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IBM Acquires Clarity Systems

IBM announced yesterday the acquisition of Clarity Systems, a Toronto, CA based provider of financial governance software that enables organizations to automate the process of collecting, preparing, certifying and controlling financial statements for electronic filing.  Clarity Systems software helps financial professionals reduce the risks of potential mistakes while minimizing the time required to create and file financial documents.

The acquisition is the latest in a string of $14B worth of acquisitions in the business analytics space, and along with complementing other acquisitions such as OpenPages, highlights IBM's commitment to helping organizations address challenges related to financial governance and risk management.

From the Press Release (IBM Acquires Clarity Systems):

“Smarter decisions thrive on accurate financial information, and it is therefore imperative that financial governance systems reduce risk of error and provide confidence in the external reporting process,” said Rob Ashe, general manager, business analytics, IBM. “Clarity Systems extends IBM’s business analytics capabilities to the office of finance by enabling organizations to help businesses automate complex governance processes, improve data accuracy and provide the foundation for addressing a wide array of regulatory reporting mandates.”

In a blog post, Paul Hamerman from Forrester research shares some of his firm's perspective on Clarity (IBM Makes A Good Catch With Clarity Systems Acquisition)
Clarity Systems is a Strong Performer in "The Forrester Wave: Business Performance Solutions, Q4 2009", offering a very good planning, budgeting, and forecasting solution as part of its flagship product, Clarity 7, along with an improved financial consolidations component. During the past few years, Clarity developed a market-leading regulatory reporting solution, Clarity FSR, which supports the process of creating full SEC filings and also embeds technology for XBRL reporting. IBM Cognos is ranked as a Leader in the same comparative evalution.

Klint Finley from Read Write Web also shares an interesting perspective on the difference between "Business Intelligence" and "Business Analytics":  IBM's Latest Acquisitions and the Difference Between "Business Intelligence" and "Business Analytics"

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