Prophecy Gets Good Oil with ME Ally
Released 11 April 2000
Soaring oil prices are good news for ASX-listed software multinational
Prophecy International which expects a significant boost to sales
from a recent Middle Eastern partnership with Al Yousuf Universal.
As a strategic Business Partner, Al Yousuf Universal, the leading
e-business solutions provider in the Middle East, will represent
Prophecy throughout the Arab region, covering countries including
the Gulf Emirates, Saudi Arabia, Kuwait and Sri Lanka.
Al Yousuf Universal and Prophecy will work together to "Arabise"
Prophecy's enterprise software solutions to meet the needs of local
institutional and corporate customers in the utilities sector. The
massive increase in oil prices during the past year means major
expenditure on utilities infrastructure is proceeding in the region.
Prophecy International Chief Executive Ed Reynolds said the agreement
was significant because it provided a prominent and proven partner
in the region.
"This partnership gives us representation at the highest level
with one of the most successful and diverse group of companies in
the region," he said.
Al Yousuf's participation in Prophecy's global reseller network
is the latest recognition of Prophecy's international appeal. Last
month Hong Kong Shanghai Bank announced it had joined the Prophecy
share register with a holding of more than five per cent.
"Prophecy presents the next level of technology which other
companies are striving to achieve," said Atif Yusuf, general
manager of Al Yousuf Universal, at the signing ceremony that sealed
the partnership, "It currently offers the only ERP solution
in the world that is object-oriented. In real terms, this allows
Prophecy to run highly efficient and sophisticated solutions faster
and at a fraction of the cost."
Prophecy is the world leader as a provider of software solutions
that allow utilities companies to web-enable their services, both
internally and to their customers. Prophecy has a client base covering
24 countries. More than 10 million consumers worldwide are being
serviced using Prophecy solutions.