Geac and Balanced Scorecard Collaborative announce Geac Strategy Management certification
LINCOLN, MA and SOUTHBOROUGH, MA, May 6, 2005 - Balanced Scorecard Collaborative, Inc. (BSCol), a Palladium company (http://www.bscol.com) and Geac(R) today announced that Geac Strategy Management software has been designated as Balanced Scorecard Collaborative Certified(TM). Under the terms of the certification, Geac Strategy Management - an innovative solution that aligns strategy with operational execution for all aspects of the organization - is designated as compliant with Balanced Scorecard Functional Standards as maintained by Balanced Scorecard Collaborative. Geac, its partners and customers will demonstrate how companies can use Strategy Management and the Balanced Scorecard methodology to improve corporate value at Geac's ALLIANCE2005 conference (http://alliance.geac.com/) in Orlando, May 8-11.
Strategy Management is a module of Geac MPC, which offers complete Business Performance Management capabilities, including strategic planning, budgeting, forecasting, financial consolidation and reporting functionality. It helps identify the precise measures that need to be taken in order to turn an organization's strategic goals into reality, as well as determine the key performance indicators that show if goals are being met.
Certification allows Geac to promote Strategy Management as certified by the creators of the Balanced Scorecard (BSC) and gives Geac the right to use the Balanced Scorecard Collaborative certification mark on Strategy Management and associated material. Further, the Balanced Scorecard Collaborative web site will identify Geac Strategy Management as certified software. The certification is designed to eliminate confusion in the marketplace through educating suppliers and buyers as to the important elements of a BSC management system.
"This certification represents Geac's commitment to the highest quality products that benefit our customers' long-term business performance solutions," said Tim Wright, Geac's Chief Technology Officer. "Since Balanced Scorecard is one of the most popular management methodologies in use today, we're pleased that Geac Strategy Management has attained recognition by the Balanced Scorecard Collaborative. This should give Geac customers and prospects great confidence in the integrity of our application, and the ease with which it can address key management issues, such as organizational strategic alignment and execution."
The BSC is an organizational framework for implementing and managing strategy at all levels of an enterprise by linking objectives, initiatives, and measures to an organization's strategy. The scorecard provides an enterprise view of an organization's overall performance by integrating financial measures with other key performance indicators around customer perspectives, internal business processes, and organizational growth, learning, and innovation. Since the concept was introduced in 1992, BSCs have been implemented at corporate, strategic business units, shared service functions, and even individual levels at hundreds of organizations - in both the private and public sectors - worldwide.
Dylan N. Miyake, vice president of Balanced Scorecard Collaborative, said, "Companies who have implemented BSC have demonstrated successful strategy execution and improved corporate value. We have developed the Balanced Scorecard Collaborative Certified Program based on BSC Functional Standards to ensure that the Balanced Scorecard name maintains meaning, and that any investment made in associated software retains its value. Users of certified BSC applications are assured that those applications are compliant with the Functional Standards, and can thus be used as the foundation of a strategic management system based on the BSC framework."
The certification process consists of a demonstration of the product by the application provider, a documentation review, customer interviews, and a Balanced Scorecard Collaborative lab test. Application providers certified as a result of this process have the right to use the Balanced Scorecard Collaborative Certified mark.
Balanced Scorecard Functional Standards were announced on September 30, 1999 by Balanced Scorecard Collaborative, Inc., the organization that facilitates the worldwide awareness, use, enhancement, and integrity of the Balanced Scorecard as a value-added management process. The standards form the basis for certifying software from suppliers seeking to comply with the methodology of Dr. Robert S. Kaplan and Dr. David P. Norton, creators of the Balanced Scorecard concept. The full set of standards can be viewed at http://www.bscol.com
About Balanced Scorecard Collaborative, Inc.
Balanced Scorecard Collaborative, Inc. (BSCol), a Palladium company, is an education, training, advisory, research, and development organization that facilitates the worldwide awareness, use, enhancement, and integrity of the Balanced Scorecard as a value-added management process. Founded and led by the creators of the Balanced Scorecard concept, Drs. Robert Kaplan and David Norton, BSCol provides to organizations and individuals a global center of Balanced Scorecard excellence and expertise. BSCol's web site is found at http://www.bscol.com.
Geac (TSX: GAC, NASDAQ:GEAC) is a global enterprise software company that addresses the needs of the Chief Financial Officer. Geac's best-in-class technology products and services help organizations do more with less in an increasingly competitive environment, amidst growing regulatory pressure, and in response to other business issues confronting the CFO. Further information is available at http://www.geac.com or through e-mail at email@example.com.
This press release may contain forward-looking statements of Geac's intentions, beliefs, expectations and predictions for the future. These forward-looking statements often include use of the future tense with words such as "will," "may," "intends," "anticipates," "expects" and similar conditional or forward-looking words and phrases. These forward-looking statements are neither promises nor guarantees. They are only predictions that are subject to risks and uncertainties, and they may differ materially from actual future events or results. Geac undertakes no obligation to update or revise the information contained herein. Important factors that could cause a material difference between these forward-looking statements and actual events include, among other things: our ability to increase revenues from new license sales, cross-sell into our existing customer base and reduce customer attrition; whether we can identify and acquire synergistic businesses and, if so, whether we can successfully integrate them into our existing operations; whether we are able to deliver products and services within required time frames and budgets to meet increasingly competitive customer demands and performance guaranties; risks inherent in fluctuating international currency exchange rates in light of our global operations and the unpredictable effect of geopolitical world and local events; whether we are successful in our continued efforts to manage expenses effectively and maintain profitability; our ability to achieve revenue from products and services that are under development; the uncertain effect of the competitive environment in which we operate and resulting pricing pressures; and whether the anticipated effects and results of our new product offerings and successful product implementation will be realized. These and other potential risks and uncertainties that relate to Geac's business and operations are summarized in more detail from time to time in our filings with the United States Securities and Exchange Commission and with the Canadian Securities Administrators. Please refer to Geac's most recent quarterly reports available through the website maintained by the SEC at http://www.sec.gov and through the website maintained by the Canadian Securities Administrators and the Canadian Depository for Securities Limited at http://www.sedar.com for more information on risk factors that could cause actual results to differ. Geac is a registered trademark of Geac Computer Corporation Limited. All other marks are trademarks of their respective owners.
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