Press Release Summary:
Adding structure to manual disclosure process, Tagetik v3.0 - Collaborative Disclosure Management facilitates teamwork across multiple systems and stakeholders while integrating financial information with personal insight. Functionality lets companies integrate information from structured ERP, CRM, and CPM systems or data warehouses as well as unstructured spreadsheets, e-mails, and IM applications. Finalized data can then be leveraged in various reports, releases, and filings.
Original Press Release:
Tagetik Launches 'Tagetik 3.0 - Collaborative Disclosure Management' at Annual User Conference
- Only Solution on the Market to Improve Teamwork and Reduce Manual Tasks During Corporate Disclosures
Tagetik, a global provider of enterprise software solutions for Performance Management, Governance, Risk & Compliance and Business Intelligence, today announced the release of Tagetik 3.0 - Collaborative Disclosure Management at its 2010 User Conference. This solution adds structure to the highly manual disclosure process by facilitating the teamwork across multiple systems and stakeholders as well as integrating financial information with personal insight. Companies can either use the software as part of Tagetik's unified performance management platform or standalone on top of existing ERP and consolidation systems.
"Closing the books has never been a fast or simple process but, in the past few years, the work involved with creating statutory filings and fulfilling external and internal reporting requirements has jumped dramatically," explains Manuel Vellutini, Chief Operating Officer at Tagetik. "Instead of a handful of people in finance, you now also have stakeholders from investor relations, sales, legal and other departments working together to produce a single document. If the systems supporting these processes aren't connected, a huge gap emerges between the knowledge of the individuals involved and the data itself which, in turn, delays progress and increases the risk of errors. That's why we have developed Tagetik 3.0 - Collaborative Disclosure Management to structure the process of collecting financial data, integrating background information and personal notes, producing the respective documents and, if desired, even publishing them as XBRL files. No other solution on the market today offers this functionality in a unified system with built-in workflows, powerful controls and full traceability for each filing or report."
"Despite the vast CPM investments in recent years, most companies still have highly manual and fragmented disclosure processes," states Marco Pierallini, Chief Development Officer at Tagetik. "By automating tasks, adding controls and improving collaboration, companies can finally reduce the amount of error-prone, manual work to close the books faster and release timely, accurate information to a wide range of audiences."
Using Tagetik 3.0's Collaborative Disclosure Management module, companies can integrate information from structured ERP, CRM and CPM systems or data warehouses as well as unstructured spreadsheets, e-mails and instant messaging applications. And due to Tagetik's unified CPM and GRC software platform, users can then leverage the finalized data in management reports, press releases, CSR reports, notes and exhibits in statutory filings, or even SEC filings with full XBRL support.
"Our goal was to make public disclosure and management reporting processes more efficient and interactive while eliminating hidden costs for a measurable TCO - and we have accomplished just that with Tagetik 3.0 - Collaborative Disclosure Management," summarizes Manuel Vellutini.
Tagetik - a Microsoft Gold Certified Partner - delivers a unified software solution to support Performance Management and Enterprise Governance, Risk & Compliance, plus extended Business Intelligence, Collaboration and Communication. Tagetik 3.0 creates value by simplifying complex business processes for CFOs and CIOs: budgeting, planning and forecasting, consolidation and reporting, financial governance, strategy management, profitability modeling, working capital analysis and compliance/industry requirements. Tagetik 3.0 is the solution to translate strategy into operations, manage and control overall performance down to business transactions, and improve decision-making across the whole organization while achieving faster ROI and lower total cost of ownership (TCO).
Tagetik operates in 13 countries leveraging a close partnership with Microsoft. Its market experts are totally committed to the success of 400 worldwide customers, including some of the largest Fortune 1000 companies and representing all industries, as well as to foster synergies with system integrators, technology leaders and local consulting specialists. To learn more: www.tagetik.com