News Column

Tagetik Reports 2013 Financial Results

January 29, 2014

Tagetik, a provider of enterprise software solutions, announced financial results for 2013. In a release on Jan. 24 , the Company said that highlights include: -25 percent growth in revenue, the 12th straight year of double- digit growth; -37 percent growth in recurring revenue; -Over 100 new customers. "This outstanding performance is due to high demand for Tagetik's unified Financial Performance Platform and increased adoption of Tagetik Cloud," said Pierluigi Pierallini - 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." "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," said Manuel Vellutini - EVP, Chief Operating Officer at Tagetik. "Moreover, we continue to be ranked as leader in industry analysts' research 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," said Marco Pierallini - 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; -Tagetik's direct integration with the SAP HANA in-memory platform based on an original equipment manufacturer agreement with SAP AG ." "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," said 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." ((Comments on this story may be sent to newsdesk@closeupmedia.com ))


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