Cummins Selects Global Software for New Client/Server Accounts Receivable System; Universal Accounts Receivable will be implemented in both U.S. and Europe to support international AR and credit operations of leading manufacturer of diesel engines.RALEIGH, N.C.--(BUSINESS WIRE)--July 31, 1995--Global Software today announced that Universal Accounts Receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying has been selected by Cummins to support its international AR and credit operations. Universal Accounts Receivable is a high-performance client/server system that addresses the accounts receivable and credit management needs of large multinational corporations. Cummins is implementing Universal AR on an IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) RISC/6000 platform with an Oracle RDBMS (Relational DataBase Management System) See relational database and DBMS. RDBMS - relational database in both the United States and the United Kingdom. The new system will replace their existing mainframe-based AR system from Walker Interactive Systems. "Our strategic direction is to move our financial systems off the mainframe and into a client/server environment," explained Wayne Draeger, vice president, Financial Administration. "At the same time, we need to maintain the system capabilities required to run our worldwide business. Therefore, we were looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. an AR system that combined mainframe-level functionality with the ease-of-use and flexibility of client/server technology." Because Cummins' AR system in Columbus, Indiana and Darlington, England supports international operations, the multiple currency and multiple language capabilities of Universal AR were important considerations in the selection process. These capabilities, along with the ability to define relationships between individual customer accounts and their corporate parents, will allow the corporate AR group to quickly see Cummins' consolidated credit positions for any account or group of accounts. Universal AR is part of Universal Financials, a fully integrated suite of client/server financial applications for both mainframe and UNIX-based environments. The Universal Financials suite also includes general ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. , accounts payable, purchase order and fixed asset management modules. "The functionality of many of today's client/server financial systems is `GL-centric' and relatively weak in financial applications," said Ron Kupferman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Global Software. "Universal Financials is unique in providing a fully integrated suite of financial applications where each application can stand alone as a `best-of-breed' solution." Global Software, with its joint venture partner Quality Software Products, Plc of the United Kingdom, develops and markets financial accounting software for IBM mainframe, UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). and AS/400 environments. Global/QSP generates worldwide revenues of over $60 million, and supports in excess of 1,000 clients using more than 3,000 installed products in over 20 countries. Universal Financials is marketed outside the U.S. as Universal OLAS OLAS Organización Latino Americana de Solidaridad (Organization of Latin American Solidarity) OLAS Optical Line Amplifiers Shelf (Ciena) . Cummins, headquartered in Columbus, Ind., is a leading worldwide designer and manufacturer of diesel engines and related products. These engines provide power of trucking, power generation, bus, industrial, marine and government markets worldwide. Cummins reported record sales of $4.7 billion in 1994. CONTACT: Global Software Bill Walker, 800/326-3444 or Steven Swartz Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Steven Swartz, 617/245-8890 |
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