of ownership than many other solutions available in the market were also important selection factors.

“Tagetik’s people showed a depth of knowledge, experience and commitment for success, which were key considerations in our selection process,” comments Ian Baxter, Group Finance Controller, Volex Group plc. “The personable approach of the team coupled together with the comprehensive product capability, placed Tagetik CPM ahead of the crowd.”

“We are delighted to welcome Volex Group to our growing list of global customers, this shows that our unified solution for CPM and Financial Governance is right on track with what the market needs.” adds Shak Akhtar, Managing Director at Tagetik UK & Ireland. “With increasing regulatory demands and ever shortening timelines to report, it is essential that organisations utilise latest generation technology, such as Tagetik CPM, to give Finance teams visibility and greater understanding of the results, avoiding surprises. Not only does Tagetik provide superior functionality in this area but provides greater advantage for our customers by unifying all CPM and Financial Governance processes in a single product, which translates into tangible benefits and greater value for our customers.”
“We are pleased to announce that our globalisation strategy is running as planned and that our newly opened UK office has already won its first customer,” concludes Manuel Vellutini, Chief Operating Officer at Tagetik. “This just goes to show that, especially in tough financial times, companies need to invest in solutions that support their strategic processes and drive business performance!”

Tagetik is a global provider of the new generation of Corporate Performance Management (CPM) solutions. The extensive experience in the Corporate Performance Management market has enabled Tagetik to offer a software solution that helps companies automate processes, obtain the necessary transparency and data accuracy for compliance, improve governance, reduce costs as well as meet industry-specific requirements.

Tagetik CPM is an innovative single CPM solution that leverages cross platform technology and delivers unified and faster process cycles, powerful scalability, short implementation time and lower total cost of ownership (TCO) thanks to its out-of-the-box CPM Processes. Tagetik CPM is the first completely financial closed-loop, double entry CPM solution that unifies all core CPM processes (budgeting, planning & forecasting, profitability modelling & optimisation, dashboards & scorecarding, statutory consolidation and financial & management reporting), extended CPM processes (such as credit reporting & analysis, ICT performance management, compliance), vertical CPM processes (such as regulatory accounting, cash flow management by project and regulatory reporting) and Financial Governance processes in a single product.

Tagetik CPM incorporates the knowledge and best practices gained in over a decade of real-world projects. Tagetik has over 300 customers representing all industries including Financial Services (Unicredit), Manufacturing (Barilla), Insurances (Talanx), Fashion (Gucci), Healthcare (SSL Healthcare), Automotive (Yamaha).

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