Ernst & Young, Cartesis to Focus on Tax Data Mgt/Analytics

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, 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 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 a 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 www.cartesis.com.

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 www.ey.com/thoughtcenter.

Contact Paul Giardina of Cartesis Inc, 203-541-2169 or Ken Kerrigan of Ernst & Young LLP, 212-773-1023.