News/Press Release

CPAC, Inc chooses ClearFinancials® to provide CPM functionality across a diverse multinational corporate structure.

“ClearMomentum, Inc., a developer of CPM, Corporate Performance Management software and services announced the completion of a major global implementation for CPAC, Inc., a large multi-national company headquartered in Leicester, New York. CPAC, Inc., is a large multi-national company that markets specialty chemicals, equipment and hard goods into two industry segments represented by Fuller Brands and the CPAC Imaging group.

The Fuller Brands segment includes The Fuller Brush Company, Stanley Home Products, and Cleaning Technologies Group. Fuller Brands manufactures and markets over 2700 branded and private label products for commercial and household cleaning, and personal care. The Fuller Brush name has been associated with high quality and value for over 100 years and is well known throughout the world.

CPAC’s imaging segment includes three domestic and four international chemical and equipment manufacturing operations representing nearly 800 branded and private-label chemistry formulations, environmental compliance systems, chemical mixers, and accessories. The company markets into over 100 countries worldwide.

Over the past several decades, the company diversified through a host of acquisitions into South Africa, Asia, Europe and the United States resulting in a complex financial reporting structure. Operating systems that differed by division and divisions of divisions coupled with language barriers and five separate currencies combine to create a monumental monthly financial reporting task. Disparity of operating systems, financial structures and currency exchange also made it difficult for CPAC to conduct real-time meaningful business performance analysis.

The implementation of ClearFinancials® provides the company with the ability to achieve one-view of the company’s financial structure from the top level balance sheet down to the general ledger of each operating division. In addition the solution provides the ability to view individual or consolidated financials in any currency at any point in the company’s hierarchy at any time.

In addition, ClearFinancials® unites the entire CPAC enterprise with one corporate budget and modeling solution that aligns each division with corporate objectives. The company may now analyze financials performance metrics as well as non-financial performance metrics at any level through performance dashboards throughout the organization that reflect the company’s unified strategy. The application was implemented from start to finish in less than 90 days.

ClearMomentum provides executive managers with a ‘Purpose Driven’ CPM solution that integrates financial strategy with business analytics, modeling, budgeting and reporting. The solution provides an unmatched user experience delivered via SaaS and can be deployed across the enterprise efficiently and cost effectively.”