Cartesis

Cartesis was a financial software company established in 1990 in Paris, France, specializing in Business Performance Management (BPM) and Enterprise Performance Management (EPM). The company's origins trace back to 1985 as an internal project within the French global company Vivendi. Tasked with creating a reporting and consolidation system for its 4,000 global units, the resulting internal system attracted significant interest from other major European companies, leading to its spin-off as Cartesis in 1990.

The firm provided a suite of software solutions designed for large, multinational enterprises, enabling them to manage complex financial processes. Its flagship product, which evolved from 'Magnitude' to 'Cartesis Finance' and eventually 'Cartesis 10', offered an integrated, web-based platform for financial consolidation, reporting, planning, budgeting, and forecasting. This integrated data model was a key differentiator, allowing for a unified view of financial management activities. Cartesis served a client base of over 1,300 customers worldwide, with a strong presence in France, counting 85% of the CAC 40 among its clients. The company generated revenue through software licensing, maintenance, and consulting services.

A notable feature of Cartesis's offering was its early adoption and implementation of the eXtensible Business Reporting Language (XBRL). This enabled clients to benchmark their performance against competitors using live, accurate data from sources like Edgar Online, a significant advantage for compliance and strategic analysis. The platform was designed to handle the intricate accounting and reporting rules of global corporations. Its software, such as the SAP BusinessObjects Financial Consolidation tool, could support up to 40 dimensions for data analysis, manage multiple organizational structures, and handle complex intercompany reconciliations.

The company underwent several ownership changes. In 1999, it was acquired by PricewaterhouseCoopers, and in 2003, it was sold to a consortium of funds. A major milestone in its history was the acquisition by Business Objects in June 2007 for approximately $300 million. This move was part of a broader consolidation trend in the business intelligence and EPM software market. Just a few months later, in late 2007, SAP acquired Business Objects, and with it, Cartesis. Following the acquisition, Cartesis's products were rebranded and integrated into the SAP portfolio, with Cartesis Finance becoming known as SAP BusinessObjects Financial Consolidation (SAP BFC). Ultimately, the Cartesis name and standalone company identity were phased out as its technology became a core part of SAP's offerings for financial management.

Keywords: Cartesis, Business Performance Management, Enterprise Performance Management, financial consolidation, financial reporting, budgeting, forecasting, XBRL, SAP BFC, Business Objects, Vivendi, Magnitude, financial software, statutory consolidation, management reporting, performance management, data model, intercompany reconciliation, OLAP, compliance reporting