In a new offering designed to stress its benchmarking capabilities, financial software provider Cartesis announced the launch of Cartesis 10.
The software, for business performance management, integrates internal and external financial data for publication, benchmarking and M&A planning. A new partnership with Edgar Online will also allow Cartesis customers to pull external financial data into an integrated suite of products to measure company performance and run "what-if" scenarios.
The software also allows users to create and manipulate financial information formatted as Extensible Business Reporting Language. XBRL is a technology that tags financial information through disparate applications and carries it through the business reporting chain.
Vice president of product marketing Trevor Walker said that the XBRL capability, along with much faster data-processing speeds, are two benefits of the upgrade that accountants might appreciate.
"A lot of the time, business performance management tends to be inwardly focused," Walker said. "We really think the market is growing, firms need to be able to benchmark against their competitors as well as the wider industry. This product can help them do just that"
The renamed Cartesis 10 suite includes the following products:
- Cartesis Finance, formerly Cartesis Magnitude, which helps companies meet regulatory requirements by improving upon financial consolidation, Sarbanes-Oxley document management integration and management reporting functionalities;
- Cartesis Planning, formerly Cartesis ES Planning, which includes user-driven modeling to support decentralized planning; and,
- Cartesis Analytics, formerly Cartesis ES Information Delivery, which provides financial intelligence, reporting and analysis functionalities, along with the ability to distribute role-based reports throughout the business.
Cartesis 10 is being unveiled at Cartesis' user conference, Connect 2006 North America ( www.cartesis.com/connect ), and will be available to the public in June.
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