Revenue growth, product innovation, and an expanding customer and partner network fuel strong 2012 performance and pave the way for continued growth in 2013
Tagetik, a global provider of enterprise software solutions for Performance Management, Disclosure Management, Financial Governance and Business Intelligence, today announced its full-year financial and non-financial results as of December 31, 2012.
Tagetik delivered another year with strong double-digit growth including:
22% increase in total consolidated revenues,
40% increase in consolidated license revenues,
75% increase in revenues from international operations,
Continued investments on product enhancements, support and market expansion,
According to Pierluigi Pierallini – President and CEO at Tagetik. “We are experiencing great momentum in the market, proving Tagetik is a solid and viable software vendor for medium companies and the largest global enterprises. We are highly-focused on investing, innovating, and excelling to drive financial process optimization for the Office of Finance and continuing our global growth in the Corporate Performance Management market.”
“We are very proud of our accomplishments in 2012, it has been a great year for Tagetik,” continues Manuel Vellutini – EVP, Chief Operating Officer at Tagetik. “We were able to add 100 new customers to the Tagetik family; embrace new technologies like cloud, in-memory, mobile, and analytics in ways that benefit our customers; and make finance processes easier and more powerful for Finance yet simple for IT to install and manage. Most importantly, we accomplished all of this while maintaining our great customer satisfaction ratings and are on track for an even greater year in 2013.”
Company Mission and Focus
Continued to extend its global reach adding customers in 35 countries while still delivering the ‘boutique’ experience that has helped establish Tagetik as the most innovative and leading-edge CPM specialist software vendor in the market
Continued its intense focus squarely on the Office of Finance which resulted in outstanding customer satisfaction ratings in surveys by leading industry analyst firms
Provided benchmarks to help finance organizations determine their best opportunities to improve performance and reduce costs
Unveiled ‘Performance with Passion’ as the new foundation of its corporate identity to highlight its focus on strong customer satisfaction.
Expanded operations into Asia via an exclusive distributorship with Fusionex, the ‘2012 Microsoft Global Business Intelligence Partner of the Year’
Signed exclusive distribution agreement in Portugal with OnGlobal Solutions
New distribution agreements with KPMG in Greece, Romania and Moldova
Signed an exclusive distributorship in China to extend the Tagetik reach into this massive, and largely untapped, market in 2013.
Product Development and Innovation
Tagetik launched a major release of its unified Performance Management solution, featuring a fully redesigned user experience, process-centric navigation, Edgarization capabilities for XBRL filings, and deeper integration with Microsoft Office including a new Microsoft PowerPoint Add-in
Brought to market Tagetik Cloud which runs on both Microsoft Windows Azure and Amazon Web Services. Tagetik Cloud is designed to support the cloud needs of not only the mid-market but also large global companies and has been selected for deployment by organizations with more than 500 global users
As a strategic Microsoft Partner, Tagetik was part of the SQL Server 2012 launch taking advantage of in-memory analytics, new intuitive dashboard capabilities, and powerful self-service BI
Released Tagetik Analytics to allow users in the Office of Finance to create engaging analytics and dynamic reports extending the reach and value of Tagetik deeper into its customers’ user community
Developed pre-packaged applications to support banks and insurance companies’ regulatory reporting requirements including Solvency II, FINREP, COREP, and US and Canadian regulations.
Tagetik added over 100 new customers, across 22 geographies, in all industry sectors
Added many new large multinational companies including Metro AG, Erste Group Bank AG, Rabobank Group (including North America, Netherlands, and International), Henkel Group and many others further demonstrating Tagetik’s ability to support the scale and complexity of Global 500 corporations in a single solution with a lower TCO than its competitors
Held the 2012 ‘Tagetik in Touch’ global conference in Lucca, Italy with more than 600 attendees from more than 30 countries to share best practices with their peers and experience the Tuscan culture that makes ‘Performance with Passion’ part of Tagetik’s DNA.
Industry and Analyst Validation
Tagetik received a near perfect score of 4.8 out of 5.0 in BPM Partners’ Annual Customer Satisfaction Survey and was highly ranked in the Gartner CPM Customer Survey
Tagetik is positioned by Gartner, Inc. in the Visionaries quadrant of the ‘Magic Quadrant for Corporate Performance Management [CPM] Suites’*
Tagetik and PwC unveiled a multinational Competence Center to support customers in half a dozen countries throughout Europe and in North America
Grant Thornton LLP and Tagetik signed an agreement to deliver CPM services throughout the U.S.
Tagetik and KPMG Advisory signed a collaboration agreement in Italy to deliver consulting services and in the Adriatic Region through its distributor CRMT
Signed a distribution agreement with KPMG in Greece, Romania and Moldova, demonstrating Tagetik’s strong focus on collaborative relationships with professional services firms which combines Tagetik’s product knowledge and finance domain expertise with its partners’ extensive industry experience
Partnered with Avanade in Germany, West Monroe Partners in United States, Coins in United Kingdom, and extended its partnership with XLCubed, based in the UK, and established integration with CXO-Cockpit a popular tool for C-level dashboards specifically designed for CPM solutions.
“2012 was a great year for Tagetik and our achievements established a foundation for continued strong global growth in 2013,” concludes Mr. Vellutini.
* Gartner “Magic Quadrant for Corporate Performance Management [CPM] Suites” by John E. Van Decker, Neil Chandler, Christopher Iervolino, 19 March 2012.