QAD and Cforia Software Announce Partnership to Bring Automated A/R Services to Enterprise Customers
16 Settembre 2010 - 2:06PM
Business Wire
QAD Inc. (NASDAQ:QADI), a leading provider of enterprise
software and services for global manufacturers, and Cforia
Software, a credit, collections and deductions solutions provider,
today announced a complementary solutions partnership agreement to
offer automated accounts receivable (A/R) management functionality
to customers using QAD Enterprise Applications.
Given the economy, manufacturing companies continue to grapple
with slower than expected sales, declining customer credit and
decreased cash flow. To help counter this trend, QAD has partnered
with Cforia to bring added value to its QAD Enterprise
Applications, enabling customers to automate their A/R workflow
processes across multiple financial systems to improve collections,
transaction disputes and cash flow projection efficiencies.
“We’re pleased to partner with Cforia,” stated Craig McKay,
senior director of alliances for QAD. “With a decade of core
competency in developing enterprise solutions for cash flow
optimization, Cforia provides critical business functionality that
helps QAD customers improve performance and profitability.”
As an extension to a company’s enterprise resource planning
(ERP) system, Cforia’s Managing Credit & Collections (MC2)
family of products dramatically supplement customers’ accounts
receivable performance. By automating multiple sub-system processes
and segmenting receivables information into ‘clean’ (undisputed
collections) and ‘dirty’ (disputes and deductibles), A/R managers
can more easily identify credit risk and accurate cash forecasts
reducing days sales outstanding (DSO), headcount, bad debt and
deductions.
“Accounts receivable is a top strategic asset on a QAD
customer’s balance sheet,” said Chris Caparon, COO of Cforia.
“We’re pleased to become a formal partner, and to be in a position
to better help QAD customers.”
Cforia specializes in seamless, near real-time integrations
across multiple QAD and other A/R data sources for Shared Service
centers, business intelligence and financial reporting across all
divisions and ERP systems. Additionally, with multi-language and
multi-currency support, Cforia’s architecture works in conjunction
with QAD Enterprise Applications to provide global consolidated
reporting and analytic functionality with no additional IT
intervention. Cforia projects a three to six month return on
investment.
One QAD customer expressed multiple A/R challenges prior to
integrating Cforia with its QAD solution, most notably the need to
consolidate five different systems into one Shared Services center.
In the first six months of the Cforia implementation, the company
reported a 19% reduction in its Over 30 Days Past Due, and a 50%
reduction after one year.
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About Cforia Software
Founded in 2001, Cforia Software provides leading technology for
credit, collection, chargeback and cash application automation to
over 150 customers who use the platform to manage in excess of $120
billion net receivables value. Its architecture provides real-time
integration and consolidation of multiple ERP systems including
QAD, SAP, Oracle, MS Dynamics, Baan, PeopleSoft, JD Edwards, among
others. Multi-language and -currency support the largest Shared
Service Centers and Business Processing Outsourcing (BPO)
organizations while helping to meet their follow-the-sun
requirements. Automated Financial Management reporting and
dashboards provide real-time key performance indicators and enhance
cash forecast accuracy. Extremely easy-to-use functionality can be
driven within the finance department rather than having to rely
upon over burdened IT staff.
About QAD
QAD is a leading provider of enterprise applications for global
manufacturing companies specializing in automotive, consumer
products, electronics, food and beverage, industrial and life
science products. QAD applications provide critical functionality
for managing manufacturing resources and operations within and
beyond the enterprise, enabling global manufacturers to collaborate
with their customers, suppliers and partners to make and deliver
the right product, at the right cost and at the right time. For
more information about QAD, telephone +1 805-566-6000, or visit the
QAD web site at www.qad.com.
"QAD" is a registered trademark of QAD Inc. All other products
or company names herein may be trademarks of their respective
owners.
Note to Investors:
This press release contains certain forward-looking statements
made under the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. A number of risks and uncertainties
could cause actual results to differ materially from those in the
forward-looking statements. These risks include, but are not
limited to, evolving demand for the company's software products and
products that operate with the company's products; the company's
ability to sustain license and service demand; the company's
ability to leverage changes in technology; the company's ability to
sustain customer renewal rates at current levels; the publication
of opinions by industry and financial analysts about the company,
its products and technology; the reliability of estimates of
transaction and integration costs and benefits; the entry of new
competitors or new offerings by existing competitors and the
associated announcement of new products and technological advances
by them; delays in localizing the company's products for new or
existing markets; the ability to recruit and retain key personnel;
delays in sales as a result of lengthy sales cycles; changes in
operating expenses, pricing, timing of new product releases, the
method of product distribution or product mix; timely and effective
integration of newly acquired businesses; general economic
conditions; exchange rate fluctuations; and, the global political
environment. In addition, revenue and earnings in the enterprise
resource planning (ERP) software industry are subject to
fluctuations. Software license revenue, in particular, is subject
to variability with a significant proportion of revenue earned in
the last month of each quarter. Given the high margins associated
with license revenue, modest fluctuations can have a substantial
impact on net income. Investors should not use any one quarter's
results as a benchmark for future performance. For a more detailed
description of the risk factors associated with the company and the
industries in which it operates, please refer to the company's
Annual Report on Form 10-K for fiscal 2010 ended January 31,
2010.
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