TORONTO, May 13, 2010 /PRNewswire/ -- Clarity Systems, a leader in corporate performance management (CPM) and external reporting solutions, today released CLARITY 7, the latest release of the only truly unified and open CPM solution on the market. CLARITY 7 delivers breakthrough speed with the ability to generate many thousands of reports per hour, and now also delivers powerful new functionality spanning multiple areas and even easier to use interfaces. Within this single, unified application, CLARITY 7 covers all CPM processes in one software product, with one web-based user interface, delivering a powerful yet easy-to-use application for administrators and end-users alike.

Customers have asked for and have been involved in bringing about these step-change improvements to the industry's leading solution for budgeting, planning, forecasting, consolidations, scorecards, analysis, modeling and reporting, said Mark Nashman, President CTO, Clarity Systems. We're confident that this announcement will continue to fuel the rapid growth of the firm, enabling us to maintain our lead as the fastest-growing CPM vendor in the world(1), he added.

Powerful New Consolidations Solution

With a brand new financial consolidations engine, CLARITY 7 Consolidations now avoids duplication of data through optimized data storage , dramatically improving processing speeds. Not only does CLARITY 7 Consolidations deliver multi-GAAP/IFRS functionality, multi-currency capabilities, inter-company eliminations, and all of the other capabilities an Office of Finance user would expect in a comprehensive consolidations solution, but it also delivers sophisticated functionality to perform simulations on the consolidation models.

Users can quickly view the financial impact of changes in ownership structure, hierarchical structure or other changes to the model, without impacting the base scenario. And all of this is delivered in a fully-parameter driven configuration platform, making it very easy to set up to meet the most complex global consolidations requirements, said Nashman.

Template and Report Design Made Even Easier with CLARITY 7 Studio

An innovative new tool is also being unveiled: CLARITY 7 Studio. Studio makes it even easier for finance department users to take control of the creation and on-going management of sophisticated data entry templates and reports, without having to engage IT support.

Additionally, CLARITY 7 includes extensive capabilities to perform Profitability Modeling and Optimization, including tools to perform what-if modeling and goal seeking. As well, a comprehensive Strategy Management solution complete with strategic planning and initiative/goal management capabilities are included in CLARITY 7, all within this single, unified CPM application.

'Test Drive' CLARITY 7 at Vision:10 - Clarity's Upcoming User Conference

New features in CLARITY 7 will be demonstrated at Vision:10, Clarity System's Annual Users' Conference in Scottsdale, Arizona - May 17 - 20 in the 'Test Drive' Room at the Fairmont Scottsdale Hotel. See www.claritysystems.com/Vision for details on attending this best-in-class, annual CPM and financial governance event.

Clarity Systems

Clarity Systems delivers software solutions to the Office of Finance. Our software helps large and mid-market organizations around the world improve their budgeting, planning, consolidations, scorecarding and management reporting processes, and also automates their external reporting processes to support the production of regulatory and statutory reports. Our unified applications help CFOs reduce risk while simultaneously improving operational efficiency. For more information, please visit our website at http://www.claritysystems.com or call us at +1-877-410-5070 in North America or +44(0)2031784038 in the UK.

-----------------------------

(1) See recent Gartner Dataquest Market Statistics report - specifically Table 2-1 - in Market Share: Business Intelligence, Analytics and Performance Management Software, Worldwide - 2009 by Dan Sommer and Bhavish Sood. Clarity's 38.0 percent growth worldwide in 2009 based on revenue was more than ten times the overall market growth rate of 3.6 percent.

For further information: Tony Hocevar - VP, Marketing, Clarity Systems Limited, +1(416)250-5500 ext. 403, thocevar@claritysystems.com

SOURCE: Clarity Systems Limited

CONTACT: For further information: Tony Hocevar - VP, Marketing, ClaritySystems Limited, +1(416)250-5500 ext. 403, thocevar@claritysystems.com