Coolinvestments Selects Tagetik for Consolidation and Reporting

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Jul 02, 2015, 08:30 ET

HOUTEN, The Netherlands and LUCCA, Italy, July 2, 2015 /PRNewswire/ --

- Dutch fashion retail, wholesale and real estate investment group empowers the Office of Finance with leading Corporate Performance Management solution

Tagetik Logo (PRNewsFoto/Tagetik)

Tagetik, a visionary leader in global performance management software solutions, today announced that Coolinvestments has selected Tagetik 5 to manage its consolidation and reporting processes within a single, unified solution. The software will replace the company's existing consolidation and reporting systems. The first phase of the project will include implementation of Tagetik's consolidation and collaborative disclosure management solution.

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

The company's current group reporting and consolidation process is partially supported by Hyperion Enterprise and Microsoft Excel, which is not efficient and prone to errors. It also requires a lot of manual data entry. In addition, the current implementation does not provide the robust IT solution required to facilitate the company's growth ambitions. The new consolidation and reporting tool will manage current monthly and annual financial consolidation, including non-financial KPIs and related reporting.

"Coolinvestments conducted a comprehensive selection process to secure a software provider that could perfectly meet all of the company's requirements, show a realistic project approach and include experts to support the implementation," said Marco van der Kooij, managing director, Tagetik Benelux. "Tagetik outperformed the competition by leveraging rich, 'built-in' functionality to support a global consolidation and reporting process, as well as a strong commitment to go for the extra mile to make the project a success."

"Coolinvestments is making a wise investment in its future by implementing Tagetik 5 to manage its consolidation and reporting functions across the company," stated Manuel Vellutini, co-CEO, Tagetik. "The solution will provide the company with the ability to make more informed business decisions by having access to accurate data and reports in a fraction of the time of its previous solution with the ability to expand to meet their growing needs."

About Coolinvestments

Coolinvestments is a family owned Group with several fashion retail and wholesale formats, real estate portfolios and (in)direct investments. The Group originated from the CoolCat retail format which was established by Roland Kahn in 1979. Coolinvestments consists of approximately 70 legal entities in seven countries. The yearly revenue of Coolinvestments as a group is approximately EUR 500 million.

The Retail part of the Group, sometimes referred to as 'Excellent Retail Brands', includes the fashion formats CoolCat, MS Mode and America Today and is primarily active in the Benelux, France, Germany and Spain. The Group is highly successful and operates more than 600 own shops. The Wholesale activities consist of lingerie brand Sapph and the Hong Kong based company Online Design with a wide spread international client base consisting of established large retail chains.

To learn more: http://www.coolinvestments.nl/

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.

Media Contacts:
Taylor Szabo
+1-646-202-9783
Horn Group for Tagetik
[email protected]

SOURCE Tagetik