Tagetik Announces Profitable Quarter; Recent Expansion Investments Paying Off With Record Revenues and Major Client Wins

Jul 26, 2016, 10:02 ET from Tagetik

STAMFORD, Connecticut and LUCCA, Italy, July 26, 2016 /PRNewswire/ --

Second Quarter Sees Continued Cloud Expansion and Revenue Growth In North America, DACH, and Asia-Pacific Regions  

Tagetik, a visionary leader in global performance management software solutions, announced today a profitable second quarter for 2016 and the addition of 40 new corporate customers. The quarter also saw continued revenue growth in North America and record revenues for two new Tagetik operations in the DACH and Asia-Pacific regions.

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Serving Germany, Austria, and Switzerland, Tagetik GmbH led revenues for Tagetik's regional operations. Among its second quarter wins were an expanded enterprise agreement with a major German multi-national automotive corporation and a new customer agreement with a major multi-national provider of products and systems to the construction and energy industries. Tagetik's Asia-Pacific operation doubled its revenues for the first half of 2016 compared to those from the same period in 2015 and signed an agreement with its first Japanese corporate customer, a provider of consulting and facility management services for customers throughout Asia-Pacific.

Other representative new customers include Eni Gas & Power Belgium, Kelvion, Mundipharma, Qingdao Hisense Electronics, Keystone Industries, and MP Biomedicals.

"We're very pleased with second quarter results. Our cloud business continues to grow and investments in North America and other regions are paying off with increased revenue and market share," said Manuel Vellutini, Tagetik co-CEO. "Additionally, the recent Brexit vote is generating heightened interest in our solution's ability to support sophisticated planning and forecasting.  Our sustained profitability allows us to make the ongoing research and development investments needed to stay ahead of volatile market conditions and the needs of our customers."

Tagetik's Financial Performance Platform[TM] enables organizations to unify financial and operational planning, financial and management reporting, cost allocation and profitability analysis, and regulatory and disclosure reporting in a single solution.  Tagetik was positioned in the visionaries quadrant of Gartner's 2016 Magic Quadrant for Financial Corporate Performance Management Solutions[1] and 2016 Magic Quadrant for Strategic Corporate Performance Management Solutions[2] .

For more information, visit http://www.tagetik.com.  

About the Magic Quadrants 
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.

[1] Gartner, Magic Quadrant for Financial Corporate Performance Management Solutions, Christopher Iervolino,and John E. Van Decker, 31 May 2016

[2] Gartner, Magic Quadrant for Strategic Corporate Performance Management Solutions, Christopher Iervolino and John E. Van Decker, 31 May 2016.

About Tagetik 

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 850 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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SOURCE Tagetik