STAMFORD, Connecticut and LUCCA, Italy, July 30, 2015 /PRNewswire/ --
Tagetik Receives Excellent rating in Pillar 2 Pillar 3 and General Capabilities
The research evaluates solutions coverage of the IT capabilities needed for the three Pillars of Solvency II. It also provides an update of the Solvency II software market since 2013 targeting CIOs and IT managers tasked with solution selection for the EIOPA (European Insurance and Occupational Pensions Authority) regulatory compliance coming into effect as of 1 January 2016.
"I believe our best-in-class, pre-packaged solution for Solvency II proves to be cost effective and timely to implement than other comparable applications in the market," said Sabrina Rosati, executive vice president and managing director Italy global practice leader - financial services, Tagetik. "As a best practice, this compliance imperative should not be addressed in isolation but rather be an integral part of an insurance's overall financial reporting and disclosure processes. And, as the deadline approaches our combination of strong capabilities and ease of implementation will continue to be a differentiator in the market."
Tagetik's pre-packaged solution for Solvency II has been selected by over 100 insurers in 11 European markets. The solution addresses all aspects of Solvency II, but primarily covers Pillars 2 and 3. It supports standard formulas and the generation of QRT on business entity and group levels, FSCR, RSR and ORSA as well as some country-specific formats and the XBRL taxonomy of EIOPA.
Last June, more than 60 insurance and reinsurance firms, including some of the most important players in Europe, were able to respect the first EIOPA's deadline: the Interim Measures using Tagetik's solution for Solvency II.
About the Market Guide for Solvency II Solutions
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
 Gartner, 2015 Market Guide for Solvency II Solutions by Juergen Weiss. 17 July 2015.
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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Tagetik Press Team