Acceleration of Cloud Sales and Global Expansion Contribute to Tagetik's 14th Consecutive Year of Profitability

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.
• 14^th 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.

 

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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."