Smiths Group invests in Geac MPC
LONDON, U.K., June 15th, 2005 ' Geac® (TSX:GAC and NASDAQ:GEAC), a global enterprise software company that addresses the needs of the Chief Financial Officer, has signed up Smiths Group (LSE: SMIN), the specialist engineering group which has market leading positions in Aerospace Systems, Detection Systems, Medical Devices, Mechanical Seals and Interconnect products, as a new customer for the Geac MPC performance management software suite. The Geac solution is expected to go live at Smiths Group following a phased implementation over the next eight months.
Smiths Group, which has a market capitalisation of approximately £4.7bn, plans to implement Geac MPC's Financial Consolidation, Forecasting, and Reporting and Analysis modules across all four divisions globally; MPC's Strategy Management, Planning and Budgeting functionality will be available as added benefits to the four operating divisions. The Geac browser-based solution will form the backbone of Smiths Group's reporting needs. It will provide a single repository of financial results to provide a global view of the operation as a whole, removing the need for disparate reporting solutions. Geac MPC will run on Microsoft SQL Server, which is cost effective and complements the usability of MPC.
Smiths Group selected Geac MPC based on the quality and functionality of the product. In particular, Smiths Group was impressed with its ability to provide divisions with extra functionality to plot the actions of their operating units and individuals, thus improving communications and understanding of strategic success across the enterprise. Smiths Group Financial Systems Manager, John Williams, said:
'When our existing Hyperion solution could no longer adapt to the way Smiths' businesses are managed, it became clear that we needed a new approach and we decided to see what else was available. Geac MPC was the only solution on the market that appears to have been developed organically and not 'bolted together' and this showed in its rich functionality. This, combined with the professionalism of the Geac team, instilled us with confidence in the solution.'