Prophecy Home
Search Back to home

news & events

> press releases
> events
> newsletters
> register for events

Home > News and Events > Press Releases

Prophecy Signs Partnership with Computer Associates
Released 6 June 2000

Prophecy International has signed an agreement with Computer Associates in Australia to become a formal ISC partner. The two companies will run joint marketing activities to enhance their respective product sales and to gain new Vertical Application Partners for the Prophecy Framework product. This new partnership recognizes the unique nature of the Prophecy software offering, its market potential, and the long term relationship between Prophecy and Computer Associates. It is the intention of Prophecy to extend this relationship to each of its major overseas territories.

Prophecy International has, over the last few months, invested heavily in the expansion of its sales team in both the North American and European territories in particular, as well as locally in Australia and Asia. This expansion includes the creation of a dedicated salesforce aimed at finding new and strategic partner opportunities for the companys Framework Rapid Application Assembly software, as well as the building of a direct sales team to create customer opportunities.

Ed Reynolds says, Market feedback both in Australia and overseas reinforces the fact that Prophecy has developed world beating intellectual property. The Prophecy partner salesforce is targetting a number of the worlds leading information technology companies, with a view to concluding partnership deals that will result in an exponential increase in licence sales. Progress to date has been encouraging and Prophecy will continue to expand its sales activity in this high end sector even though ultimate rewards can take some time to mature.

Our core business growth is dependent on the middle tier market of Vertical Application Partners. Prophecy stands to earn licence revenue streams from frontend software developed by these partners using our Framework, revenue streams from sales of the ProphecyOpen software suite integrated as the backend accounting solution and revenue from the licencing of Framework direct to customers who wish to add to their standard package solution as supplied by our Vertical Application Partners.

With the expanded sales teams in the USA and UK now out of initial familiaization and training programs, a healthy pipeline of new prospective clients has been established. Current forecasts of year end revenues are in line with expectations.

However, in line with experiences of other software vendors such as SAP and Peoplesoft, the company has experienced a slow down in the closing of sales as customers focus on Y2K issues. The nature of the company's business is that of a smaller number of large value sales, and the company expects that half year revenue as a result of delayed sales will be below expectations.

The decision making process is expected to accelerate after the new year as businesses assess the impact of Y2K and free up expenditure budgets that are being held in reserve.


More information...

Press Releases

View our Events


copyright:disclaimer secure areas