Tagetik Announces Record First Quarter 2016 Driven by Cloud Growth

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Jun 01, 2016, 09:02 ET

STAMFORD, Connecticut and LUCCA, Italy, June 1, 2016 /PRNewswire/ --

North American Sales Set Record Revenues With 75% Growth in Q1, 2016 (Year Over Year); Company Also Records 56th Consecutive Quarter of Profitable Growth

Tagetik Logo (PRNewsFoto/Tagetik)

Tagetik, a visionary leader in global performance management software solutions, announced a record first quarter for 2016 including a triple-digit increase in cloud-based annual recurring revenue with more than 50% of new customers choosing Tagetik's cloud-based solutions. Representative new customers include Nature's Way, Tom Ford International, Damiani, Valeant Canada, National General Insurance Company and Galileo Global Education.

(Logo: http://photos.prnewswire.com/prnh/20140625/694014 )

The first quarter of 2016 also set revenue records for the Tagetik's North American operations driven by investments in 2015, which included the expansion of its Stamford, CT, North American headquarters and a doubling of North American staff. Last month, for the first time in its history, the company held its annual global user conference in North America (New Orleans, April 24-26), which drew 200 attendees from 60 companies and 11 partner firms. North American revenues grew 75% from Q1 2015 to Q1 2016.

"We're very pleased with these results," said Manuel Vellutini, co-CEO of Tagetik. "The groundwork laid last year is paying dividends in expanding our market presence while simultaneously building a sound, global ecosystem to support our growth. We are proud that we remain profitable and continue to maintain our market-leading customer satisfaction ratings."

Tagetik's Financial Performance Platform^[^TM^] enables organizations to unify financial and operational planning, financial and management reporting, cost allocation and profitability analysis, and regulatory and disclosure reporting in a single solution. The company also has a highly successful track-record helping companies meet the complex regulatory requirements of global businesses. For instance, Tagetik's highly rated Solvency II solution, built to address regulatory reporting requirements for insurance companies, has been adopted by 265 companies in just over 18 months.

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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SOURCE Tagetik