Clarity Systems Reports Record Year-End 2007 Results
Company maintains 100 per cent year-over-year growth in software revenue
TORONTO, ON (November 14, 2007) - Clarity Systems, a leader in corporate performance management (CPM) solutions, today announced record results for the company’s full fiscal year, ending September 30, 2007.
Clarity Systems reports record sales including over 100 per cent year-over-year growth in license revenue. The company excelled this year with significant growth in its customer base across North America and the United Kingdom. Additions to Clarity’s customer base include industry leaders such as Intel Corporation, JetBlue Airways, F5 Networks, Orlando Aviation Authority, CAPREIT, Hodgson Russ LLP, Entercom Communications, Eos Airlines, Lane Company, Aquion Water Treatment, Diodes, First Capital Realty, Cascade Engineering, Acronis, SH Group, Hopewell Residential Communities, Fort Dodge Animal Health, Calyx Transportation Group, CMS-XKO, Nova Scotia Gaming Corporation, VanRob, Stradian, Russell Stover Candies, and EMS Technologies.
“The recent market consolidation has clearly benefited Clarity Systems since we are now the only independent vendor providing enterprises with a truly unified and open approach to Corporate Performance Management,” says Mark Nashman, President, Clarity Systems. “With the release of Clarity 6.1 we have validated our position as a leader by introducing features like MS-Office™ integration, goal seeking and a more advanced audit trail. Furthermore, with the release of Clarity FSR, Clarity Systems is now a leader in external financial reporting and this has resulted in a lot of attention from customers, media and analysts.”
“Clarity’s straightforward, easy-to-use, yet sophisticated product line has appealed to companies looking for an all-in-one application,” wrote John Hagerty and Koppel Verma, from AMR Research in the CPM Market Landscape Report in September 2007. “The ability to work in an open IT architecture also distinguishes it from other competitors and offers buyers deployment options not open to them through other vendors.”
To support customer demand, Clarity has doubled the size of its sales team and hired experienced leaders in services, product development and marketing. Clarity has also grown the professional services team by more than 30 people to keep up with the rapid customer growth, but not at the expense of customer satisfaction. In addition to the top rank in budgeting and planning in Forrester’s Business Performance Solutions Wave, Q4 2007, Clarity Systems achieved the top mark in the Customer Support category. “Clarity Systems has outstanding references and provides very good upgrade and support services options,” wrote Paul Hamerman of Forrester.
“During 2007 we made a number of significant investments in our business that we believe are the key to our future growth, including a focus on building out our international operations which has paid off with significant growth in the United Kingdom,” says Nashman. “We are off to a very strong start in the first quarter of 2008 and are on track to achieving significant revenue growth during the year.”
About Clarity Systems
Clarity Systems delivers superior Corporate Performance Management software solutions for financial budgeting, planning, forecasting, consolidation, analytics and financial statement reporting to a large, global client base. With a rich feature set, Clarity 6 and Clarity FSR are unified applications that offer the flexibility, security, and control needed to make more informed business decisions while meeting compliance requirements. Named as one of Profit’s 100 fastest growing companies and a Branham 300 top 100 IT company, Clarity Systems continues to lead the industry as the independent CPM specialist. For more information, please visit our website at www.claritysystems.com or call us at 1-877-410-5070.
For more information, please contact:
Dave Paolini, Communications Manager
Clarity Systems Limited
416-250-5500 ext. 417
Toll free: 1-877-410-5070 ext. 417
dpaolini@claritysystems.com
