Ernst & Young LLP and Leading Strategic Analytic Software Vendor Cartesis, Inc. Announce Strategic Alliance to Focus on Tax Data Management and Analytics

Apr 25, 2001, 01:00 ET from Ernst & Young LLP

    NEW YORK, April 25 /PRNewswire/ -- Professional service firm Ernst & Young
 LLP, a leader in tax department operations and tax outsourcing services, and
 Cartesis, Inc., a leading strategic analytic software vendor, today announced
 that they have entered into a strategic alliance focusing on the tax data
 management and analytics market.  Based on the best practices knowledge and
 experience of Ernst & Young, and using Cartesis' Cartesis Magnitude (TM)
 software, the alliance will focus on helping companies streamline their tax
 reporting and related activities and increase the strategic value the tax
 department brings to a business' bottom line.
     "The new economy has changed the tax business forever," said Ken Brown,
 Director of Business Development for Ernst & Young's Global Tax Operate
 business.  "As companies seek new ways to gain a competitive edge, they have
 become more aware of the role that taxes play in shareholder value.  Making
 the most of a business' tax situation requires a new generation of technology
 and process tools aimed at unlocking the value of the corporate tax function,"
 continued Mr. Brown.
     The alliance's solution will give companies the ability to automate the
 collection and reporting of tax information, saving time and money.  Companies
 using Cartesis Magnitude for their Financial Reporting, Forecasting and
 Performance Measurements have the additional benefit of having all this
 information in one application.
     According to Bob Fitzgerald, Vice President of Sales and Marketing for
 Cartesis, Inc.  "The alliance is a natural extension of our Strategic
 Financial Management (SFM) model.  The basis of SFM is an integrated solution
 that measures business performance from financial, operational and strategic
 perspectives.  Tax information is a key piece of this solution, and we are
 excited to be working with Ernst & Young on this initiative," continued Mr.
 Fitzgerald.
     "This alliance with Ernst & Young is a perfect example of our commitment
 to enter into  strategic partnerships to enhance our solutions for our
 clients," adds John Martelli, Director of Alliances for Cartesis, Inc..
 
     About Cartesis
     Cartesis is the leading worldwide supplier of financial analytical
 applications for Strategic Financial Management.  Cartesis offers truly
 integrated applications on a powerful common data model.  Cartesis products
 give Global 2000 companies the analytical capacity and the flexibility they
 need to assess the rapid changes in their market places.  One in six of the
 Fortune Global 100 and more than 25% of the Financial Times European 100 use
 Cartesis solutions to obtain unprecedented command over their financial
 information.
     With over 400 employees, the company maintains offices and distributors
 worldwide.  Cartesis is present in Paris, Stamford, CT, Frankfurt, Brussels,
 Utrecht, Madrid, and Melbourne.  Learn more about Cartesis products and
 services at http://www.cartesis.com .
     Cartesis and Cartesis Magnitude are registered trademarks of Cartesis SA.
 All other trademarks and company names mentioned are the property of their
 respective owners.
 
     About Ernst & Young
     Ernst & Young, a global leader in professional services, helps clients to
 quickly and confidently make financial decisions designed to enhance value.
 Its 77,000 people in more than 130 countries have the industry and financial
 experience to provide fresh perspectives on operating in the new economy.
 Ernst & Young Global Tax Operate business is a leader in tax process, data
 management, and outsourcing solutions.  Ernst & Young also offers traditional
 audit and tax services, as well as customized services in corporate finance,
 online security, risk management, the valuation of intangibles and e-business
 acceleration.  In addition, legal services are available in various parts of
 the world where permitted.  The firm's tax practice is the largest in the
 United States.  A collection of Ernst & Young's latest ideas on the new
 economy can be found at http://www.ey.com/thoughtcenter .
     Ernst & Young refers to the U.S. firm of Ernst & Young LLP and other
 members of the global Ernst & Young organization.
 
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SOURCE Ernst & Young LLP
    NEW YORK, April 25 /PRNewswire/ -- Professional service firm Ernst & Young
 LLP, a leader in tax department operations and tax outsourcing services, and
 Cartesis, Inc., a leading strategic analytic software vendor, today announced
 that they have entered into a strategic alliance focusing on the tax data
 management and analytics market.  Based on the best practices knowledge and
 experience of Ernst & Young, and using Cartesis' Cartesis Magnitude (TM)
 software, the alliance will focus on helping companies streamline their tax
 reporting and related activities and increase the strategic value the tax
 department brings to a business' bottom line.
     "The new economy has changed the tax business forever," said Ken Brown,
 Director of Business Development for Ernst & Young's Global Tax Operate
 business.  "As companies seek new ways to gain a competitive edge, they have
 become more aware of the role that taxes play in shareholder value.  Making
 the most of a business' tax situation requires a new generation of technology
 and process tools aimed at unlocking the value of the corporate tax function,"
 continued Mr. Brown.
     The alliance's solution will give companies the ability to automate the
 collection and reporting of tax information, saving time and money.  Companies
 using Cartesis Magnitude for their Financial Reporting, Forecasting and
 Performance Measurements have the additional benefit of having all this
 information in one application.
     According to Bob Fitzgerald, Vice President of Sales and Marketing for
 Cartesis, Inc.  "The alliance is a natural extension of our Strategic
 Financial Management (SFM) model.  The basis of SFM is an integrated solution
 that measures business performance from financial, operational and strategic
 perspectives.  Tax information is a key piece of this solution, and we are
 excited to be working with Ernst & Young on this initiative," continued Mr.
 Fitzgerald.
     "This alliance with Ernst & Young is a perfect example of our commitment
 to enter into  strategic partnerships to enhance our solutions for our
 clients," adds John Martelli, Director of Alliances for Cartesis, Inc..
 
     About Cartesis
     Cartesis is the leading worldwide supplier of financial analytical
 applications for Strategic Financial Management.  Cartesis offers truly
 integrated applications on a powerful common data model.  Cartesis products
 give Global 2000 companies the analytical capacity and the flexibility they
 need to assess the rapid changes in their market places.  One in six of the
 Fortune Global 100 and more than 25% of the Financial Times European 100 use
 Cartesis solutions to obtain unprecedented command over their financial
 information.
     With over 400 employees, the company maintains offices and distributors
 worldwide.  Cartesis is present in Paris, Stamford, CT, Frankfurt, Brussels,
 Utrecht, Madrid, and Melbourne.  Learn more about Cartesis products and
 services at http://www.cartesis.com .
     Cartesis and Cartesis Magnitude are registered trademarks of Cartesis SA.
 All other trademarks and company names mentioned are the property of their
 respective owners.
 
     About Ernst & Young
     Ernst & Young, a global leader in professional services, helps clients to
 quickly and confidently make financial decisions designed to enhance value.
 Its 77,000 people in more than 130 countries have the industry and financial
 experience to provide fresh perspectives on operating in the new economy.
 Ernst & Young Global Tax Operate business is a leader in tax process, data
 management, and outsourcing solutions.  Ernst & Young also offers traditional
 audit and tax services, as well as customized services in corporate finance,
 online security, risk management, the valuation of intangibles and e-business
 acceleration.  In addition, legal services are available in various parts of
 the world where permitted.  The firm's tax practice is the largest in the
 United States.  A collection of Ernst & Young's latest ideas on the new
 economy can be found at http://www.ey.com/thoughtcenter .
     Ernst & Young refers to the U.S. firm of Ernst & Young LLP and other
 members of the global Ernst & Young organization.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X34761975
 
 SOURCE  Ernst & Young LLP