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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (15764)	5/15/2001 8:28:26 AM
From: JakeStraw	Read Replies (2) \| Respond to of 19079

NATO Standardizes on Oracle E-Business Suite Across 19 Headquarters biz.yahoo.com Over 700 Users in 12 Countries to Use Integrated Financials and iProcurement REDWOOD SHORES, Calif., May 15 /PRNewswire/ -- (http://www.oracle.com/tellmemore/?714597) Oracle Corporation (Nasdaq: ORCL - news), the largest provider of software for e-business, and NATO today announced that they have begun to implement the Oracle® E-Business Suite in 19 NATO Headquarters across 12 different countries. Oracle Consulting and Support Services will implement the new NATO Automated Financial System (NAFS), while Oracle University will deliver a comprehensive training program to the 700-plus users of the new system. The NAFS system is a NATO-wide Financial and Procurement solution, which fully integrates budgeting, budget execution, travel, treasury, disbursing, procurement and supply functionality, with the ability to provide analytical and statistical capabilities, and to capture required audit data to meet the NATO security requirements Migration to NAFS will allow NATO to reduce paper flow considerably, by streamlining procurement and travel activities. Ultimately NATO employees will be able to make their own requisitions and travel requests. At financial management level, the organization will have global cash forecast, allowing the funds provided by the NATO nations to be used more efficiently. ``NATO is looking ahead to the adoption of international public sector accounting standards (ISPSAS) and, in parallel, to modernizing its accounting practices and procedures,'' said Mr. David Oakley, NATO Program Director. ``The implementation of the Oracle E-Business Suite will provide NATO with the mechanism by which we can meet these goals and will enable the development of more meaningful and timely management information. I see the successful implementation of NAFS as a challenge, but I am confident that together with Oracle we can ultimately provide a modern standardised system operating NATO-wide.'' ``Financial efficiency and accountability are the watchwords of any public organization, and NATO is no exception,'' said Juan Rada, senior vice president, Oracle Industries Europe, Middle East and Africa. ``With Oracle's integrated financials and procurement applications, NATO will gain a single system that automates financial operations and enables a sophisticated level of reporting and forecasting, helping to reduce administrative costs and enabling financial transparency across the entire organization.'' About Oracle Oracle provides the software that powers the Internet. For more information, please call 650-506-7000.