e-Foundation Creates New Prophecy
Released 13 December 2000
Australian software multinational Prophecy International (ASX:PRO)
has revealed that most of its revenues now come from providing its
e-Foundation e-commerce infrastructure for companies.
The company's breakthrough Rapid Application Assembly technology
has unlocked entirely new markets for its products, both in Australia
In the 1999-2000 financial year, some 80 per cent of its sales revenues
came from either licensing of Prophecy's e-Foundation e-commerce
business solutions infrastructure or from associated services. In
past years, the company had generated virtually 100 per cent of
its revenues from sales of its Prophecy Financials software, now
Prophecy e-Foundation provides tailored e-commerce and back office
solutions to dynamic growing enterprises through innovative object
technologies. Clients include ANZ Bank and the South Australian
Government in Australia, State of Colorado in the US, Barclays Bank
in Barbados and Sofia Water in Bulgaria.
In line with its new emphasis on its e-Foundation products, Prophecy
has commenced a major global marketing drive to build awareness
of its new capabilities and has extended its executive management
responsibilities to deliver this new message.
Executive director Alan Greig has taken responsibility for Global
Marketing and Asia-Pacific sales while Luke McCauley has joined
Prophecy as its Australasian Sales Director. Lawyer Paul Blewett
has also joined the company as Group Legal Counsel, taking over
responsibilities from co-founder Brian Calvert who has retired,
moving to a non-executive directorship with the company.
Mr. Greig said Prophecy's new markets included telecommunications,
banking and finance, insurance and defence industries. "e-Foundation
has changed the fundamental nature of our business," he said.
"Whereas we started out selling just financial packages to
large enterprises, these days we provide technology, tools, applications
and services to broader markets.
"e-Foundation is about e-commerce enabling enterprises to deploy
front-to-back solutions that are designed either from the ground
up or to incorporate existing legacy information systems."
Prophecy's push for profile will see it taking a stronger "corporate
citizen" role locally and overseas and particularly extending
its sales presence in the US market.