Module G15 Controlled Flight Into Terrain CFIT 1G15- CFIT Version 08/2009.
Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO [email protected]...
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Transcript of Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO [email protected]...
![Page 1: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/1.jpg)
Clarity SystemsBriefing to FEI CFIT
Mark Nashman President & [email protected] ext. 407
Louis Matherne Director, XBRL [email protected]
![Page 2: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/2.jpg)
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Agenda
• Clarity Systems Overview
• Clarity FSR• Unified Financial Governance Solution
o Automated External Reportingo Integrated XBRL
• Demonstration
• Questions & Answers
![Page 3: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/3.jpg)
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1995Founded
Clarity 6 & Clarity FSRSolutions
Fortune 1000 – across all industries
Customers
40,000+ usersUsers
40% + average annual growth rate
Growth
Focus on CPM & Financial Governance
Focus
No debt. No V.C. Privately held
Stability
Clarity Systems
![Page 4: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/4.jpg)
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Unified Solutions
Automated External Reporting
XBRL
Enterprise Risk Management
CSR Reporting
GAAP to IFRS Conversion
Regulatory Reporting
Budgeting Forecasting Planning
Reporting & Analytics
Financial Allocations
Profitability Modeling
Financial Modeling
Scorecards Dashboards
Financial Consolidations
Strategy Maps
CPMClarity 6.5
Financial GovernanceFSR 6.5
• Single Technology• Single Installation
• Single Upgrade Path• Unified Licensing Model
• Single User Interface• Single Training Program
![Page 5: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/5.jpg)
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What the Analysts are Saying…
Clarity named “Cool Vendor”Gartner Cool Vendors in Risk Management and ComplianceMarch 19, 2009
Clarity named “Visionary”Gartner Magic Quadrant for CPM SuitesDecember 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
![Page 6: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/6.jpg)
Clarity FSRAutomated External Reporting
![Page 7: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/7.jpg)
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The Last Mile in Financial Reporting
PlanningModeling
BudgetingForecasting
The Last Mile
Board Book10Q, 10KAnnual ReportProspectus
ConsolidationReporting
• 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
![Page 8: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/8.jpg)
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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
![Page 9: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/9.jpg)
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Clarity FSR – How it Works
• 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
Clarity FSRExternal Document
FinancialInformation
OLAP
Relational
ERP
Consolidations
Data Sources
Data Collection(Statistical & Operational)
Co
llab
ora
tio
n
• Balance Sheet• Income Statement• Cash Flow Statement
• Title Page• Table of Contents• Letter to Shareholders• Business Overview
• Notes – Cash• Notes – Long Term
Assets• Notes – Revenue• Auditors Report• Compliance Processes
EDGAR-ready
Output Options
In-Design
HTML
![Page 10: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/10.jpg)
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Sharing Information Across the Organization
Investor Relations
Regulatory ReportingExternal Reporting
Legal
Internal Reporting
“One Version of the Truth”
Across the Enterprise
ClarityFSR
![Page 11: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/11.jpg)
Clarity FSR – XBRL
Louis Matherne Director, XBRL Services
![Page 12: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/12.jpg)
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June 30 2009 June 30 2010 June 30 2011 June 30 2012
SEC XBRL MandateJune 30 June 30
Large Accelerated Filers(~500 companies)>$5B public float
Detail taggingof financials
Block tagging of notes/schedules
Detail & blocktagging ofnotes/schedules
All other Large Accelerated Filer (~1,200 companies)
Detail taggingof financials
Block tagging of notes/schedules
Detail & blocktagging ofnotes/schedules
All Remaining Filers(~7,200 companies)
Detail taggingof financials
Block tagging of notes/schedules
Detail & blocktagging ofnotes/schedules
“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
![Page 13: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/13.jpg)
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External Reporting & XBRL
Bolt-On XBRL (Year 1 – Block Tagging Only)
FinancialConsolidation
s
ExternalReporting Process
SECFiling
ExternalReporting Process
SECFiling
FilingDeadline
![Page 14: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/14.jpg)
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External Reporting & XBRL
Bolt-On XBRL (Year 2 – Detail Tagging)
With more work to do the risk of late filing and the risk of errors
increases.
FinancialConsolidation
s
SECFiling
ExternalReporting Process
SECFiling
ExternalReporting Process
SECFiling
FilingDeadline
![Page 15: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/15.jpg)
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SECFiling
ExternalReporting
Process
FinancialConsolidation
s
ExternalReporting Process
SECFiling
ExternalReporting Process
SECFiling
FilingDeadline
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 fasterLeading to:• Reduced Risk of Late File, and• Reduced Risk of Errors
Clarity FSR’s Integrated XBRL
External Reporting & XBRL
Plus, Clarity FSR automates the overall external reporting process, so timelines can be further reduced
![Page 16: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/16.jpg)
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Clarity FSR – the only Integrated XBRL Solution
Bolt-Onto the External Reporting Process
Clarity FSRIntegrated with the External Reporting Process
Basic XBRL tagging
XBRL tagging
Support for the latest taxonomies
XBRL Validation
Advanced XBRL Capabilities
Tag OnceTM
Seamless Integration with Source Data
Automated Rounding
Define document once - publish to multiple formats
Audit trail
Workflow
Automated Taxonomy Extensions
Taxonomy Version Management
Taxonomy Custom View
Taxonomy Collaboration
Inline XBRL Output
Variables in text
Integrated Compliance Check-Lists
![Page 17: Clarity Systems Briefing to FEI CFIT Mark NashmanPresident & CTO mnashman@claritysystems.com 416-250-5500 ext. 407 Louis MatherneDirector, XBRL Services.](https://reader035.fdocuments.us/reader035/viewer/2022062516/56649e105503460f94afab55/html5/thumbnails/17.jpg)
Clarity SystemsBriefing to FEI CFIT
Mark Nashman President & [email protected] ext. 407
Louis Matherne Director, XBRL [email protected]