Prophecy Opens Up Eastern Europe
Released 15 November 2000
Australian software multinational Prophecy International has dramatically
extended its penetration of the rapidly evolving Eastern European
software market through two major agreements.
Prophecy Europe has concluded an agreement to deploy its financial
software at Sofia Water, the privatised provider of drinking water,
water for industrial use, and drainage and water environment protection
in the capital city of Bulgaria.
Prophecy has also appointed the systems integration arm of the listed
Altec Group to distribute its e-Foundation software in Romania,
Bulgaria, Albania and Moldavia. Founded in 1985, the Altec Group,
listed on the Athens Stock Exchange, is an IT conglomerate with
1800 staff, US$250m turnover and US$50m profit.
The Altec company, Sysware, is also assisting with the translation
of Prophecy's software into Cyrillic, which further enhances its
prospects in Eastern Europe.
Prophecy International's e-Foundation suite of financial and enterprise
integration applications enable clients to rapidly design and deploy
robust enterprise-wide solutions that handle both traditional and
The announcement of these sales successes in Eastern Europe coincides
with strong performance for Prophecy in other regions, including
Asia Pacific and the Americas.
In Australia, Prophecy International recently announced it had signed
an agreement worth $4 million with ANZ Bank. The ANZ Asset Finance
group will use Prophecy's e-Foundation software to develop a new
generation of Internet-enabled applications for its finance and
In the US, Internet travel agency ByeByeNow.com is using the ProphecyOpen
software to manage finances for its integrated online and offline
Prophecy International executive director Mr. Alan Greig said Eastern
Europe was a natural progression for the company. "The economic
reconstruction of this region is requiring a lot of privatisation
and corporatisation, for which software is vital," he said.
"Although they previously used computers extensively, most
applications were built in-house, whereas now they are more open
to purchasing packaged applications.
"The flexibility of ProphecyOpen and its multi-language capability
means it is able to integrate with both existing legacy applications
and, further down the track, e-business systems that may be planned."
Sofia Water is also implementing Chrystal, a UK built Human Resource
application that was developed using Prophecy's e-Foundation software