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Elite Financial Reporting Announcement Update
Elite’s commitment to technological leadership and addressing customer requirements in the legal market continues with another addition to the Enterprise suite. The integration of the Clarity Financial Reporting and Consolidations solution with the Elite Enterprise firm performance management portfolio is now complete. Following in the footsteps of the successful partnership of Elite Enterprise with Clarity Budgeting & Forecasting, the Financial Reporting and Consolidations solution will be deeply integrated and deployed in a legal market model.
Advanced integration of the new Financial Reporting and Consolidations solution will happen in the coming months, with different versions being made available. Clients will have the option to implement the solution immediately with an additional amount of project service time. Version 1 will offer single currency functionality, Version 2 will offer functionality for Elite Global Release (EGR) clients, and Version 3 will be for multi-currency firms not using EGR. Because Elite will not be offering client support for the Microsoft FRx product beyond May 2010, the timing of this new offering and the delivery of the advanced integration will meet client needs well in advance of the product sunset. Elite clients that are currently active on FRx maintenance will be billed on a prorated basis up to May 2010.
The integration between Enterprise and the Financial Reporting and Consolidations solution will deliver new levels of performance in generating firm-wide financial statements. In addition to performance enhancements, the integrated systems will deliver near real-time financial results when transactions post in Enterprise and become available in Financial Reporting. The combination of advanced product features, offered on a Web and Excel-based application, with the advanced integration with Enterprise position this new generation of financial reporting as a market leader.