Tagetik : a "unified" Performance Management Suite
Tagetik is a Corporate Performance Management-solution for Legal and Management Consolidation, Financial Close, Forecasting, Budgeting and Disclosure Management.
Tagetik was founded in 1986 in Tuscany, Italy by Pierluigi Pierallini. In the beginning Tagetik was organized as a family business, but with a combination of home grown talent and international executives Tagetik was transformed to a global scale business. However, client-centricity always remained the most important company value.
The name Tagetik originates from the Etruscan "Libri Tagetici”. In these stories a legendary boy named "Tagete” appeared, with the knowledge and wisdom of an old man. Other inspiration came from the word "get”, for the retrieval of information.
The vision of Tagetik is paraphrased by "Business Simplexity”.
This is an emerging theory which suggests that complexity and simplicity are complementary. This is reflected in the fact that all Consolidation, Financial Close, Budgeting, Forecasting and Disclosure-products are grouped into one major product. The complexity is captured behind the scenes, so end-users experience Tagetik as being user-friendly.
Tagetik had a history of gradual improvements through the following releases:
- Tagetik 3.0 was released in 2009, designed to help CFO’s and CIO’s simplify the complex business processes of Legal and Management Consolidation, Financial Close, Forecasting, Budgeting and Disclosure Management. Thanks to the cross-platform design of Tagetik, the existing technology can be leveraged through all processes. Hence, the total "cost of ownership" can be reduced to up to 50%.
- Tagetik 4.2 was released in 2012 with for the first time a fully redesigned user interface with process-centric navigation. The workflow-manager was made more comprehensive across multiple finance processes.
- Tagetik 5 was released at the end of 2014. HTML5 became incorporated in Tagetik, so for the first time Tagetik is accessible through mobile devices (this is called Tagetik Anywhere). Users can create their own homepages to match their usage of Tagetik (reports, entry forms, commonly used tasks, ...). Reports can be viewed over Excel or over the Web. There is also a new Self-service Dashboard capability. Here, all users can visualize their key trends and indicators. Tagetik can now also run on in-memory technology of Oracle, Microsoft SQL Server or SAP Hana.
In the past 10 years, Tagetik convinced more and more customers. With over 35 locations and 750 satisfied CPM customers worldwide, they are becoming one of the major Corporate Performance Management-suppliers.
Thanks to the scalability, Tagetik can be implemented in organizations of all sizes. In 2015, Gartner positioned Tagetik as visionary in its Magic Quadrant, already for the 6th year in a row. This report evaluates software vendors on their completeness of vision and ability to execute. This is a sign of the commitment to innovation from Tagetik.
Following features are included in both Tagetik 4 and Tagetik 5:
- Extensive drill down and drill through capability on reports
- All procedures are monitored through the web "cockpit” application
- Fully Integrated with Microsoft Excel
- Full Extract-Transform-Load -functionality
- Extended dimension-capability for Business Intelligence Reporting
- Seamless Microsoft SQL Server Integration
- Cloud-solution available
element61 has expertise and certifications for Tagetik, don’t hesitate to contact us for more information.