IBM beefs up its portfolio of business analytics software and solutions with the acquisition of Clarity Systems and the closing of its acquisition of OpenPages.
IBM has announced it
acquisition of Clarity Systems, a financial governance software provider, and
Big Blue also announced the close of OpenPages, a maker of software that helps
companies more easily identify and manage risk and compliance activities across
the enterprise through a single management system.
moves expand IBM's business analytics
portfolio to drive financial governance and reduce risk. IBM
made both announcements on Oct. 21; however, financial details were not
Systems delivers financial governance software that enables organizations to
automate the process of collecting, preparing, certifying and controlling
financial statements for electronic filing, in support of mandates by the SEC
and other financial regulatory agencies, IBM
said in a press release about the acquisition. To significantly reducethe
risks of potential error and the lengthy times required to create and file
financial documents, Clarity Systems software allows finance professionals to
seamlessly integrate information for more efficient planning, consolidation and
acquisition of Clarity Systems and represents IBM's
commitment to address financial governance and risk management challenges faced
by financial departments in virtually every industry.
an interview with eWEEK, Steve Mills, IBM
senior vice president and group executive for Software & Systems, said IBM
now has a comprehensive portfolio of business analytics software for financial
professionals to plan, forecast and analyze performance, identify and manage
key business risks, and report to external stakeholders with confidence.
is part of our overall strategy around business analytics," Mills said. "We
have a big franchise around financial reporting and analysis. And OpenPages
adds risk and compliance capability. These two areas have a 'peanut butter and
addition of Clarity Systems and OpenPages gives the office of the CFO a
comprehensive set of solutions for financial performance and strategy
management, risk management and compliance, and financial governance.
departments in organizations are relied upon to provide accurate data more
quickly, improve risk management and forecasting decisions, and meet financial
business goals, IBM said. To address these
demands, CFOs and finance managers are increasingly relying on business
analytics softwareto make faster decisions to anticipate
performance gaps, prioritize resources, and gain insight into profit and
recent IBM study of 1,900 global chief
financial officers and senior finance leaders revealed enterprises that have
adopted standards and increased finance efficiency are performing 25 percent
better by strengthening compliance programs and internal controls. The study
also indicated that enforcing data standards, integrating information and
applying business analytics are key capabilities that enable improved business
insight and risk management.
Clarity Systems, organizations can easily combine financial statements,
operational details, commentary, notes, charts and pictures-virtually an
unlimited assortment of content-into a single document. By integrating all of
these information resources, customers are able to reduce the possibility of
errors and late filings, and quickly and easily produce documents for external
said more than 600 global clients across multiple industry segments are using
Clarity Systems software to improve business processes and increase efficiency
and accountability. In fact, some of the world's largest transportation,
financial services, and energy and utility organizations address financial
reporting and risk management with Clarity Systems software, including British
Airways, WSFS Financial, Young & Co.'s
Brewery plc, Five Star Quality Care, Oglethorpe Power and Sempra Energy
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 of
business analytics at IBM, in a statement. "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
Systems' unified approach offers the flexibility, security and control needed
to make more informed business decisions while meeting compliance requirements,"
said Mark Nashman, president and chief technology officer at Clarity Systems,
in a statement. "As a part of IBM, we
can bring our leading financial governance solution to an established set of
customers who need to effectively and efficiently execute the creation and
delivery of external regulatory filings."
will integrate Clarity Systems within its Business Analytics software
portfolio. In only four years, IBM has
invested more than $14 billion in 24 analytics-related acquisitions, dedicated
7,000 consultants and opened eight analytics Centers of Excellence around the
world to help clients uncover hidden insights within their data, Mills said.
Darryl K. Taft covers the development tools and developer-related issues beat from his office in Baltimore. He has more than 10 years of experience in the business and is always looking for the next scoop. Taft is a member of the Association for Computing Machinery (ACM) and was named 'one of the most active middleware reporters in the world' by The Middleware Co. He also has his own card in the 'Who's Who in Enterprise Java' deck.