STAMFORD, Connecticut and LUCCA, Italy, June 23, 2015 /PRNewswire/ --
Investment expands global footprint with trusted partner to continue company's international growth strategy in the Benelux region
Tagetik, a visionary leader in global performance management software solutions, today announced that it has acquired iNovasion, the company's former distributor in the Netherlands. Under the name Tagetik Benelux BV, the new entity will support Tagetik's global expansion efforts driving continued growth in the region.
iNovasion has been a valued Tagetik distributor for more than five years, delivering one of the strongest track records of any of Tagetik's distributors with a compound annual growth rate (CAGR) of 40 percent over the last four years. The company has supported the corporate performance management (CPM) needs of multiple customers, including Rabobank, Randstad, Grontmij, PLUS Group, Aegon, Generali Verzekeringsgroep, Ziggo and GLS.
"Acquiring iNovasion makes sound, strategic sense for Tagetik," said Marco Pierallini, co-CEO, Tagetik. "The company was founded by experts in corporate performance management, who have been leveraging their deep industry knowledge and market expertise to drive expansion in the Benelux region. With their support, we will continue to be recognized for our expertise in providing the best solutions for the Office of the CFO."
iNovasion aligns its experts and solutions to deliver effective corporate performance management and business intelligence solutions with a lower total cost of ownership. Marco van der Kooij, who will serve as managing director for Tagetik Benelux stated, "Tagetik is making this investment to elevate its presence in the market and to continue taking advantage of growth opportunities that our experts will deliver."
Tagetik Benelux will provide direct sales and support services across a three-country region that comprises Luxembourg, Belgium and the Netherlands. Its current office in Arnhem, the Netherlands, will serve as the primary location for the Benelux region. Tagetik also plans to expand its team and will soon open an additional office in Belgium.
"Tagetik is exceeding the needs of CFOs by improving performance, reducing risk, providing greater efficiency and delivering better business results," continued Manuel Vellutini, co-CEO, Tagetik. "Marco and his strong team have been excellent partners in delivering results in the Netherlands and we look forward to deepening relationships with our existing customers as well as increasing our sales and marketing investments in the Benelux region further to expand our customer base. Current and future customers will also benefit from increased support services."
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.
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Taylor Szabo +1-646-202-9783
Horn Group for Tagetik