News story:
Monday January 11, 7:30 am Eastern Time
Company Press Release
Government of Barbados Successfully Implements Geac's SmartStream Financials Applications
-- Geac's Software Maximizes Government's Control Of Administrative Processes and Increases Operational Efficiency --
ATLANTA, Ga.--(BUSINESS WIRE)--Jan. 11, 1999-- Building on its strong presence in the public sector market, Geac SmartEnterprise Solutions today announced that the government of Barbados has successfully implemented its SmartStream Financials applications. As part of a complete systems overhaul, the government selected Geac's SmartStream client/server solutions to effectively manage its high-volume financial activity. A government that traditionally managed administrative processes using a virtually manual system, Barbados' use of Geac's SmartStream has enabled it to more tightly manage and expedite its financial processes. In addition, based on its success using Geac's financial applications, the government will be implementing Geac's SmartStream Human Resources suite early this year.
''In order to operate more efficiently and gain greater control over our processes, it was essential that we migrate to a client/server environment and implement software that could support our financial activity,'' said Margaret Sivers, project manager, Public Expenditure Management Project, Government of Barbados. ''After an evaluation of the software offered by several vendors, we selected Geac's SmartStream. Based on the company's proven track record of success in the public sector, including many of the Caribbean islands, SmartStream's flexibility, and advanced workflow capabilities, it was clear that Geac was most qualified to meet our needs. In addition, we felt that Geac's Funds Control module would play an important role as part of our financial management system, by effectively keeping our availability of funds in check.''
''We have already realized significant benefits using SmartStream Financials, and are confident that among other things, SmartStream's HR applications will offer us the advanced functionality we need to manage payroll for over 30,000 employees,'' added Sivers.
Prior to implementing SmartStream, the government's virtually manual system offered minimal control over financial information, as it was difficult to identify what the government's liabilities were at any given time. For example, without an automated centralized system, the government struggled to track each ministries expenses and purchase orders were often going unrecorded. Using SmartStream's Funds Control application, the government now efficiently records commitments and allocations electronically, automatically restricting expenditures, and safeguarding against overspenditures.
''Geac's success in the Caribbean provides further evidence of our strength in the public sector market,'' said Colleen Niven, vice president of worldwide marketing for Geac SmartEnterprise Solutions. ''We are committed to delivering flexible and scalable technology that enables public organizations to more effectively manage their administrative processes. Using SmartStream, organizations can significantly cut operating costs and gain greater control over their financial, procurement, and human resources activities, while realizing a significant return on their investment. With 30 years of experience developing solutions specifically designed to meet the needs of service-oriented industries, Geac is uniquely qualified to provide superior enterprise solutions for the public sector market.''
About Geac
Geac SmartEnterprise Solutions, a division of Geac Computer Corporation Ltd., provides advanced financial, procurement, human resources, reconciliations and reporting analysis systems to mid to large size enterprises looking to streamline business processes and enhance information access within their enterprise. The division was recently formed as a result of Geac bringing the SmartStream client/server division and the EnterpriseServer mainframe division together to offer customers a cohesive enterprise-wide solution.
Founded in 1971, Geac is a provider of mission critical enterprise applications, supplying industry specific software to ten vertical markets as well as cross industry administrative applications comprised of financial, human resources and materials management software. Headquartered in Markham, Canada, Geac has more than 90 offices in 16 countries and serves customers in more than 40 countries worldwide. Geac product and service information is available on the World Wide Web at geac.com, or through email at info@geac.com. Geac is a publicly traded company with its common shares listed on the Toronto Stock Exchange (Symbol:GAC).
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