SOURCE: Cartesis Inc.

May 07, 2007 09:03 ET

Cartesis Introduces Cartesis 10 Release 2

First Performance Management Suite to Include Financial Governance, Risk and Compliance Solution

NORWALK, CT -- (MARKET WIRE) -- May 7, 2007 -- Cartesis, the world's leading specialist in finance and performance management software, today announced the release of Cartesis 10 Release 2, the latest version of its performance management suite, with brand new modules including Cartesis Governance and Cartesis Workforce Planning together with functionality and performance enhancements across the entire suite. As a result, Cartesis 10 now offers the most comprehensive, powerful and trustworthy means to achieve faster and more sustainable financial reporting and compliance.

"It makes sense for the Financial GRC and Performance Management markets to converge. Cartesis is taking early steps with the development of new Finance GRC capabilities as part of Cartesis 10 Release 2," says Kathleen Wilhide, research director, GRC and Performance Management solutions at IDC. "With Finance GRC, Cartesis has recognized the integration points of financial consolidation and reporting with compliance and internal controls management, which should yield reliability, efficiency and ultimately cost benefits."

Highlights of the new Cartesis 10 Release 2 include:

--  Cartesis Governance -- the only Financial Governance, Risk and
    Compliance solution unified with a performance management suite -- offers a
    single framework for all risk and control processes and dramatically
    reduces the effort and cost associated with financial compliance.
--  Cartesis Workforce Planning provides complete salary, tax and benefits
    expense calculations, allows organizations to plan detailed expenses for
    employees, and illustrates how incremental changes to staffing and
    associated costs affect an organization's bottom line.
--  Cartesis Finance continues to enhance performance for a faster close
    with new functionality including incremental consolidation, audit and
    compliance features, workflow, package change logs, security, and password

"We already trust Cartesis to support our finance and performance management processes and as a result we are particularly excited by the latest release of Cartesis 10," said Ray Nicholson, Consolidation Systems Manager at Cargill, a US-based international provider of food, agricultural and risk management products whose revenues exceed $75 billion. "We anticipate that the new features of Cartesis Finance will drive greater efficiencies into our financial reporting process and that with the introduction of Cartesis Governance, Cartesis will be able help companies like Cargill achieve even more sustainable and lower cost financial compliance."

Cartesis 10 Release 2 is being unveiled in May at the Cartesis user conference, Connect 2007 North America (, and will be available in June 2007.

"Cartesis now leads the market with the most innovative and powerful performance management solution available," said Didier Benchimol, CEO of Cartesis. "The first to unify all financial compliance functions with performance management, we now offer CEOs and CFOs the most comprehensive platform on which they can both manage their business' performance and ensure compliance with global standards."

About Cartesis

Cartesis is the world's leading specialist in finance and performance management software with more than 1,300 corporate customers, 600 employees and 200 consultants worldwide. Created in 1990, Cartesis provides insight, control and confidence by unifying information, people and processes at demanding multinationals like Air France KLM, Cargill, Danone, Diageo, Nissan, Société Générale and Standard Life. One in four of Fortune Global 100 companies rely on Cartesis' deep financial expertise and standard-based technology for compliance, financial consolidation, management reporting, planning, budgeting, forecasting, intercompany reconciliation; all unified in a single data-model that can be leveraged by internal and external users. Cartesis' partners include Accenture, Bearing Point, Ernst & Young, KPMG, Microsoft, and PricewaterhouseCoopers. Cartesis has customers in 44 different countries and offices in Brussels, Frankfurt, London, Norwalk (CT), Paris, Tokyo, Toronto and Utrecht. For more information, go to

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Contact Information

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