Canopy's Demise Came At The Worst Time
This is open enrollment season for healthcare plans, and Canopy's customers are scrambling to find a replacement for Canopy's software to get them through it, according to Red Gillen, an analyst at Celent who follows the banking industry. Canopy's customers had been very happy with the software until reports broke last week that Canopy had falsified financial statements, Gillen said. They're telling him they did their due diligence on Canopy and -- like a lot of other people, apparently -- were taken by surprise. In a report published in January, another Celent analyst, Bart Narter, rated Canopy's technology as the best in the industry -- better than several older, larger competitors' -- and he said today he stands by that recommendation.
1 December 2009•2 mins read
