Software provides performance management for legal industry.July 9, 2007 -
Designed to meet needs of law and other professional services firms, Clarity 6.1 Legal Edition includes predefined data models, data acquisition forecasting and modeling functionality, business intelligence dashboards, and complete financial reporting package. Program facilitates collaboration during budgeting cycle while offering real-time aggregations, driver-based budgeting, top down planning through global assumptions, and bottom up adjustments by regional offices.
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Original Press release
Clarity Systems
2 Sheppard Avenue East, Suite 800
Toronto, , M2N 5Y7
Canada
Clarity Systems Launches Clarity 6.1 Legal Edition
New edition of corporate performance management solution provides comprehensive planning, forecasting and financial reporting for the legal industry
LAS VEGAS, NV (June 26, 2007) - Clarity Systems, a leader in corporate performance management (CPM) solutions, today announced the launch of Clarity 6.1 Legal Edition, a solution designed to help professional services organizations better perform and manage their budgeting and forecasting activities. The new release is being showcased at the annual 2007 Thomson Elite User Conference being held at the Wynn Las Vegas from June 26 to June 28.
As part of the highly functional Clarity 6.1 software solution, the Legal Edition includes sophisticated capabilities such as predefined data models, advanced acquisition forecasting and modeling functionality, business intelligence dashboards, and a complete financial reporting package. These enhancements are specifically designed to meet the complex performance management needs of law and other professional services firms.
"Clarity 6.1 Legal Edition has helped us to organize our budget and allows us to standardize and maintain a common budgeting process," says Julie Rosenberg, Controller at Hodgson Russ. "Previously when someone had a question about the budget it was a matter of pulling out physical files or pulling up spreadsheets to confirm what the numbers mean and where they came from. Now everything is right at our fingertips. With Clarity, we can breakdown all information by practice area and department to compare budgets to actuals, analyze profitability, and conduct cost analysis."
Some of the new features in Clarity 6.1 Legal Edition include:
Predefined data models
- Provides pre-defined planning data models that represent best practices of the legal industry
- Offers easy configuration to meet a firm's specific planning and reporting requirements
- Multi-currency support
Advanced acquisition forecasting and modeling
- Streamlines 'what-if' modeling to effortlessly generate financial alternatives using different parameters
- Flexibility to copy, alter data and report variances between multiple versions
Business Intelligence (BI) dashboards
- Designs executive dashboards and supports interactive charts and graphs with Clarity Visualizer
- Creates profitability reports to review a firm's profitability across practices or clients
Full reporting package
- Comes with a series of out-of-the-box reports including client, timekeeper, analytical and profit and loss reports
- Performs ad-hoc financial analysis and financial statutory reporting
- Includes drill-through capabilities to access supporting details and actual transitions to investigate and understand variances
- Creates and distributes highly formatted financial statements
Clarity Systems' expertise in providing legal vertical solutions is strengthened by their reseller partnership with Thomson Elite, a leading provider of financial and practice management systems to professional services markets. The Clarity 6.1 Legal Edition solution connects to Elite Enterprise and Elite 3E databases ensuring a legal firm's budgeting and forecasting processes seamlessly feed into each other.
"Clarity software helps Thomson Elite's customers in their everyday operations," said John Callahan, director, market segments at Thomson Elite. "With Clarity 6.1 Legal Edition, we are providing legal firms easy to use planning solutions with intuitive features, helping them remain efficient, capture more hours and spend more time on practicing law."
"Our knowledge in the operations and management of legal and professional services organizations is evident in the functionality of Clarity 6.1 Legal Edition," said Paul Hill, COO at Clarity Systems. "The software offers integrated, out-of-the box solutions necessary to ensure the development of effective plans for law firms."
About Clarity 6.1 Legal Edition
Clarity 6.1 Legal Edition is a comprehensive planning, forecasting and financial reporting application for the legal vertical. The Legal Edition leverages the functionality of the Clarity 6.1 software solution to offer additional capabilities that meet the unique needs of the legal and professional services industry. It offers easy collaboration during the budgeting cycle, real time aggregations, driver based budgeting, top down planning through global assumptions, and bottom up adjustments by regional offices as well as other processes necessary to create successful plans for law firms.
About Clarity Systems
Clarity Systems delivers superior CPM software solutions, training, consulting, and advisory services for financial budgeting, planning, reporting, consolidation, and analytics to a large client base across North America. With a rich feature set, Clarity 6 is a unified application that offers the flexibility, security, and control needed to meet compliance requirements, make more informed business decisions, and ensure better corporate responsibility. As a Branham 300 top 100 IT company, Clarity Systems continues to experience a large growth in revenue, expand its client base, and lead the industry as the CPM solutions' specialist. For more information on Clarity, please visit our website at www.claritysystems.com or call us toll free at 1-877-410-5070.
For more information, please contact:
Joanna Bonos
Communications Specialist
Clarity Systems Limited
416-250-5500 ext. 250
Toll free: 1-877-410-5070 ext. 250
pr@claritysystems.com
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