LUCCA, Italy, January 24, 2014 /PRNewswire/ --
Software vendor continues to increase its momentum in the Corporate Performance Management (CPM) market
Tagetik, a global provider of enterprise software solutions for Performance Management, Disclosure Management, Financial Governance and Business Intelligence, today announced record financial results for 2013, including:
- 25% growth in revenue, the 12 th straight year of double-digit growth;
- 37% growth in recurring revenue;
- Over 100 new customers.
"This outstanding performance is due to high demand for Tagetik's unified Financial Performance Platform (FPP) and increased adoption of Tagetik Cloud," says Pierluigi Pierallini - President and CEO at Tagetik. "Our next generation solutions for the Office of Finance - either on-premises or in the cloud - have been selected for deployment by mid-to-large organizations, including Global 500 corporations, across over 40 countries and all industry sectors, demonstrating our ability to support the financial and strategic needs of companies worldwide."Among new customers using all or part of Tagetik's performance management solution are: 3V SIGMA and Swarco for statutory consolidation; Banka Sparkasse for consolidation, planning, budgeting, CDM, FINREP and COREP; BXR Group, Cape, Eferton Group and Sekerbank for consolidation and CDM; Ferrovial for IT Performance Management; Mirvac for CDM and financial closing, Italtel for budgeting, cash flow, statutory consolidation and financial reporting; Leukemia & Lymphoma Society, Onsite Rentals and Randstad France for budgeting and planning; Loacker for statutory consolidation and management reporting; Sirti for consolidation, cash flow planning and operational control; The Gorman Rupp Company for financial consolidation, reporting and CDM; Koninklijke Reesink for CDM; Agrial for budgeting and reporting, Calzedonia for cash flow planning. "Tagetik has strengthened its presence and revenue in key markets such as North America, UK, France and the DACH area and is extending operations in Russia, Poland, Ukraine, Malta and Brazil, further expanding its global reach to 30 geographies," adds Manuel Vellutini - EVP, Chief Operating Officer at Tagetik. "Moreover, we continue to be ranked as leader in industry analysts' research for our product vision and outstanding customer satisfaction. We are very proud of the results from this past year and are very well positioned to capitalize on our momentum going into 2014." "2013 also saw the introduction of key product development initiatives and innovations following the increasing adoption of cloud and in-memory technology," continues Marco Pierallini - EVP, Chief Development Officer at Tagetik. "This includes:
- Tagetik Cloud which delivers full feature-rich functionality that improves business processes with the advantages and flexibility of a unified, cloud-based Financial Performance Platform;
- Tagetik's direct integration with the SAP HANA® in-memory platform based on an original equipment manufacturer (OEM) agreement with SAP AG (NYSE: SAP)."