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Movaris Placed in Visionaries Quadrant for Its Completeness of Vision and Ability to Execute.

SAN JOSE, Calif. -- Movaris, the only General Risk and Compliance Management (GRCM) provider focused exclusively on the Office of Finance, was positioned by Gartner in its Magic Quadrant for Finance, Governance, Risk, and Compliance Management Software, 2007, released February 1, 2007, and authored by French Caldwell and Tom Eid.

In placing companies, Gartner states, "Visionaries have a solid understanding of the market as demonstrated by domain expertise and responsiveness to their customers' expectations. They are actively executing against an aggressive product road map that expands support to additional regulatory and nonregulatory compliance needs."1

"We believe Movaris' position within the Gartner Visionary Quadrant confirms the benefits that Movaris customers receive through our innovation and thought leadership in the Finance GRC arena," stated Eric Keller, CEO of Movaris. "We are committed to transforming the Last Mile of Finance(SM) so that our customers can substantially reduce the risk of material weaknesses and restatements, reduce compliance costs, focus on critical business analysis functions and, ultimately, better compete in the marketplace."

The Movaris OneClose solution is a comprehensive suite of financial compliance and close applications designed to reduce the risk of material errors while driving efficiencies into the Last Mile of Finance -- the series of tasks performed during account reconciliations, SOX compliance, and financial close that result in SEC filings and other critical disclosures. OneClose is the industry's only solution that integrates enterprise-wide account reconciliations, SOX compliance, and financial close tasks, efficiently validating the process behind disclosing financial results. Movaris OneClose is also the first solution to include dynamic scoping of controls and close tasks based on materiality criteria.

About the Magic Quadrant

The Magic Quadrant is copyrighted February 1, 2007 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Movaris

Movaris combines deep finance experience with easy-to-use, patented technology to transform the Last Mile of Finance(SM) - the series of tasks performed during account reconciliations, SOX compliance, and financial close. As a result, the office of finance can concentrate on its strategic role of creating value for shareholders.

Fortune 1000 companies use Movaris' solutions for their financial compliance and close processes. Movaris is headquartered in San Jose, California. For more information, please visit www.movaris.com or call 888.800.7545.

Movaris is a registered trademark of Movaris Inc. All other company and product names are trademarks or registered trademarks of their respective holders.

1 Gartner Research "Magic Quadrant for Finance, Governance, Risk and Compliance Management Software, 2007" by French Caldwell and Tom Eid. February 1, 2007.
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Publication:Business Wire
Date:Feb 7, 2007
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