TORONTO, March 31 /PRNewswire/ --

- Clarity Selected as One of the Cool Vendors in Risk Management and Compliance, 2009

Clarity Systems today announced that it has been included in the list of Cool Vendors in the Gartner Cool Vendors in Risk Management and Compliance, 2009 report published on March 19, 2009.

We're very excited to see Gartner evaluate us, which we believe is acknowledgement of the innovation we've brought to market with Clarity FSR(TM). Clarity FSR automates the external reporting process, leading to increased efficiency, reduced risk and improved control. Some of the cool features available in Clarity FSR include: a comprehensive audit trail of all activities related to the external reporting process, workflow to track the submission, review and approval process, and seamless integration with source data - so that changes in the source data automatically flow into Clarity FSR documents, says Mark Nashman, President and CTO, Clarity Systems. These features and many more capabilities differentiate Clarity FSR and explain why both customers and partners are rapidly adopting this breakthrough technology.

According to Gartner, The products and service offerings from this year's Cool Vendors vary widely in purpose and implementation, but they are similar in at least one critical respect: They all offer real benefits in terms of business performance, information quality and continuity of service, as well as the core proposition of improving effectiveness and reducing the costs of compliance and risk management.

Clarity FSR is also the clear leader in the XBRL market, with its unique Integrated XBRL capabilities. With Clarity FSR, the creation of XBRL output is fully integrated within the external reporting process leading to a more efficient process, less risk and reduced reporting timelines, says Louis Matherne, Director of XBRL Services at Clarity Systems and former President of XBRL International.

Beyond external reporting, Clarity FSR also provides a unified financial governance platform with support for: Tax Reporting, the Conversion from GAAP to IFRS, Account Reconciliation, Continuous Controls and Risk Management. As a result, our clients can leverage their investment in Clarity FSR to address many key needs within the Office of Finance, without incurring additional software licensing fees - further extending the return on investment that our customers enjoy, added Nashman.

About Gartner's Cool Vendors Selection Process

Gartner's listing does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness of a particular purpose.

Gartner defines a cool vendor as a company that offers technologies or solutions that are: Innovative, enable users to do things they couldn't do before; Impactful, have, or will have, business impact (not just technology for the sake of technology); Intriguing, have caught Gartner's interest or curiosity in approximately the past six months.

Clarity Systems

Clarity Systems delivers software solutions to the Office of Finance. Our software helps large and mid-market organizations around the world improve their budgeting, planning, consolidations, scorecarding and management reporting processes, and also automates their external reporting processes to support the production of regulatory and statutory reports. Our unified applications help CFOs reduce risk while simultaneously improving operational efficiency. For more information, please visit our website at or call us at +1-877-410-5070 in North America or +44-203-178-4038 in the UK.

For further information: Dave Paolini, Communications Manager, Clarity Systems Limited, +1-647-242-1184,

For further information: Dave Paolini, Communications Manager, Clarity Systems Limited, +1-647-242-1184,