|
Central Desktop Saves Hundreds of Hours and Thousands of Dollars Annually with OptionEase
Rapidly Expanding Company Leverages OptionEase's Solution and Service to Ensure Equity Compliance
SAN JUAN CAPISTRANO, Calif., November 10, 2009 - OptionEase®Inc., a leader in on-demand software-as-a-service (SaaS) applications for fair-market-value accounting and compliance, today announced that Central Desktop, a leading SaaS-based social technology platform for next-generation business teams,is using OptionEase for equity administration, valuation and compliance. The comprehensive OptionEase solution lets Central Desktop navigate the complex FAS 123(R) [now ASC Topic 178] regulation, saving Central Desktop hundreds of hours and thousands of dollars annually.
Central Desktop’s venture capital funding in 2008 fostered explosive growth and the need to move beyond managing its equity administration with simple Excel spreadsheets and into an equity compliance software application. Central Desktop chose OptionEase to ensure scalable growth without increasing operational overhead, allowingthe company to remain focused on managing its business.
"As we continue on our growth trajectory, it is critical that we stay focused on the strategic direction of our company, even during the rigorous audit process,"said Steve Anderson, director of finance and operations for Central Desktop. "OptionEase’s solution and superb service gave us peace of mind as we headed into our annual audit.It helps us streamline equity administration and ensure ongoing compliance, eliminating the need to spend excessive time and money with accountants and legal teams throughout the audit."
Built to address audit and compliance issues, OptionEase has more than 400 customers worldwide who use the solution to save time and money with complex regulatory issues and audit. With a 98 percent customer retention rate, OptionEase helps clients across a broad number of industries to administer stock plans and remain compliant.
"Central Desktop is a rapidly expanding company that needs a trusted, long-termpartner to achieve ongoing audit readiness and accounting compliance," said Kim Kovacs, CEO and founder of OptionEase. "We built our company and technology from the ground up to deliver a superior solution that is cost-effective, flexible and supported by an expert, dedicated team."
About Central Desktop
Central Desktop delivers a pure Software-as-a-Service (SaaS) social technology platform that allows next-generation business teams to communicate and collaborate more efficiently. Easy to implementand scalable for small and medium-sized businesses, Central Desktop’scollaboration software solution allows businessteams to interact, share and manage their daily work activities from anywhere atany time. Key Central Desktop customers include the Humane Society, CBS, U.S. Department of Health & Human Services, Avid Technology, Omniture, Gymboree, InterContinental Hotels Group and the University of Wisconsin-Madison. Founded in 2005, Central Desktop is a privately-held company with headquarters in Pasadena, California. For more information about the company, visit http://www.centraldesktop.com
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.
|