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).

For more information visit http://www.tagetik.com