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Prophecy Frames e-Foundation for the Future
Released 16 May 2001

Global software innovator Prophecy International has unveiled compelling world-first technology that can Internet-enable enterprise business systems.

The Australian multinational, which generates more than 75 per cent of its revenue from export earnings, reports that its Prophecy e-Foundation can break the cycle of cost and budget over-runs that traditionally dog complex software projects.

Using innovative object-oriented software design, Prophecy e-Foundation eliminates the labour-intensive, costly and error-prone process of cutting code by generating an application automatically based on pre-set business rules.
Prophecy e-Foundation can cut development times by as much as one quarter while the resulting applications deliver a 100 per cent fit to project requirements.

Prophecy International Chief Executive Officer Bruce Lakin said Prophecy e-Foundation also offered the ability to exceed customer requirements. "We can go beyond a 100 per cent fit because we can enhance the application on the fly, so the application can change as the business needs change," he said.

"Prophecy e-Foundation is faster because it generates applications, not code, so we reduce development time as much as 50 per cent. It is also cheaper because the system generates the application, lowering the cost of development. Further, because the application is developed on the move, maintenance costs after development is cheaper.

"Prophecy e-Foundation is ideal for enterprises that want to Internet-enable their business. This is a significant area of growth where the business drivers are companies that see the Internet as being a way to improve customer service and reduce costs by integrating the customer into enterprise business systems.

"That market in the next couple of years is enormous and Prophecy International can get a slice of it because we have the world's first rapid application assembly technology. At the moment, there's nothing else in the market that offers the features and the benefits of Prophecy e-Foundation. This is compelling technology."

Founded in 1980 and listed on the Australian Stock Exchange in 1998, Prophecy International (ASX: PRO) supports clients in locations ranging from South Africa, Romania and the Caribbean to the United Kingdom, North America and East Asia.

More than 850 Prophecy sites worldwide include the UK's largest inter-city coach company National Express, internationally renowned Rotary Watches, the State of Colorado, Bank of Barbados, Belize Telecommunications, electrical retail chain Teljoy Holdings in South Africa, the Manila Water Company, Sofia Water and a large number of educational institutions and local governments throughout Europe.

Prophecy software is widely used throughout Australia with clients including ANZ Banking Group, the South Australian Government and Fremantle Ports Authority.

Prophecy International has maintained a powerful pace of innovation throughout its history, building an international distribution network for its original Prophecy Financials software product during the 1990s.

During the latter part of that decade, Prophecy undertook a massive research and development program to create a product that would solve the problems of time and budget overruns that have dogged the software industry.

Concurrently, the impact of the Internet on enterprises worldwide created new business opportunities for Prophecy International to provide flexible yet proven gateways for enterprises that need to extend their business models to the Web.

Prophecy e-Foundation is Prophecy's customer-ready e-business solution that harnesses the power and flexibility of object-oriented software development to deliver unprecedented adaptability in a business solution. E-Foundation allows an enterprise to evolve its business systems unencumbered by inflexible legacy software.

Underlying e-Foundation is the Prophecy Framework, the rapid application assembly platform that can deliver productivity improvements, well in advance of conventional application development tools.

The first Framework application released was ProphecyOpen, a financial management suite that is now sold worldwide.
Prophecy International has also licensed Framework to third party software developers to create their own applications using the technology, generating new revenue streams for the company in the process.

By leveraging open Internet technologies including HTTP, XML, Java and pure Object-Oriented design, Prophecy e-Foundation eliminates complex programming requirements for standard and unique business processes such as logistics, e-Commerce and finance delivered via the Internet.

Prophecy e-Foundation increases the speed and lowers the cost of implementation by creating enterprise applications with "business objects" that are assembled, Lego-like, to reflect the business processes required by clients.

Utilising the Framework's rapid application assembly environment and seamless web-deployment through Prophecy's e-Portal and e-Tasks, Prophecy e-Foundation is a total front to back e-business solutions for large and middle market organisations.



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