SAN JUAN CAPISTRANO, Calif., June 9, 2010 –
OptionEase® Inc., the leader in on-demand software-as-a-service (SaaS) applications for fair-market-value accounting and compliance, today announced a new earnings per share (EPS) reporting function that provides users with advanced flexibility, giving them increased ability to configure reports to match their specific accounting methodology and requirements. Unlike other industry solutions that only offer rigid, pre-defined EPS reports, the new OptionEase reporting function enables users to define dilution and then configure their EPS calculations and reports accordingly.
“This was an important development effort for us. As we continue to convert clients from competing applications, we found that most, if not all, were finalizing their complex EPS calculations in Excel. This clearly violates the intent of having a compliant end-to-end solution upon which both auditors and investors can rely,” said Kim Kovacs, CEO and co-founder of OptionEase. “This is a powerful tool that will handle complex scenarios including performance based awards, liability accounting, modified awards and other non-standard equity instruments – all from within the application.”
With its latest enhancement to its EPS reporting function, OptionEase further differentiates itself from competing solutions with a product that includes weighted share reporting for common stock equivalents, drill-through for audit detail, and the adaptability and business intelligence CFOs demand to react to required disclosures.
OptionEase has more than 400 customers worldwide who rely on its applications to manage complex equity administration, regulatory compliance and audit requirements. With a 98 percent customer retention rate, OptionEase helps clients across a broad range of industries to save time and money while addressing critical requirements.
The OptionEase EPS reporting function will be made available at no additional charge to all existing customers in the first week of July.
About OptionEase, Inc.
OptionEase (www.optionease.com) is leading the evolution of SaaS-delivered regulatory applications in the highly complex governance, risk and compliance (GRC) marketplace. The company’s first product was designed specifically for audit compliance under FAS 123(R) (ASC Topic 718) and now encompasses a full suite of end-to-end equity management tools. This SAS 70 Level II certified solution “standardizes compliance” and enables secure collaboration across multiple constituents, allowing clients to focus on strategic business functions. More than 400 private VC-funded and large multi-national public corporations rely on OptionEase’s solutions and service to comply with financial and regulatory reporting requirements under FAS, SEC and IASB. OptionEase is located in San Juan Capistrano, Calif. and funded by venture capital and private equity.