STAMFORD, Connecticut and LUCCA, Italy, November 5, 2015 /PRNewswire/ --
Tagetik's Corporate Performance Management Solution Plays Major Role in
Post's "Why Not Cloud?" Strategy for Supporting Rapid Business Growth
Tagetik, a visionary leader in global performance management software solutions, announced today that Post Holdings (NYSE: POST), whose brands include Raisin Bran, Shredded Wheat, Grape-Nuts, Honey Bunches of Oats and Power Bar, has been awarded Saugatuck Technology's 2015 Beacon Award for Business Innovation. Post Holdings was one of four companies recognized for excellence and innovation in the use of cloud technology at Saugatuck Technology's Cloud Business Summit, held November 4 at the Yale Club in New York City.
Since its founding in 2012, Post Holdings has completed 11 acquisitions, quadrupled its revenue, and grown its workforce from 1,500 to approximately 8,000 employees. The company has supported its aggressive growth with a "cloud first" IT approach that has enabled tactical business support and strategic business improvement at an exceptionally low cost compared to traditional IT implementations.
The strategy encompasses a mix of new and legacy applications and services spanning EDI, CRM, ERP, and finance. A key element of the strategy is Tagetik's cloud-based Financial Performance Platform™, which consolidates data from companies across the enterprise and then combines procurement and finance data into cash flow and finance dashboards at the entity, line of business, and company levels. The ability to bring this data together enables insightful reporting and analysis at the operating company level and has resulted in substantial improvements in cost and operating efficiencies across the entire group.
"We decided early on not to insist on an all-cloud portfolio," said Peter Hogan, vice president of enterprise data analytics and applications for Post Holdings. "We first ask 'why not cloud?' and then 'does it make business sense?' and proceed from there. This allows us to build economies of scale from cloud-based capabilities while allowing existing business solutions and their dependent operations to run undisrupted - all while fostering a path to a cloud-first, cost- and management-optimized future."
"The Beacon Awards are given to companies which have applied cloud technology in innovative ways to bring about significant, positive business change," said Bill McNee, founder and CEO of Saugatuck Technology. "Post follows what we call the 'lead, follow, and get out of the way' approach to cloud IT. The result is a minimal corporate IT footprint with optimal influence and management that enables growth while reducing complexity and cost. "
"We applaud Post for taking this innovative cloud strategy that allows IT and finance organizations to quickly incorporate new acquisitions and support strategic business decisions with confidence," said Dave Kasabian, chief marketing officer for Tagetik. "Post exemplifies a 'cloud without compromise' solution - the approach we recommend that gives top priority to meeting business and finance requirements."
To see Saugatuck Technology's Beacon Award announcement, click here.
About Saugatuck Technology Saugatuck Technology, an ISG business, provides subscription research and management consulting services focused on key market trends and disruptive technologies driving change in enterprise business IT. Founded in 1999, Saugatuck is headquartered in Stamford, CT, with presences in greater Boston, Silicon Valley, and Germany. For more information, please visit http://www.saugatucktechnology.com or call +1.203.454.3900.
Tagetik understands the complex challenges that face the Office of Finance and translates that knowledge into intuitive, enterprise-scale performance management software solutions that drive business results. With Tagetik, companies get the simplicity of the Cloud and the power to unify financial and operational planning; shorten the consolidation and close process; immediately analyze results, model and compare full financial statement impact of business scenarios; adjust strategic plans; seamlessly update rolling forecasts; produce formatted and auditable financial statements and management reports; collaborate on business reviews, and automate disclosure and board reporting. Tagetik has built-in financial intelligence so that CFOs, finance managers, and operations executives can orchestrate multiple or all processes in one software solution. More than 750 customers across 35 countries count on Tagetik to improve efficiency, reduce risk, save money and deliver results. For more information, visit http://www.tagetik.com. We get Finance. You get results.
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