Extended Financial Management Launched
SunSystems eXFM launched; provides mid-market companies with significantly greater financial insight
~ Unique combination of financial, reporting, budgeting and forecasting functionality ~
CFO IT VALUE, San Francisco, CA – September 27, 2004: Global software company Systems Union Group plc today launched SunSystems exfm (extended financial management), a unique, fully integrated software solution that combines the power of financial management and business intelligence.
The new software solution is targeted at mid-market companies worldwide giving them a comprehensive spectrum of sophisticated functionality that was previously available only to large enterprises at a high cost. With SunSystems exfm, organizations will be able to improve the efficiency of their financial processes, analyze financial data in real-time to better understand how the business is performing and alleviate the pain of budgeting and forecasting activities.
Accessing the right information held in computer systems is vital for the efficient strategic management of an organization, irrespective of size. SunSystems exfm addresses this. With real-time reporting, it can drill down to individual transactions to identify potential problem areas such as bad debts, credit limit overruns or rising debtor days. For many companies, the budgeting process will be eased considerably by using SunSystems exfm in place of the traditionally, and still widely used, spreadsheet based procedures. And the accuracy of forecasting for future planning will be greatly enhanced using its modeling capabilities. These aspects combined with other functionality in SunSystems exfm – such as sharing information across the Internet – means that executives will have a real insight into the financial health and direction of their businesses.
Paul Coleman, chief executive officer of Systems Union Group plc, author of SunSystems, said: “The launch of SunSystems exfm is very significant as it is the only fully-integrated financial management, reporting, budgeting and forecasting application available globally for the mid-market from one software vendor. As a result, users will be able to focus on improving the efficiency and effectiveness of their activities and deliver greater value to the business.”
The finance function of all organizations today is under much pressure to perform with an increased focus on transparency, consistency and timeliness. As a result of the shift of emphasis from transactional activities to performance management – combined with corporate governance issues and the requirements of Sarbanes-Oxley, IFRS and more – CFOs are looking for even greater performance from their financial management software solutions.
“Regulations by stock markets, industry regulators and governments for improved corporate governance are a key challenge for executive management today,” said Lee Geishecker, research VP of leading industry analyst Gartner. “Coupled with the fact that traditional budgeting processes are slow, expensive and disconnected from what drives the business, CFOs should review the systems and processes they use to manage corporate performance.”
In response to this evolving landscape, SunSystems exfm – extended financial management – has been launched backed by global support. SunSystems software solutions are already used by 45 of the 50 largest corporations in the world, and SunSystems exfm will provide a low risk option with a low total-cost-of-ownership to all sized organizations and subsidiaries in the mid-market.
SunSystems exfm consists of four integrated elements:
* SunSystems Financials: powerful financial management functionality centered on real-time unified ledger architecture
* SunSystems Vision: real-time ad-hoc query and analysis
* SunSystems Budgeting & Forecasting: sophisticated budgeting and planning capabilities and performance management with ‘what if’ forecasting capabilities to predict the impact of changing business conditions
* SunSystems Application Portal: role-based access via the Internet
The SunSystems exfm solution is also fully extendable and, by using the SunSystems Connect integration tool, customers can further enhance it with other products, such as SunSystems PSA for project specific accounting; SunSystems Payroll; SunSystems Collect for enhanced debtor management, as well as other third party enterprise applications.
Note to editors:
SunSystems is a key product range of the Systems Union Group plc, which is quoted on the Alternative Investment Market (AIM) of the London Stock Exchange. The company is one of the largest business software houses in the world, with 45 offices and channel partners in 73 countries serving customer sites around the globe.
Products within the SunSystems range are available in 30 languages with over 18,000 customer sites in some 194 countries. The software solutions are used extensively by multinationals, whose offices worldwide require an international product with global support infrastructure.
Customers include 45 of the 50 largest corporations in the world, 75 of the FTSE100, one quarter of the Fortune 500, and leading names such as Hilton International, Pfizer, Willis Insurance and BP.
Doug Shirra, Director of Marketing, Americas, Systems Union Inc.
416-644-5555 [email protected]