SRC Software Introduces First Comprehensive Budgeting, Forecasting and Reporting Solution for the Hospitality Industry; Performance Management Solution Drives Operational Control and Accountability.

PORTLAND, Ore. -- SRC Software, the leader in providing flexibility and sophistication for enterprise performance management applications, today announced the availability of SRC for Hospitality and Leisure (HL), a budgeting, forecasting and reporting solution specifically designed for the hospitality and leisure industry. SRC brings unprecedented, industry-leading methodologies to the hospitality and leisure industry, enabling hotels, restaurants and leisure groups to create timely, meaningful forecasts, streamline the budgeting process, and effectively monitor, measure and communicate performance, regardless of organizational complexity.

Planning and controlling day-to-day operations is a time-consuming, multi-layered process. To streamline this process and ensure more timely and accurate operations, SRC designed a complete set of applications to meet the demands of the hospitality industry with greater accuracy, accountability and speed. SRC for HL is the only solution to provide organization-wide collaboration and control over the four key performance indicators driving revenue in the hospitality and leisure industry: material costs; property and capital; supplies and services; and labor costs. SRC for HL will enable businesses to optimize their operational infrastructure, and provide the means to monitor and track it. SRC for HL:

--Simplifies the budgeting process and streamlines the sharing of data to provide greater accuracy, enhanced accountability and increased ownership by business units.

--Produces accurate, real-time forecasts at any level, enabling businesses to focus on strategic issues in tandem with detailed budget plans.

--Defines key performance metrics to continuously monitor key indicators, enable swifter and better informed decision making, and create an up-to-date picture of company performance.

--Streamlines data collection and scorecard collaboration; creates accurate, meaningful scorecards; enables businesses to align strategic goals with measurable metrics.

"With more than 100 operating units throughout Sweden, we needed a powerful forecasting and analysis system that could provide a simplified overview of our daily business," explains Johan Mark, Business Controller at Eurest AB, a division of Compass Group Plc. "Implementing the SRC system was an easy choice for Eurest because of its flexible and intuitive MS Excel interface which interoperates seamlessly with our existing budget forms."

SRC has more than twenty years' experience building highly-specialized performance management solutions tailored to meet their customers' individual business needs. SRC for HL is part of a broad family of industry-specific performance management solutions, including products designed to meet the unique needs of financial institutions, retailers, healthcare organizations, insurance providers and now hospitality and leisure providers.

"Designed to address the unique challenges facing hotel groups, commercial food service companies, restaurants and leisure groups, SRC for HL is unique because it is the first complete solution capable of automating the financial data collection, analysis and distribution process across an entire organization," said Tony Naylor, director of hospitality solutions for SRC Software. "SRC eliminates the complex and error prone internal budgeting and forecasting environment that is characteristic of today's hospitality and leisure organizations."

SRC for Hospitality and Leisure

SRC Software offers the first purpose-built, fully-integrated performance management suite based on a flexible platform and a true, closed-loop process. Combining an intuitive MS Excel-based front-end, which ensures ease-of-use across an organization, with robust industry-standard databases, SRC Software reporting and analysis capabilities provide familiar spreadsheet formatting and calculating features to users while instantly populating reports with the most up-to-date information. Ensuring maximum involvement with the planning, reporting, and performance management process, users can leverage extensive Web access methods and use SRC Software over the Internet, enterprise LAN, or wireless connections when out of the office.

Pricing and availability

SRC for Hospitality and Leisure will be available commercially in June 2005. For pricing and further information, please call SRC Software toll free at 1-800-544-3477 or e-mail [e-mail].

About SRC Software

SRC Software (www.srcsoftware.com) is the leader in providing flexibility and sophistication for enterprise financial planning and corporate performance management. With nearly 2,400 installations in mid- to high-end enterprises, SRC's highly-personalized budgeting, payroll planning and multi-source consolidation/reporting solutions are used by companies such as Amerisure, National Farmers Union Insurance, United Guaranty Corporation, PICA, Comerica, New Balance, and C-SPAN. SRC offers a full complement of financial planning and analysis tools through its unique integration of spreadsheets and industry-leading databases complete with full-scale Web deployment. The company is privately held and based in Portland, Oregon, with regional offices in Boston, New York, Austin, Chicago, Atlanta, Tampa, San Diego and San Francisco; and international offices in Brussels, Stockholm, London and Singapore. For more information, contact SRC Software at [phone] or by e-mail at [e-mail].