Two Step Announces Latest Release of Corporate Focus

NEEDHAM, Mass., Jan. 10, 2011 /PRNewswire/ -- Two Step Software, the market leader for consolidated entity life-cycle management, ownership administration and equity compensation reporting, has announced the latest release of Corporate Focus, its flagship product since 1995. Version 6.5 of Corporate Focus includes a redesigned user interface, as well as a number of enhancements that continue to simplify comprehensive entity management and ownership reporting. As part of the upgrade, Two Step's equity compensation reporting system, Equity Focus, has been re-branded under the Corporate Focus name.

"With over 200,000 emerging-growth, VC-backed and other privately-held companies tracked in Corporate Focus - and the close relationship between our law firm and CFO customers - it makes sense to consolidate our product names," says Gary D. Levine, CEO of Two Step Software. "Since our goal is to simplify entity life-cycle management for law firms and their clients who share minute book documents and capitalization tables, we want to make sure everyone understands that they are using the same system."

Equity Focus and Corporate Focus are essentially the same system, only Equity Focus has additional features related to equity compensation reporting under FAS 123R (now ASC Topic 718). As such, Equity Focus will now be called Corporate Focus with the Option Expensing module.

The new features of Corporate Focus Version 6.5 include:

• an updated user interface design;
• more in-depth reporting of historical changes to authorized shares;
• automated calculation of reserved shares; and
• updated reports for IRS Sec. 6039 to meet new tax reporting requirements.

Levine explains, "As more law firm clients demand self-service - online access to their own legal information - it's important that everyone is using one consolidated system to improve accuracy, productivity and decision-making. With the updated user interface design, view-only users of Corporate Focus will find it even easier to navigate the system to find information or print reports without any training."

"Clients understand that the more they can do on their own, the less they have to call us, and the lower their legal bills become," says Jeremy Hill, a partner at the Indianapolis law firm Bingham McHale LLP. "Clients want to work with a law firm that helps them create their own efficiencies. In that regard, Corporate Focus has really become a client development tool for our firm."

Corporate Focus Version 6.5 is now available. Those interested in obtaining more information about this release should visit the Two Step Software website at: http://www.twostep.com.

About Two Step Software, Inc.

Two Step Software, Inc. provides the hosted, online system Corporate Focus, used by law firms, in -house counsel, and finance executives for consolidated entity life-cycle management, ownership administration, and equity compensation reporting for more than 200,000 companies. The company is located in Needham, Massachusetts. Visit: www.twostep.com or call: (800) 223-8900 for more information.

SOURCE Two Step Software, Inc.