SOURCE: Cartesis

July 12, 2005 08:30 ET

Cartesis Releases Cartesis Planning 4.1 -- A Cross-Industry Best of Breed Planning and Forecasting Application

Acquisition of INEA Corporation Complete and Set to Bolster Company's BPM Offering

PARIS -- (MARKET WIRE) -- July 12, 2005 -- Cartesis Group, a leading supplier of business performance management (BPM) software, today announced the conclusion of the acquisition of INEA Corporation, a provider of enterprise planning, forecasting and reporting software solutions. With the completion of this transaction, Cartesis announces the release of Cartesis Planning 4.1, a best of breed planning and forecasting solution that is the first deliverable following the acquisition of INEA.

Cartesis Planning 4.1 is the next step in the delivery of a unique common infrastructure that supports the three pillars of BPM: Financial Consolidation, Planning and Forecasting, and Information Delivery which will result in unified data, metadata and processes, improved productivity and reduced total cost of ownership.

Formally called INEA 4.01, the application has a proven reputation amongst the world's largest and most complex organizations, with over 7,000 users in 44 countries including Mellon Financial Corporation, RBC Financial Group, Scotiabank and KeyBank.

Cartesis Planning 4.1 addresses the complete set of customers' planning processes from top-down planning to bottom-up execution. The solution offers real-time forecasting and what-if scenario analysis. Further, Cartesis Planning 4.1 has built-in financial intelligence, collaboration and analysis, sophisticated process workflow and control, as well as documentation delivering transparency and auditability.

"The completed integration of INEA and the creation of a global Centre of Excellence in Toronto provide us with a robust planning and forecasting solution," said Didier Benchimol, CEO of Cartesis. "Cartesis Planning 4.1 accelerates our time-to-market with a planning and forecasting application that will address the needs of our existing and prospective Global 2000 customers across all vertical industries."

Organizations deploying Cartesis Planning 4.1 will also be able to benefit from future integration with Cartesis ES Magnitude, the worldwide best-in-class Financial Consolidation and Management Reporting application. This will enable them to leverage the same unified engine -- the Integrated Data Model -- that includes all critical variables for insightful decision-making and real-time reconciliation of actuals and plans.

"The acquisition of INEA is a positive and strategic move for Cartesis," said Kathleen Wilhide, Research Director for Compliance and Business Performance Management at IDC. "The subsequent release of Cartesis Planning 4.1, an application with a proven track record, will accelerate Cartesis' ability to capitalize on the BPM market opportunity and in particular Planning and Forecasting which is the fastest growing segment of this market."

About Cartesis

Cartesis is a global software vendor that provides trusted solutions for driving your company's financial and business performance. Cartesis equips its customers with the control and insight they need to assess and react in today's rapidly changing marketplace. One in five Fortune Global 100 companies rely on Cartesis' powerful technology to unify complex information, people and processes in a single data model that can be applied easily and consistently across multiple geographies and business segments. Cartesis' customers' success depends on having meaningful insight to act upon, because great performances start with confidence.

Headquartered in Paris, Cartesis has offices in Brussels, Frankfurt, London, Norwalk (CT), Tokyo and Utrecht. The company has more than 1,300 corporate customers and partners worldwide in 25 countries around the globe.

All cited names and/or trademarks are the property of their respective owners.

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