QAD Helps Customers Prepare For Adoption Of International Financial Reporting Standards (IFRS))

Jan. 12, 2011 - PRLog -- QAD Inc. (NASDAQ- QADA, QADB), a leading provider of enterprise software and services for global manufacturers, announced today it has updated and extended its suite of online resources to reflect the latest developments in IFRS and US GAAP (Generally Accepted Accounting Principles) convergence and help customers plan for IFRS adoption. The online resources include two new, downloadable white papers: “Helping Global Manufacturing Companies Understand IFRS” and “Helping Global Manufacturing Companies Deploy IFRS”.

“Helping Global Manufacturing Companies Understand IFRS” is an introduction to IFRS – its background, the assumptions and principles that drive IFRS, international adoption, and the business areas impacted by IFRS.  

“Helping Global Manufacturing Companies Deploy IFRS” details the implementation considerations when planning for IFRS adoption using QAD Enterprise Applications.

“Transitioning to IFRS involves a broad range of actions addressing concerns around tax, valuation, treasury, legal, people, technology, and communications,” explains René Bergkamp, director of research & development for QAD’s financial suite. “We created these white papers to help guide companies in preparing and assessing the options and alternatives they should first consider and to ease into this process carefully and gradually.”

QAD continually monitors new developments in financial reporting and incorporates these emerging changes into its QAD Enterprise Applications suite. Some of the built-in functionality that helps ease the transition to IFRS includes parallel reporting, consolidation methodologies, configurable business rules, report writing, source systems integration and automated internal controls.

Additionally, QAD has created a standard business process assessment called IFRS Q-Scan that companies can employ to assess their current processes, capture business reporting requirements and map out the steps to implementing IFRS.

To learn more about IFRS and to download these new white papers, visit www.qad.com/IFRS.

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; and, the global political environment. In addition, revenue and earnings in the enterprise resource planning (ERP) software industry are subject to fluctuations. Software license revenue, in particular, is subject to variability with a significant proportion of revenue earned in the last month of each quarter. Given the high margins associated with license revenue, modest fluctuations can have a substantial impact on net income. Investors should not use any one quarter's results as a benchmark for future performance. For a more detailed description of the risk factors associated with the company and the industries in which it operates, please refer to the company's Annual Report on Form 10-K for fiscal 2010 ended January 31, 2010.

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Founded in 1979, QAD has been recognized as a leading provider of enterprise resource planning (ERP) software applications for global manufacturing companies. Today, QAD enterprise applications leverage advances in Internet and enabling technologies to 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.

QAD enterprise applications are focused and optimized for select manufacturing industry segments: automotive, consumer products, electronics, food and beverage, industrial and life sciences.