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Follow on Google News |  QAD And Cforia Software Announce Partnership To Bring Automated A/r Services To Enterprise CustomersCforia Credit, Collections and Deductions Suite Helps QAD Customers Improve Cash Flow and Earning Potential
Given the economy, manufacturing companies continue to grapple with slower than expected sales, declining customer credit and decreased cash flow. To help counter this trend, QAD has partnered wtih Cforia to bring added value to its QAD Enterprise Applications, enabling customers to automate their A/R workflow processes across multiple financial systems to improve collections, transaction disputes and cash flow projection efficiencies. “We’re pleased to partner with Cforia,” stated Craig McKay, senior director of alliances for QAD. “With a decade of core competency in developing enterprise solutions for cash flow optimization, Cforia provides critical business functionality that helps QAD customers improve performance and profitability.” As an extension to a company’s enterprise resource planning (ERP) system, Cforia’s Managing Credit & Collections (MC2) family of products dramatically supplement customers’ accounts receivable performance. By automating multiple sub-system processes and segmenting receivables information into ‘clean’ (undisputed collections) “Accounts receivable is a top strategic asset on a QAD customer’s balance sheet,” said Chris Caparon, COO of Cforia. “We’re pleased to become a formal partner, and to be in a position to better help QAD customers.” Cforia specializes in seamless, near real-time integrations across multiple QAD and other A/R data sources for Shared Service centers, business intelligence and financial reporting across all divisions and ERP systems. Additionally, with multi-language and multi-currency support, Cforia’s architecture works in conjunction with QAD Enterprise Applications to provide global consolidated reporting and analytic functionality with no additional IT intervention. Cforia projects a three to six month return on investment. One QAD customer expressed multiple A/R challenges prior to integrating Cforia with its QAD solution, most notably the need to consolidate five different systems into one Shared Services center. In the first six months of the Cforia implementation, the company reported a 19% reduction in its Over 30 Days Past Due, and a 50% reduction after one year. About Cforia Software Founded in 2001, Cforia Software provides leading technology for credit, collection, chargeback and cash application automation to over 150 customers who use the platform to manage in excess of $120 billion net receivables value. Its architecture provides real-time integration and consolidation of multiple ERP systems including QAD, SAP, Oracle, MS Dynamics, Baan, PeopleSoft, JD Edwards, among others. Multi-language and -currency support the largest Shared Service Centers and Business Processing Outsourcing (BPO) organizations while helping to meet their follow-the-sun requirements. Automated Financial Management reporting and dashboards provides real-time key performance indicators and enhance cash forecast accuracy. Extremely easy-to-use functionality can be driven within the finance department rather than having to rely upon over burdened IT staff About QAD QAD is a leading provider of enterprise applications for global manufacturing companies specializing in automotive, consumer products, electronics, food and beverage, industrial and life science products. QAD applications provide critical functionality for managing manufacturing resources and operations within and beyond the enterprise, enabling global manufacturers to collaborate with their customers, suppliers and partners to make and deliver the right product, at the right cost and at the right time. For more information about QAD, telephone +1 805-566-6000, or visit the QAD web site at www.qad.com. "QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners. Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to, evolving demand for the company's software products and products that operate with the company's products; the company's ability to sustain license and service demand; the company's ability to leverage changes in technology; the company's ability to sustain customer renewal rates at current levels; the publication of opinions by industry and financial analysts about the company, its products and technology; the reliability of estimates of transaction and integration costs and benefits; the entry of new competitors or new offerings by existing competitors and the associated announcement of new products and technological advances by them; delays in localizing the company's products for new or existing markets; the ability to recruit and retain key personnel; delays in sales as a result of lengthy sales cycles; changes in operating expenses, pricing, timing of new product releases, the method of product distribution or product mix; timely and effective integration of newly acquired businesses; general economic conditions; exchange rate fluctuations; # # # Founded in 1979 QAD has been recognized as a leading provider of enterprise resource planning (ERP) software applications for global manufacturing companies. 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