Clarity Systems announced the launch of Clarity 6.1 Legal Edition, a solution designed to help professional services organizations better perform and manage their budgeting and forecasting activities.
As part of the highly functional Clarity 6.1 software solution, the Legal Edition includes sophisticated capabilities such as predefined data models, advanced acquisition forecasting and modeling functionality, business intelligence dashboards, and a complete financial reporting package. These enhancements are specifically designed to meet the complex performance management needs of law and other professional services firms.
â€œClarity 6.1 Legal Edition has helped us to organize our budget and allows us to standardize and maintain a common budgeting process,â€ says Julie Rosenberg, Controller at Hodgson Russ. â€œPreviously when someone had a question about the budget it was a matter of pulling out physical files or pulling up spreadsheets to confirm what the numbers mean and where they came from. Now everything is right at our fingertips. With Clarity, we can breakdown all information by practice area and department to compare budgets to actuals, analyze profitability, and conduct cost analysis.â€
Some of the new features in Clarity 6.1 Legal Edition include:
Predefined data models
- Provides pre-defined planning data models that represent best practices of the legal industry
- Offers easy configuration to meet a firmâ€™s specific planning and reporting requirements
- Multi-currency support
Advanced acquisition forecasting and modeling
- Streamlines â€˜what-ifâ€™ modeling to effortlessly generate financial alternatives using different parameters
- Flexibility to copy, alter data and report variances between multiple versions
Business Intelligence (BI) dashboards
- Designs executive dashboards and supports interactive charts and graphs with Clarity Visualizer
- Creates profitability reports to review a firmâ€™s profitability across practices or clients
Full reporting package
- Comes with a series of out-of-the-box reports including client, timekeeper, analytical and profit and loss reports
- Performs ad-hoc financial analysis and financial statutory reporting
- Includes drill-through capabilities to access supporting details and actual transitions to investigate and understand variances
- Creates and distributes highly formatted financial statements
Clarity Systemsâ€™ expertise in providing legal vertical solutions is strengthened by their reseller partnership with Thomson Elite, a leading provider of financial and practice management systems to professional services markets. The Clarity 6.1 Legal Edition solution connects to Elite Enterprise and Elite 3E databases ensuring a legal firmâ€™s budgeting and forecasting processes seamlessly feed into each other.
â€œClarity software helps Thomson Eliteâ€™s customers in their everyday operations,â€ said John Callahan, director, market segments at Thomson Elite. â€œWith Clarity 6.1 Legal Edition, we are providing legal firms easy to use planning solutions with intuitive features, helping them remain efficient, capture more hours and spend more time on practicing law.â€
â€œOur knowledge in the operations and management of legal and professional services organizations is evident in the functionality of Clarity 6.1 Legal Edition,â€ said Paul Hill , COO at Clarity Systems. â€œThe software offers integrated, out-of-the box solutions necessary to ensure the development of effective plans for law firms.â€