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Geac Launches Enhanced Version of Geac Compliance Management Software
12 May 2005
At Geac ALLIANCE2005 - Geac® (TSX:GAC, NASDAQ:GEAC) today launched a new version of its Geac Compliance Management software, which builds upon the product's core strength in business process automation by adding major new functionality in the areas of reporting and analytics, ease of use and system integration. Geac Compliance Management 2.1 is a complete, end-to-end compliance solution - encompassing documentation, testing and sign-off, reporting and executive dashboards, and process automation for compliance procedures and remediation - built on a process management platform and industry-standard technologies. It is easy to configure and integrate into existing IT infrastructure, since Geac's software allows users to integrate data from any back-office transaction system.
With its process management foundation, based on the Lombardi TeamWorks engine, Geac Compliance Management 2.1 is well suited to the needs and priorities of today's market. In an AMR Research "Outlook" published last month, entitled, "SOX Compliance - It's All About the Business Process," analyst John Hagerty wrote: "Process documentation and management remain a key investment area for business users in 2005.... Although there is no panacea, process management - whatever form it may take - is an absolute essential part of any Year One or Year Two SOX compliance program."
Geac Compliance Management was developed from the premise that the right technology can help turn a costly obligation - compliance with regulatory and legislative imperatives such as SOX, IFRS, Basel II, HIPAA and others - into a significant opportunity to improve key business processes. "Given the amount of money companies are projected to spend on technology for Sarbanes-Oxley compliance alone in 2005 - more than $1.6 billion, according AMR Research - it behooves every organization to derive as much lasting business value as possible," said Isobel Harris, Vice President and General Manager, Geac Enterprise Solutions. "In other words, our goal with Geac Compliance Management is to help companies transform their SOX technology spending into a demonstrable investment. We do that by providing a software solution that gives users the means to effect lasting, positive changes to their business operations that drive efficiencies and cost savings, as well as remediate SOX and other compliance issues."
Geac Compliance Management delivers functionality for documentation, testing and sign-off, and process automation for compliance procedures and remediation. In addition, it offers executive dashboard and robust reporting capabilities. The new release adds several enhanced documentation features -- including search, cascade deletes, batch load of attachments, and sign-off requirements changes - which provide users with greater flexibility. In addition, Geac Compliance Management 2.1 offers integration with ImageTag's paper-to-digital document imaging system, as well as enhanced security and workflow control testing and sign-off features. To facilitate implementation, Geac provides "solution accelerators" for Geac Compliance Management, including several out-of-the-box business process templates and integrations with Geac transaction systems.
Geac's solution is designed to help companies save time, reduce effort, and streamline and control processes to improve an organization's compliance efforts and its business performance. Over time, Geac Compliance Management could also help a company negotiate - from a position of strength - more favorable audit and consulting fees as it demonstrates consistent control over its financial and other business processes.
Geac Compliance Management 2.1 is available worldwide. Pricing varies depending upon configuration. Additional product information is available at http://www.geac.com/object/compliancelink_CORP.html.
About Geac
Geac (TSX: GAC, NASDAQ:GEAC) is a global enterprise software company that addresses the needs of the Chief Financial Officer. Geac's best-in-class technology products and services help organizations do more with less in an increasingly competitive environment, amidst growing regulatory pressure, and in response to other business issues confronting the CFO. Further information is available at http://www.geac.com or through e-mail at info@geac.com.
This press release may contain forward-looking statements of Geac's intentions, beliefs, expectations and predictions for the future. These forward-looking statements often include use of the future tense with words such as "will," "may," "intends," "anticipates," "expects" and similar conditional or forward-looking words and phrases. These forward-looking statements are neither promises nor guarantees. They are only predictions that are subject to risks and uncertainties, and they may differ materially from actual future events or results. Geac undertakes no obligation to update or revise the information contained herein. Important factors that could cause a material difference between these forward-looking statements and actual events include, among other things: our ability to increase revenues from new license sales, cross-sell into our existing customer base and reduce customer attrition; whether we can identify and acquire synergistic businesses and, if so, whether we can successfully integrate them into our existing operations; whether we are able to deliver products and services within required time frames and budgets to meet increasingly competitive customer demands and performance guaranties; risks inherent in fluctuating international currency exchange rates in light of our global operations and the unpredictable effect of geopolitical world and local events; whether we are successful in our continued efforts to manage expenses effectively and maintain profitability; our ability to achieve revenue from products and services that are under development; the uncertain effect of the competitive environment in which we operate and resulting pricing pressures; and whether the anticipated effects and results of our new product offerings and successful product implementation will be realized. These and other potential risks and uncertainties that relate to Geac's business and operations are summarized in more detail from time to time in our filings with the United States Securities and Exchange Commission and with the Canadian Securities Administrators. Please refer to Geac's most recent quarterly reports available through the website maintained by the SEC at www.sec.gov and through the website maintained by the Canadian Securities Administrators and the Canadian Depository for Securities Limited at www.sedar.com for more information on risk factors that could cause actual results to differ. Geac is a registered trademark of Geac Computer Corporation Limited. All other marks are trademarks of their respective owners.
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Source: Geac Computer Corporation Limited
Source: PR Newswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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