STAMFORD, Conn. and LUCCA, Italy, Dec. 1 /PRNewswire/ -- Tagetik, a global provider of Performance Management (PM) and Financial Governance software solutions, was among the select companies that Forrester Research, Inc. invited to participate in its November 2009 report: "The Forrester Wave(TM): Business Performance Solutions, Q4 2009". In this evaluation, Tagetik was cited as a Strong Performer in the Business Performance Solutions category. Strong Performers were cited for offering functional depth and flexible application toolkits. The firm was one of ten vendor companies evaluated in the study, which stated that Tagetik is, "laser-focused on financial process excellence."

The study evaluated Tagetik's 3.0 offering, released this past June. Tagetik 3.0 was identified as having very robust financial modeling capabilities for planning and profitability analysis. Its financial consolidation component was described as among the best the independent research firm has evaluated.

"Our inclusion in this and other analyst's studies is indicative of our having developed a robust performance management offering. The market place is giving Tagetik 3.0 solid acceptance as demonstrated by 150% growth in new United States customers so far in 2009," said Tagetik Chief Operating Officer Manuel Vellutini.

The report stated that "Tagetik has achieved significant success with large clients throughout Europe and it is gaining traction in the US as well." Criteria for vendor inclusion in the study were:

• A complete core BPS offering that includes at least three of the four core BPS capabilities (planning and budgeting, financial consolidations, cost and profitability management, and strategy and performance measurement applications).
• Annual revenues currently exceeding $5 million and an installed base of at least 100 live customers.
• Financial viability and frequent mention by clients in Forrester Inquiries.

Once vendors have met the preliminary criteria for inclusion, the Forrester Wave Methodology examines past research, user need assessments, and vendor and expert interviews to develop the initial evaluation criteria. To evaluate vendors against these criteria, the firm gathers details of product qualifications through a combination of lab evaluations, questionnaires, demos, and/or discussions with client references. Vendors then review the evaluations to be sure they provide the most accurate view of their offerings and strategies.

About Tagetik

Tagetik is a global provider of latest generation Performance Management and Financial Governance software solutions that help CFOs and CIOs simplify complex business practices. Its key innovation is a fully unified financial closed-loop, double entry solution incorporating all core Performance Management processes in a single product, include budgeting, planning, forecasting, financial consolidation and performance measurement. Its "out-of-the-box" core Performance Management processes, web-based, cross-platform technology, powerful scalability, and shortened implementation time have reduced total cost of ownership for customers worldwide in all major industries.

Tagetik CPM supports financial governance requirements such as 10K and 10Q reporting, while helping automate financial processes to achieve transparency and meet compliance needs. The company currently has an active customer base of 350 companies in 22 countries. Headquartered in Lucca, Italy, Tagetik North America has Sales, Service and Marketing operations in Stamford, Conn. For further information visit www.tagetik.com.

SOURCE Tagetik

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