Global Growth Spurs Record Breaking Year for Tagetik
STAMFORD, Connecticut and LUCCA, Italy, February 12, 2015 /PRNewswire/ --
Significant growth in 2015 to be driven by innovative and targeted performance management products and expanded investments in Marketing, Sales, and R&D
Tagetik, a visionary leader in global performance management software solutions, today announced its record financial results for 2014, and highlighted its plans for significant growth in 2015 supported by its recent $36 million capital investment by White Bridge Investments S.p.A.. Results for 2014 included:
- 35 percent growth in revenue (13th straight year of double-digit growth)
- 36 percent increase in Tagetik Cloud revenue
- 115 new customers globally
- Strong growth in key verticals including banks, insurance and manufacturing
- Recognized as a global leader in customer satisfaction, product capabilities and technology innovation by major analyst firms
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Tagetik continues to expand its global reach and deliver results for businesses across multiple industries and geographies. Strong performance of Tagetik's prepackaged solution for Solvency II and an increased number of customers using Tagetik Cloud were two of many contributing factors.
Some of the customers Tagetik added in 2014 include: Generali Group, Aggreko, Fiat Chrysler Finance, CNH Industrial Finance, Barilla, GLS, Siemens VAI Metals Technologies, Teka, Whistler Blackcomb Holdings, Webster Bank, Shanghai Volkswagen, ONVZ, Nelnet, Carhartt WIP. A listing of some other additional new customers can be found at this link.
"We will be aggressively investing in 2015 to drive significant growth. We will be nearly doubling our teams in key markets including North America, the UK, and France; and will be increasing our staff by almost 50% globally," said Manuel Vellutini, co-chief executive officer, Tagetik. "With the capital support we received last year, we will drive our global expansion with a strong focus on North America, Tagetik Cloud, and dramatically expanding our vertical market presence in insurance, banking, manufacturing and consumer packaged goods."
Along with strong customer and revenue growth, Tagetik also launched Tagetik 5, the latest version of the company's corporate performance management (CPM) platform, including expanded capabilities and a new intuitive user interface, native mobility, dashboards and in-memory technology. All of these advancements enhance the common user experience, collaboration, and workflow across budgeting, forecasting and planning, consolidation and close, disclosure management and compliance, internal and external reporting, and workflow and process management.
"We're helping CFOs innovate to better drive performance and efficiency, deliver better results and validate business decisions," stated Marco Pierallini, co-chief executive officer, Tagetik. "Through our increased research and development efforts, we have delivered the only CPM solution that offers "The Cloud without Compromise". Tagetik Cloud has the depth of financial intelligence that the Office of Finance needs for advanced planning, consolidation, close, disclosure and analytics with the benefits of the cloud. With the release of Tagetik 5 we have delivered the perfect combination of embedded financial intelligence, specialized packaged applications, innovative technology, and ease of use to the market. 2015 is going to be a great year for Tagetik customers."
About Tagetik
Tagetik is one of the fastest growing performance management software companies with operations in more than 30 countries and more than 700 customers across the globe. Tagetik delivers enterprise solutions with an easy-to-use interface, resulting in the highest level of client satisfaction in the industry.
With deployment options in the cloud or on-premise, Tagetik provides robust functionality for budgeting, planning, forecasting, consolidation, close, reporting, profitability analysis, disclosure management, financial governance, and business intelligence - all from a single, unified platform focused around four core areas: usability, mobility, velocity, and flexibility. By moving to a unified financial solution, Tagetik customers have dramatically increased organizational efficiencies, reduced risk, saved money and improved their companies' bottom lines.
For more information, visit Tagetik.com or follow us on social media:
Twitter: @Tagetik
Media Contacts:
Joanna Hardy, +1-(646)-202-9755
Horn Group for Tagetik
[email protected]
SOURCE Tagetik
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