Oesterreichische Volksbanken-AG Relies on Tagetik 4.0 for Consolidating Financial Data

Vienna; Austria, UnterschleiƟheim; Germany and Lucca; Italy 4 September 2012

Tagetik and pmOne AG deliver software solution for the central institution of Volksbanken in Austria to automate its consolidated financial statements production process

Tagetik, a global provider of enterprise software solutions for Performance Management, Disclosure Management, Financial Governance and Business Intelligence, today announced that Oesterreichische Volksbanken-AG (VBAG) has selected Tagetik 4.0 to manage their statutory consolidation and reporting processes.

Tagetik's distributor in Germany, Austria and German-Speaking Switzerland, pmOne AG will support the financial services institution headquartered in Vienna in implementing their new software solution.

During the selection process, Tagetik scored as the best solution due to the breadth and depth of its software functionality. Moreover, Tagetik 4.0's ability to automate the process of producing consolidated financial statements and segment reporting, from start to finish, will support VBAG business needs and its complex and dynamic organizational structure.

"We were searching for a software solution that could provide flexibility, speed and user friendliness and our evaluation showed that Tagetik 4.0 would best meet our needs.

The software functionally is strong and well designed to address our complex financial consolidation issues effectively and efficiently. We are confident that the solution will support our current and future Performance Management challenges," says Gudrun Zillich, Head of Group Accounting at VBAG.

"Tagetik is particularly strong in the banking and financial services markets and has industry-tailored capabilities which our customers benefit from. In addition, the Tagetik

4.0 software is able to address standards such as FinRep and CoRep enabling financial institutions to submit data to the regulatory authorities or the National Bank," explains Hannes Wambach, Director of pmOne GmbH.

"This is another example of the combination of how built-in financial intelligence and the domain expertise of Tagetik consultants and our partners, provides unparalleled value to our customers in financial services. We are proud to add Oesterreichische Volksbanken-AG to our growing list of financial services customers across the globe," adds Sabrina Rosati -Executive Vice President, Professional Services at Tagetik ( http://www.tagetik.com/about/management/sabrina-rosati).

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