LUCCA, Italy and LONDON, November 2 /PRNewswire/ -- Tagetik, a global provider of Performance Management and Financial Governance software solutions, today announced that Dr. August Oetker KG has selected Tagetik 3.0 Business Simplexity, to create its consolidated financial statements. The Web-based solution, which will replace its existing SAP system, will simplify the consolidation process for 200 users around the world.

During an evaluation process conducted with the consulting experts from Alper Schetter Consulting, the project team chose Tagetik 3.0 on account of its functionality, support and price-performance ratio. The rich capabilities at a reasonable price were just as important to us as the advantages of a Web-based solution for our global users, explained Dr. Manfred Jutz, Director of Accounting at Dr. August Oetker KG.

With annual revenues of EUR 9.2 billion, Dr. August Oetker KG is a leading, global, family-owned company, added Hannes Wambach, who is responsible for developing Tagetik's business in Central Europe. The fact that Dr. August Oetker KG chose Tagetik 3.0 shows how this innovative solution can master complex consolidation requirements. Tagetik 3.0 adapts to the needs of users as well as the changing business demands and processes. This flexibility is essential in today's dynamic business environments.

Companies today need a reliable software vendor like Tagetik that is completely focused on Performance Management and Financial Governance processes and constantly integrates its customer feedback into the software, concluded Manuel Vellutini, Chief Operating Officer at Tagetik. We are very pleased to welcome another new customer that has chosen Tagetik to simplify the complexity of preparing consolidated financial statements in a diversified group.

About Tagetik

Tagetik is a global software vendor of the first unified Performance Management Financial Governance solution to help CFOs and CIOs simplify complex business processes.

A complete financial closed-loop software, Tagetik 3.0 unifies key processes and applications - such as budgeting forecasting, cash flow planning, working capital analysis, financial consolidation, financial governance, strategy management, profitability modeling, financial statement reporting - to manage and control overall performance, support compliance initiatives, harmonize different views of critical financial data, enable maximum visibility down to business transactions. In this way, the CFO can support the CEO in monitoring the implementation of strategies, ensure their sustainability and control corporate performance.

Since the software leverages built-in processes and cross-platform technology - fully web-based and integrated with any ERP, our customers can profit by up to 50% reduction of the total cost of ownership (TCO).

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SOURCE: Tagetik Software SRL

CONTACT: Contact: Debora Orrico di Russo, +39-348-5635975,