The software, which is distributed by iNovasion in The Netherlands, replaces the Rabobank's existing consolidation and inter-company matching solution. The second phase will include the implementation of Tagetik's Collaborative Disclosure Management application.

"Rabobank held an extensive business process redesign and solution selection phase. Business users and the IT team came to the joint conclusion that the Tagetik solution fits Rabobank's requirements the best," says René Witlox, Head Business Development & Support at Rabobank. "This gives us confidence that the project will run smoothly for all the different Rabobank stakeholders with the help of the Tagetik team."

"Rabobank Group conducted a comprehensive selection process to select a software provider that could perfectly meet all their requirements, show a realistic project approach and involve excellent people to work with," adds Marco van der Kooij, General Manager at Tagetik The Netherlands. "Tagetik outperformed the competition leveraging rich, 'built-in' functionality to support a global consolidation and reporting process as well as strong commitment from the management team to go for the extra mile and make this project a great success."

"With Rabobank, Tagetik continues to strengthen its position as a global provider of solutions for financial institutions," explains Sabrina Rosati - EVP, Professional Services at Tagetik (http://www.tagetik.com/about/management/sabrina-rosati). "We are a new breed of CPM provider and leverage a clearly differentiated approach to meeting the more exacting needs of major multinationals across business industries and specifically in the banking sector. This includes deep domain experience and specific solutions designed to meet the complex financial consolidation requirements of financial services organizations in a single, unified solution."

Rabobank Group's subsidiary in the United States, 'Rabobank, N.A.' (http://www.rabobankamerica.com) - which provides full service banking through its network of 120 branches and 15 financial centers - also has recently implemented Tagetik software (replacing its legacy SRC software solution) to manage consolidation of actuals, budgeting, forecasting, driver-based planning down to the branch level and automate reporting processes leveraging full integration with Microsoft SharePoint.