Clarity Systems Named in Leading Industry Analyst Firm’s “Cool Vendors” 2009 Report

TORONTO - 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
www.claritysystems.com 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, dpaolini@claritysystems.com

Source: Clarity Systems

For further information: Dave Paolini, Communications Manager, Clarity Systems Limited, +1-647-242-1184, dpaolini at claritysystems.com