Summit Auto drives business performance with Geac
STUDLEY, U.K. December 17th 2004 ' Summit Auto Group, a leading UK motor dealership, has selected Geac FDC, a financial consolidation software solution from Geac® (TSX:GAC and NASDAQ:GEAC). Established in 1994, Summit Auto is a £250million a year business operating through 15 franchised dealerships across the South East of England, selling a range of vehicles from Jaguar, Aston Martin, Ford, Audi and Honda. Geac FDC was selected to enable Summit Auto to better meet its month-end consolidation and year-end statutory reporting needs and to provide the group with both an individual dealership and consolidated group financial picture.
Operating through a decentralised set-up, each dealership operates autonomously with its own accounts team which reports into a central finance department situated at the company's head office. Geac FDC uses a distributed application architecture so each dealership will now be able to have its own Pervasive SQL Server database for local data ownership and maximum flexibility. Within each site, all data will be stored in a secure, central relational database, eliminating errors caused by data duplication and transfer. This will provide the head office finance team with the ability to highlight emerging and existing business trends by comparing and tracking performance consistently and accurately against each of the 15 sites.
Alan Knights, Group Financial Controller (Operations), at Summit Auto commented:
'In response to a request from our new Chief Executive for an enhanced financial reporting system which coupled standard management accounts with trend information, I automatically thought of Geac FDC. Having used the application with a previous employer, I knew that the Geac solution could not only meet our financial reporting requirements but could provide the type of valuable information that the Chief Executive required.
'Replacing a spreadsheet-based system, Geac FDC will give us the ability to compare the performance of each of the 15 operations, providing both an individual and consolidated financial view. We expect to see substantial business performance enhancements once the FDC system is up and running and it will become integral to our future budgeting and forecasting decisions.'