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Clarity Systems Briefing to FEI CFIT

Clarity Systems Briefing to FEI CFIT. Mark Nashman President & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis Matherne Director, XBRL Services lmatherne@claritysystems.com 212-336-0452. Agenda. Clarity Systems Overview Clarity FSR Unified Financial Governance Solution

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Clarity Systems Briefing to FEI CFIT

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  1. Clarity SystemsBriefing to FEI CFIT Mark Nashman President & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis Matherne Director, XBRL Services lmatherne@claritysystems.com 212-336-0452

  2. Agenda • Clarity Systems Overview • Clarity FSR • Unified Financial Governance Solution • Automated External Reporting • Integrated XBRL • Demonstration • Questions & Answers

  3. Clarity Systems Founded 1995 Focus on CPM & Financial Governance Focus Clarity 6 & Clarity FSR Solutions Customers Fortune 1000 – across all industries Users 40,000+ users Growth 40% + average annual growth rate Stability No debt. No V.C. Privately held

  4. Unified Solutions • Single Technology • Single Installation • Single User Interface • Single Training Program • Single Upgrade Path • Unified Licensing Model CPM Clarity 6.5 Financial Governance FSR 6.5 Budgeting Forecasting Planning Automated External Reporting Financial Consolidations Regulatory Reporting Reporting & Analytics XBRL Financial Modeling Financial Allocations GAAP to IFRS Conversion Profitability Modeling Enterprise Risk Management Scorecards Dashboards CSR Reporting Strategy Maps

  5. What the Analysts are Saying… Clarity named “Cool Vendor” Gartner Cool Vendors in Risk Management and Compliance March 19, 2009 Clarity named “Visionary” Gartner Magic Quadrant for CPM Suites December 19, 2008 “Clarity Systems has a differentiated capability to produce full regulatory filings as well as strong XBRL tools.” Source: The Forrester Wave, October 2007

  6. Clarity FSRAutomated External Reporting

  7. The Last Mile in Financial Reporting The Last Mile Budgeting Forecasting Consolidation Reporting Planning Modeling Board Book 10Q, 10K Annual Report Prospectus • Manual processes dominate “The Last Mile” • Extensive use of MS-Word and MS-Excel, shared via e-mail • Data accuracy issues • Collaboration is difficult • No internal controls • No audit trail • High degree of risk • Manual process is repeated each reporting period

  8. Clarity FSR – Improving The Last Mile Automated method to produce statutory, regulatory and internal reports 10K, 10Q, 8K, MD&A, Annual, Board Book, Prospectus, Flash or Management Clarity FSR key features: Dynamically driven from a central database Leverage the formatting capabilities of MS-Word and the calculation features of MS-Excel Collaborative environment Security driven access with full audit trail Workflow for report reviews and approvals

  9. Clarity FSR – How it Works Data Sources Clarity FSR External Document Output Options ERP • Title Page • Table of Contents • Letter to Shareholders • Business Overview • Balance Sheet • Income Statement • Cash Flow Statement • Notes – Cash • Notes – Long Term Assets • Notes – Revenue • Auditors Report • Compliance Processes Consolidations • Title Page • Table of Contents • Letter to Shareholders • Business Overview Relational Collaboration Financial Information • Balance Sheet • Income Statement • Cash Flow Statement EDGAR-ready OLAP • Notes – Cash • Notes – Long Term Assets • Notes – Revenue • Auditors Report • Compliance Processes HTML In-Design Data Collection (Statistical & Operational)

  10. Sharing Information Across the Organization “One Version of the Truth” Across the Enterprise Clarity FSR Investor Relations Internal Reporting External Reporting Regulatory Reporting Legal

  11. Clarity FSR – XBRL Louis Matherne Director, XBRL Services

  12. SEC XBRL Mandate • “Detail tagging of notes/schedules”: • Every data point (e.g., monetary value, percentage or number) in the financial notes or within bodies of text must be separately tagged June 30 June 30 June 30 2009 June 30 2010 June 30 2011 June 30 2012

  13. External Reporting & XBRL Bolt-On XBRL (Year 1 – Block Tagging Only) Filing Deadline SEC Filing SEC Filing External Reporting Process External Reporting Process Financial Consolidations

  14. External Reporting & XBRL Bolt-On XBRL (Year 2 – Detail Tagging) Filing Deadline SEC Filing SEC Filing SEC Filing External Reporting Process External Reporting Process Financial Consolidations With more work to do the risk of late filing and the risk of errors increases.

  15. External Reporting & XBRL Clarity FSR’s Integrated XBRL Filing Deadline External Reporting Process SEC Filing SEC Filing SEC Filing External Reporting Process External Reporting Process Financial Consolidations • With Clarity FSR, the XBRL tagging is more efficient: • XBRL tagging is integrated within the external reporting process, plus • Clarity FSR Tag OnceTM technology make future reporting even faster • Leading to: • Reduced Risk of Late File, and • Reduced Risk of Errors Plus, Clarity FSR automates the overall external reporting process, so timelines can be further reduced

  16. Clarity FSR – the only Integrated XBRL Solution

  17. Clarity SystemsBriefing to FEI CFIT Mark Nashman President & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis Matherne Director, XBRL Services lmatherne@claritysystems.com 212-336-0452

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