Austrian Bank BAWAG P.S.K. Adopts Tagetik's Corporate Performance Management Software

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Oct 20, 2015, 10:02 ET

STAMFORD, Connecticut and LUCCA, Italy, October 20, 2015 /PRNewswire/ --

New performance management solution supports executive team with KPI management and analytics reporting

Tagetik Logo (PRNewsFoto/Tagetik)

Tagetik, a visionary leader in global performance management software solutions, announced today that BAWAG P.S.K., one of the largest and most profitable banks in Austria, chose the Tagetik software to build a central hub for key performance indicator (KPI) management and analytics reporting. Now the bank's primary management information platform, the software sets new reporting standards and adds transparency to support executives in managing business performance.

(Logo: http://photos.prnewswire.com/prnh/20150226/732002 )

pmOne, Tagetik's distributor in Germany, Austria and German-speaking Switzerland, integrated the new solution with its business intelligence tool, cMORE. Management accountants at BAWAG P.S.K. can now build and administer reports that fulfill their complete design requirements completely on their own.

"pmOne understood our needs for self-service business intelligence and helped us implement them quickly," said Andreas H. Haider, leader of the Tagetik project team at BAWAG P.S.K. "The Tagetik software meets our current needs and is the ideal software platform to further address future demands in planning and banking-specific corporate performance management (CPM) processes in parallel."

Five of the ten biggest banks in Austria now use Tagetik's CPM software. In addition to BAWAG P.S.K., Erste Group, Raiffeisen Bank International, VB Wien Baden (formerly ÖVAG) and Bank Austria of the Unicredit Group are also Tagetik customers. "Companies in the financial services industry face very strict regulations and appreciate the rich, built-in functionality that Tagetik offers," said Oliver Vermeer, managing director of pmOne GmbH. "This software really unifies and harmonizes complex business processes and incorporates specific industry requirements - all within a single application."

"Tagetik takes great pride in being selected by companies such as BAWAG P.S.K. as the best solution for managing their finance processes," said Manuel Vellutini, Tagetik co-CEO. "Tagetik's emphasis on serving progressive CFOs leverages our strong expertise and proven success in addressing the complex processes of finance organizations. This means constantly listening to our clients and constantly innovating to meet their changing business needs. This passion is at the core of our long-term customer relationships and our strong worldwide partnership network."

About BAWAG P.S.K.

BAWAG P.S.K. is one of Austria's largest banking institutions with 1.6 million customers and a well-recognized national brand. The Bank focuses on three business segments: Retail Banking and Small Business offers simple, fair and transparent products and services which include lending, savings, payment, card, investment and insurance services for private and small business customers. These products and services are available through our branches all over Austria which are complemented by our digital sales channels. Austrian corporate businesses as well as international activities are managed within the Corporate Lending and Investments segment. The majority of the Bank's lending activities are within Austria. The international business is focused on corporate, commercial real estate and portfolio financing transactions primarily in Western Europe and the United States of America. Treasury Services and Markets includes all activities associated with providing trading and investment services for the Group's treasury activities and the management of the Bank's portfolio of financial securities. Owners of the Bank are Cerberus Capital Management LP (52%) and GoldenTree Asset Management LP (40%).

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 750 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