latinum Software Corp. last week unveiled Platinum SQL
4.1, the latest version of its client-server financial applications for mid-market companies. The vendor also announced plans to acquire privately held Clientele Software Inc., a $4 million provider of customer management software. The deal, valued at approximately $11 million, should help Platinum expand beyond its core financial apps.
"The linchpin of our growth strategy is acquisitions," says Bill Pieser, a senior VP at Platinum, in Irvine, Calif. "We plan on putting together a comprehensive software suite with sales force automation and ERP (enterprise resource planning) functionality." Key to that suite is Platinum SQL 4.1, which features global functionality such as multicurrency reporting and support for the Euro, the future common currency of the European Community. Previous versions of the financial software could handle only one type of currency at a time.
Platinum SQL 4.1 will make financial reporting more timely for Orcad Inc., a $20 million software development firm in Beaverton, Ore.,
which plans to upgrade to the release. Orcad has an office in Japan and spends about a week each month translating the financial statements for the Japanese subsidiary and consolidating them into its main general ledger. With the upgrade, the process should take less than a day.
"The biggest benefit is the ease of reporting," says Shelby Root, a database analyst at Orcad. "We'll be able to set up a Japanese ledger and run yen and dollars in that same ledger."
Platinum SQL 4.1 supports Windows NT and Unix platforms and includes more than a dozen modules. Pricing is about $15,000 per module.
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latinum Software Corp. last week unveiled Platinum SQL
4.1, the latest version of its client-server financial applications for mid-market companies. The vendor also announced plans to acquire privately held Clientele Software Inc., a $4 million provider of customer management software. The deal, valued at approximately $11 million, should help Platinum expand beyond its core financial apps.
