SOURCE: Cartesis Inc.

November 29, 2006 09:00 ET

Parker Hannifin to Empower Finance and Operational Managers With Cartesis Performance Management

Cartesis Finance Will Help Automate SOX, Financial and Operational Reporting While Distributing Accountability Throughout the Enterprise

NORWALK, CT -- (MARKET WIRE) -- November 29, 2006 -- Cartesis, the world's leading specialist in finance and performance management software, today announced that Parker Hannifin Corporation (NYSE: PH) selected Cartesis to provide it with global consolidation and financial, statutory and operational reporting applications. Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems with annual sales exceeding $9 billion.

Parker Hannifin chose Cartesis Finance and Cartesis Analytics after an extensive evaluation of major performance management products in today's market place. "We feel that Cartesis is best suited to provide us with a rich performance management environment that is scaleable and flexible enough to meet the diverse needs of corporate, finance and line-of-business users while intuitive enough to be maintained by the business users themselves," says Dana Dennis, Vice President and Controller at Parker Hannifin.

"We are looking forward to the flexibility, ease of use and strong administrative capabilities which Cartesis Finance and Analytics provides. Built-in audit tools and internal controls inherent to Cartesis will help maintain Sarbanes-Oxley compliance." Dennis continued, "As we acquire new businesses or as the reporting view of a business changes, the drag and drop capabilities within the Cartesis system will drastically simplify our current reporting process."

The worldwide Parker user group will have increased Web access and a variety of reporting tools to enhance their analytic capabilities. As many as 500 executives and finance and field managers are expected to rely on the new Cartesis Finance and Cartesis Analytics Web-enabled applications. The solution offers all users 'one version of the truth' with total transparency and auditability.

"Large, complex companies worldwide consistently select Cartesis because of our Integrated Data Model," says Crispin Read, CMO at Cartesis. "We are the only software vendor that provides a performance management suite built on top of one secure Integrated Data Model -- unifying strategic, financial, operational, tax and legal information."

About Parker Hannifin

With annual sales exceeding $9 billion, Parker Hannifin is the world's leading diversified manufacturer of motion and control technologies and systems, providing precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets. Parker has increased its annual dividends paid to shareholders for 50 consecutive years, among the top five longest-running dividend-increase records in the S&P 500 index. The company employs more than 57,000 people in 43 countries around the world. For more information, visit the company's web site at, or its investor information site at

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 Microsoft, Accenture, Bearing Point, Ernst & Young, KPMG 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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