STAMFORD, Conn., Jan. 29 /PRNewswire/ -- Tagetik, a global provider of Corporate Performance Management (CPM) and Financial Governance software solutions, today announced that it has been positioned in the 2009 "Magic Quadrant for Corporate Performance Management [CPM] Suites," . This annual report published by Gartner, Inc. evaluates software vendors on their completeness of vision and ability to execute. Gartner defines Corporate Performance Management (CPM) in the 2009 "Magic Quadrant for CPM Suites,"  as including "the processes used to manage corporate performance, such as strategy formulation, budgeting and forecasting; the methodologies that support these processes, including the balanced scorecard, or value-based management; and the metrics used to measure performance against strategic and operational performance goals. CPM also comprises a series of analytic applications, such as BP&F, financial-consolidation, and financial-reporting solutions, which provide the functionality to support these processes, methodologies and metrics, targeted at the CFO, finance team, senior executives and corporate-level decision makers."
"We believe Tagetik's positioning in the Magic Quadrant as a Visionary is result of a high percentage of new global customers and it confirms that we have really simplified the complexity of many companies all around the world," explains Manuel Vellutini, COO of Tagetik. "During the last 3 years we raised at a faster than average rate in the CPM suites market, and we have expanded globally by growing our direct channel and distributor network in Europe and the U.S., this year we have launched Tagetik 3.0 providing enhanced features in all areas of CPM functionality, with full XBRL support and scorecarding capability and we also added a number of features for financial governance, all this news represents a real innovation for the market."
"In order to better meet companies needs", concludes Vellutini, "our road map incorporated a broader view of BI and PM by extending beyond traditional CPM boundaries with additional process workflows to build custom analytic processes, vertical templates, and leverage of the Microsoft stack by the integration with Microsoft SharePoint Server 2007. Despite the achievements we will not stop investing in R&D, in people and innovation."
According to the Gartner report, the market for CPM suites continues to experience strong momentum, growing nearly 28% during 2008. This is partly explained by an internal change in the way that Gartner analyzes the CPM market. In previous years, Gartner identified the market as a composite of embedded CPM functionality in ERP and BI products, as well as stand-alone CPM suites. This year, Gartner based market sizing only on stand-alone CPM suites. Figures for the previous year were, therefore, revised to account for this change in methodology, which concluded that the overall size of the market is now $1.867 billion, worldwide.
Read the "Magic Quadrant for Corporate Performance Management [CPM] Suites" here:
 About the Magic Quadrant
The Magic Quadrant is copyrighted 2010 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Tagetik delivers a unified software solution to support Performance Management and Financial Governance plus extended Business Intelligence, Collaboration and Communication. Tagetik 3.0 creates value by simplifying complex business processes for CFOs and CIOs: budgeting, planning and forecasting, consolidation and reporting, financial governance, strategy management, profitability modeling, working capital analysis and compliance/industry requirements. Tagetik 3.0 is the solution to translate strategy into operations, manage and control overall performance down to business transactions, and improve decision-making across the whole organization while achieving faster ROI and lower total cost of ownership (TCO).
Tagetik operates in 13 countries leveraging a close partnership with Microsoft. Its market experts are totally committed to the success of 400 worldwide customers, including some of the largest Fortune 1000 companies and representing all industries, as well as to foster synergies with system integrators, technology leaders and local consulting specialists. To learn more: www.tagetik.com