Red Moon Solutions and PARIS Technologies Launch Powerful Tax Intelligence Solutions for Corporate Tax Departments

May 5, 2008

Red Moon Solutions, LLC and PARIS Technologies International, Inc. today announced a partnership agreement. Red Moon Solutions as a member of PARIS Technologies International’s Certified Partner Program will deliver PARIS’s PowerOLAP™, a cost effective business intelligence solution, to corporate accounting and tax departments. PowerOLAP™ is an enterprise-wide planning, analysis and reporting information system that connects directly to relational databases and other OLAP sources, and delivers data dynamically into Excel, the tool of choice for accounting and tax departments.

Red Moon Solutions is responding to a growing need among small to large global accounting and tax departments struggling to perform provisioning and compliance activities under limited resources, shrinking turnaround times and a greater expectation of transparency than ever before. The alliance will provide software and consulting services to enable tax departments to gain immediate benefits in better managing their tax lifecycle. The alliance combines the power/ease of use of PowerOLAP and the accounting and tax knowledge of Red Moon Solutions to create an affordable BI solution; which enables clients to access their data to solve planning and compliance needs. By offering PowerOLAP along with the consulting services, Red Moon Solutions can reduce regulatory and tax compliance risk as well as overall ETR.

Jim Shedivy, President of Red Moon Solutions states, “The synergy created by this alliance provides an affordably priced solution designed for those businesses that recognize the importance of leveraging business software as an integral component of their business strategy. PARIS is a leader in Planning, Reporting and Analysis Information Systems. We are a leader in financial and tax products/services, and are fortunate to partner with PARIS Technologies to offer corporate tax departments a robust, yet affordable, BI solution.” PowerOLAP leverages the tools and expertise an organization has to make real-time decisions. While many small, midsize and large global firms have invested in multiple software applications or in accounting and tax software solutions, many report that they lack the ability to access the detailed and consolidated real-time view of information they need to make critical decisions.

PowerOLAP provides finance, accounting and tax departments with high speed access to their detailed and summary data sourced from their financial and compliance systems. They are able to collect, analyze, model, slice and dice their data to support planning, compliance and audit tasks. Corporations are looking at this solution to streamline FIN 48 and quick provision turnaround, global and domestic data collection, FTC optimization, state apportionment, depletion and many other data and calculation intensive functions. With an Excel front-end in a multi-dimensional environment, end users can “own” this tool and add measurable value in weeks and months rather than years.

“We are truly delighted to make this announcement,” said PARIS Technologies International, Inc. President David F. Presti. “This affiliation will benefit all sectors of the business market. Small and midsize enterprises as well as the large/global business market segment will now have solutions that serve to optimize their technology investment and help them to achieve unprecedented productivity gains. We fully expect that the unparalleled breadth of PARIS’s and Red Moon’s capabilities will facilitate a pronounced change in tax processing rendering substantial operational efficiencies and cost savings for our customers.”

Additional synergy from the alliance comes from the fact that both Red Moon Solutions and PARIS Technologies are certified integration partners with SAP Business One, designed to connect dynamically to SAP Solutions for easy data consolidation and analysis. The Red Moon Solutions Fixed Assets Manager™ product tightly integrates accounting and tax books to calculate and track fixed and intangible assets for corporations. Instant access to better information means increases in revenues, profitability, and productivity. PARIS’s PowerAnalytics solution rapidly deploys to dynamically connect to the General Ledger of SAP Business One to automatically create cubes that produce consolidated multi-company reports in Microsoft® Excel and visually compelling Business Objects Xcelsius Dashboards. Red Moon Solutions and PARIS Technologies, together with SAP, are able to bring powerful enterprise software solutions to small and midsize organizations at a fraction of the cost of the larger providers.

Both solutions also integrate with other ERP and compliance systems, giving all departments the ability to connect real-time to the data they need, within the format they need. PowerOLAP not only provides immediate results in operating efficiency and real-time business decisions, but also comes with an affordable price tag. This affordably priced new solution is designed for those businesses that recognize the importance of leveraging business software as an integral component of their business strategy.

As a result of Red Moon Solutions entering into PARIS Technologies International’s Certified Partner Program, Red Moon Solutions will also be able to distribute not only PowerOLAP and PowerAnalytics for SAP Business One, but they will also be certified to implement PARIS’s premier PowerOLAP Professional Suite.

About Red Moon Solutions LLC

Red Moon Solutions LLC (RMS) takes pride in solving unique challenges for today’s tax department professionals. Founded by the former CIO and head of Tax Technology Enterprises for Andersen, LLP, RMS provides specialty tax and financial software products and services. Its solutions, Like-Kind Exchange Matching™ (LKEM), WorldPro™, and Fixed Assets Manager™ (FAM), were built to support the tax practice of one of the largest US accounting firms. FAM offers a way to track high volumes of assets, improve control, and ensure that financial and tax depreciation is up to date. PowerOLAP™, a cost effective business intelligence tool, is an exciting new addition to the RMS portfolio. RMS is an SAP-certified integration partner. For more information: www.redmoonsolutions.com

About PARIS Technologies International, Inc.

PARIS Technologies International, Inc. Doylestown, Pennsylvania USA is an intelligent solutions technology leader featuring advanced, intuitive and cost-effective OLAP and Business Intelligence technologies. PARIS’s solutions allow users to plan, analyze and report—online and in real time via Microsoft Excel and the Web— from enterprise and external data for business-critical applications, relationships and insight. For more information: www.paristech.com

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