Budgeting Software Journal

Budgeting and Forecasting Software News And Reviews

Clarity Systems reports a 38 per cent growth in revenue for 2005

By Budgeting Software Journal

TORONTO, ON (February 13, 2006) – Clarity Systems, a leader in corporate performance management (CPM) solutions, today announced its 2005 fiscal results, ended September 30, 2005, reporting a 38 per cent annual revenue growth.

Clarity SystemsClarity Systems’ revenue is generated solely from its CPM product and services, the company’s focus and specialization. Clarity’s revenue grew from $16 million in 2004 to $22 million in 2005 due to the growth of its client base with the implementation of 65 new performance management projects. The majority of Clarity’s clients are large market players, and 2005 saw the addition of Global Fortune 2000 and Canada Top 1000 company Shoppers Drug Mart, leading US companies, including HOLT CAT and Safe Auto Insurance Company, and nonprofit organization, CFED, who acquired CPM through Clarity’s gift-in-kind program.

“We continue to grow and make our distinct mark in the performance management industry,” says Frank Pizzolato, CEO, Clarity Systems. “2005 was another strong year for us and we are very proud of what we have accomplished.”

“Clarity’s continued success can be attributed to our strong product and the expertise of our CPM experts. Our company specializes in CPM, so we are focused on ensuring our product and people can deliver the best services that meet our customers’ needs and take them to the next level of performance,” says Mark Nashman, President, Clarity Systems. “Our professionals are always on the leading edge of CPM best practices because CPM is all our company focuses on day-in and day-out.”

2005 also brought significant accomplishments to Clarity:

  • Named one of Profit Magazine’s 100 fastest growing companies
  • Ranked #1 by customers in software technology functionality by BPM magazine’s Solutions Satisfaction Survey
  • Received awards for innovation and market expansion by the Ontario government’s Ontario Global Traders Awards (OGTA)
  • Received readership award for vendor satisfaction from DM Review and BI Review, leading publications for business intelligence and analytics

“We are excited about the opportunities that 2006 will present for Clarity Systems,” says Nashman. “We will be releasing our much anticipated Clarity Performance Management™ version 6 for general availability, and we are hosting our annual conference, Vision, for our clients in Las Vegas in May. Our future is brighter than ever, and we are looking forward to the road ahead.”