Vestey Group Selects Tagetik 3.0 to Simplify the Complexity of Consolidation and Reporting

The Group Replaced Their Existing Consolidation and Reporting System

LONDON, February 1 - Tagetik, a global provider of Performance Management (PM) and
Financial Governance software solutions, today announced that the Vestey
Group Ltd. has selected Tagetik 3.0 to simplify the complexity of their
enterprise consolidation and reporting processes (
www.tagetik.com/software/budgeting-planning-consolidation/financial-consolidation-reporting).
The family-owned and operated group consists of
thirty different companies which specialise in importing and storing
foodstuffs from global suppliers and distributing them into various markets
throughout the world.

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The group's core business comprises food trading and food
service interests in Europe, the Middle East and Asia as well as significant
cattle and farming interests in Brazil and Venezuela. In light of the
different accounting principles and legal structures in these regions,
managing increasingly enhanced management and KPI reporting along with the
statutory reporting requirements grew increasingly complex. The group,
therefore, saw the need to switch to a reporting application that could unify
all of its statutory and management reporting requirements.

"As the Vestey Group continued to grow, our reporting needs
did as well," explained Neil Thornton, group financial controller at the
Vestey Group. "That's why we decided to replace our existing Infor FDC
reporting system with one that could integrate all of our reporting
requirements and seamlessly include other aspects of Performance Management.
After having evaluated all of the big vendors, we selected Tagetik. In
addition to the company's strong customer commitment and the software's rich
functionality for consolidation, we were pleased that we can easily extend
the software to support other processes, such as budgeting and cash flow
planning, at a later time."

"Due to the varying skill levels throughout the enterprise,
Vestey required a highly intuitive solution that was powerful enough to
manage the complex currency and intercompany requirements of a multinational
organization," added Shak Akhtar, managing director at Tagetik UK & Ireland.
"Through its unified approach to budgeting, planning, consolidation and
reporting as well as its built-in support for XBRL filings, Tagetik 3.0
provides an ideal platform for implementing a comprehensive, scalable
Performance Management application. The Tagetik team will also play a key
role in supporting the rollout of Tagetik 3.0 into the far-reaching parts of
Vestey's global organisation."

"We are very proud to close this highly successful fiscal year
by welcoming another global customer to the Tagetik family," concluded Manuel
Vellutini, Chief Operating Officer at Tagetik. "In spite of the challenging
global economy, Tagetik 3.0 has already simplified the complexity of
financial management and reporting for more than 30 companies in 2009."

About Tagetik

Tagetik delivers a unified software solution to support Performance
Management and Financial Governance 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

    Contact:
    Elisabetta Pierallini
    +39-0583-96811
    press@tagetik.com 

    and

    Shak Akhtar,
    +44(0)8708-510540
    shakakhtar@tagetik.com

Contact: Elisabetta Pierallini, +39-0583-96811, press at tagetik.com and Shak Akhtar, +44(0)8708-
510540, shakakhtar at tagetik.com