STAMFORD, Connecticut and
LUCCA, Italy, February 11, 2016 /PRNewswire/ --
172% increase in
annual recurring revenue from cloud subscriptions
highlights strong 2015 performance
Tagetik, a visionary leader in global performance management
software solutions, today announced its record financial results
for 2015. Highlights of 2015 include:
- 22 percent growth in consolidated revenue.
- 14th consecutive year of profitability.
- 172 percent increase in annual recurring cloud revenue.
- 147 new customers from around the world. Tagetik now
serves more than 850 total customers globally.
- New direct operations and offices in Japan, Singapore, Belgium, and Canada.
- Acquisition of Dutch distributor iNovasion, which established
Tagetik Benelux BV.
- Doubling of North American staff and expansion of North
American headquarters.
- Strong vertical industry adoption, including the acquisition of
32 new insurance companies. Currently, 265 insurance companies are
using Tagetik's Solvency II solution.
- Recognized again by industry analysts as global leader in
customer satisfaction, product capabilities, technology innovation,
and vertical solutions.
(Logo:
http://photos.prnewswire.com/prnh/20140625/694014 )
New customers added in 2015 include: Carbonite, Nature's Way,
The Rockefeller Foundation, Repsol, TeamViewer, Dolce &
Gabbana, China Life Insurance, Severn Trent, PosteVita,
Liu Jo and many others from around
the world.
"During 2015, we made significant investments to further expand
our global reach, as well as developing specialized solutions for
financial services, consumer goods, retail, manufacturing, and
insurance. These investments, combined with the continued
recognition we receive from industry experts and analysts for
product excellence, have firmly established Tagetik as a leader in
the competitive corporate performance management (CPM) market,"
said Manuel Vellutini, Tagetik co-CEO.
"In the coming year, we'll continue our commitment to support
the dual role for progressive CFOs - that of being a strategic
business partner while also meeting complex and demanding
regulatory requirements. And, we'll continue to do so from a
single financial performance platform that provides CFOs with
better visibility, reduced risk and increased confidence."
"We attribute our cloud success to our ability to deliver what
we call 'the cloud without compromise'," said Marco Pierallini,
Tagetik co-CEO. "We offer what we believe is the market's
most robust and complete CPM solution on the cloud. This
perspective is supported by consistently high capability and
satisfaction ratings in analyst surveys."
According to Pierallini, Tagetik's product roadmap for 2016
includes:
- Enhanced cloud-to-cloud and cloud-to-on-premise integration to
expand our support for the hybrid cloud environments operated by
many businesses.
- Personalized home page and improved user experience for easier
navigation, ad-hoc analysis and simple visualization.
- Packaged solutions for regulatory reporting including
International Financial Reporting Standards (IFRS) 4, 9, and
15.
- Governed financial analytics and visualization with Tagetik
Analytics, Qlik Sense, or Microsoft PowerBI.
- Mobility enhancements and a new Apple Watch app.
"Our customers include some of the most innovative and
progressive CFOs in business," said Vellutini. "We very much
look forward to partnering with these leaders to continue our track
record of targeted innovation designed with the CFO in mind."
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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Media Contacts:
Linda Galloway
insidHR Communications
+1-303-863-8620 office
+1-203-733-7446 mobile
lgalloway@insidhr.com