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
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
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
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
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
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
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.