Wednesday, September 19, 2018Canada's Leading Online Business Magazine

Clarity Systems

Tech_Spotlight_978986449
Tech Spotlight

Focusing on two product lines, Clarity Systems is a technological provider of Corporate Performance Management (CPM) software that assists companies with budgeting, forecasting, planning, financial consolidation, financial reporting, profitability analysis and modeling. This solutions suite, known as CLARITY 7, is sold to large- and mid-market global organizations to automate CPM processes. Clarity’s second product line is “a unified financial governance suite” called CLARITY FSR, which helps companies automate their external reporting process.

“If you are a public company, and you file with the SEC, then you need to produce a 10-K annually and a 10-Q each quarter. Furthermore, each jurisdiction has its own regulatory framework and statutory reporting requirements that frequently demand external reporting beyond the quarterly and annual reports.  CLARITY FSR helps companies automate these external reporting processes, regardless of the jurisdiction,” said Mark Nashman, President of Clarity Systems. “Our software helps companies improve the efficiency of and reduce the risk associated with those processes.”

CLARITY 7 and CLARITY FSR

CLARITY 7 is a web-based application that provides an Excel-like look and feel for its users. As a single unified solution, CLARITY 7 customers can initially deploy any CPM application, such as annual budgeting, and later deploy additional CPM applications, like mid-year forecasting, profitability modeling, or financial consolidation—without having to purchase additional software. As a result CLARITY 7 delivers a very high return on investment.

In addition to automating the external reporting process (with industry leading XBRL capabilities), CLARITY FSR can also be used to automate the account reconciliation process—to help reconcile period-end balances to the underlying source systems—as well as help companies with their tax preparation processes.
Those two vast product lines are supported by the company’s professional service team which helps companies implement the software and maximize the value of these solutions. Clarity deploys solutions to the Office of Finance across all industries, from financial services, retail, manufacturing, to healthcare and beyond.

Unique recessionary growth

Unlike most companies, Clarity Systems saw impressive growth during the recession, from 30 to 40 per cent per year. Clarity plans to continue this rapid growth into the future, partly because Clarity has a recession-proof product. Whether the times are going well, or not so well, people are always planning and forecasting for their future. Regulatory bodies will continue to require public companies to provide financial reports on a quarterly and annual basis.

“We have seen very rapid growth and that is due to the strength of our products and our ability to easily articulate our value proposition to our customers and meet their needs effectively,” said Nashman. “The amount of research and development that goes into developing these products, both from a technical and business process design perspective is immense, and our rapidly growing customer base is testament to the unique value propositions delivered by our products.”  
For more information, visit  www.ClaritySystems.com.

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