MARKHAM & STUDLEY, July 26 -- CNW/AsiaNet
Fortis, a European top 20 banking, insurance and investments group, has
awarded a contract to Allshare, the distributor in the Netherlands for Geac(R)
(TSX: GAC, NASDAQ:GEAC), for Geac Performance Management software and related
implementation services. The scheduled "go live" date for the first phase of
implementation of the Geac software is mid-August 2004.
Fortis, which has a market capitalisation of (euro) 23 billion and more
than 50,000 employees, chose Geac because of the integrated nature of its MPC
software for planning, budgeting, forecasting, consolidation, reporting,
analysis and strategy management. Fortis has been a long time customer of Geac
SmartStream financial software, which is in use throughout significant parts of
the organisation. Fortis also recognised the personal and professional skills
of the Allshare employees, who are currently undertaking the implementation.
Once fully deployed in 2004, MPC - running on Microsoft SQL Server - will
provide the group with a true global system supporting both the businesses and
the operating companies. The first phase will go live in August and will
support the Fortis target setting process.
Alexander Carp, director of process management at Fortis, said:
"To date our budgeting process has been primarily spreadsheet-based. The
follow-up of the process has been very time-consuming, especially as it has had
to cover all of our businesses and operating units, following numerous recent
acquisitions. Our initial focus is to have a new global budgeting solution in
place, which can support 1,000 worldwide users. This new budgeting process will
be better linked to our business strategy as it will be able to incorporate a
'top down-approach' assisted by 'bottom-up' detailed submissions. So
implementing Geac Performance Management helps Fortis to move towards a more
uniform global approach which allows for big improvements in quality, speed and
transparency."
"We are pleased that a long standing Geac customer has chosen to expand
their reliance on Geac software into a new aspect of their business," said Jon
Brooks, Managing Director of Geac Performance Management European and Asia
Pacific operations. "It's testimony to the inherent value of our MPC software
and to the confidence and relationship we build with our customers over time.
Furthermore, the financial services industry is an area of strength for Geac -
more than 40 of the world's largest banks use Geac financial software - so
Fortis is in good company."
This and other recent customer successes have not changed the seasonal
nature of Geac's business revenue where first quarter results have been
historically the lowest. The marketplace for Geac's products and services
remains intensely challenging.
About Geac
Geac (TSX: GAC, NASDAQ:GEAC) is a global enterprise software company for
Business Performance Management, providing customers worldwide with the core
financial and operational solutions and services to improve their business
performance in real time. Further information is available at
http://www.geac.com or through e-mail at info(at)geac.com.
This press release may contain forward-looking statements based on current
expectations. Important factors that could cause a material difference between
these forward-looking statements and actual events include those set forth
under the heading "Risk Factors" in Geac's annual report on Form 20-F, No.
333-103019, for the fiscal year ended April 30, 2003, filed on October 31, 2003
with the United States Securities and Exchange Commission available through the
website maintained by the SEC at www.sec.gov http://www.sec.gov/, and filed on
November 3, 2003 with the Canadian Securities Administrators and available
through the website maintained by the Canadian Securities Administrators and
the Canadian Depository for Securities Limited at www.sedar.com
http://www.sedar.com/. Geac is a registered trademark of Geac Computer
Corporation Limited. All other marks are trademarks of their respective owners.
SOURCE: Geac Computer Corporation Limited
CONTACT: Media Contacts-Europe:
Richard Moore
Geac
+44 (0)1527 496189
richard.moore(at)geac.com
Alastair Middleton
Geac
+44 (0) 1527 496200
alastair.middleton(at)geac.com
Media Contact-North America:
Laura Hindermann
Geac
+1-508-871-5045
laura.hindermann(at)geac.com
Investor Contact:
Alys Scott
Geac
+1-508-871-5854
alys.scott(at)geac.com
--Distributed by AsiaNet (www.asianetnews.net)--
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