PRESS RELEASE
DIGITALBRAIN EXTENDS ITS COMMITMENT TO PROCESSION'S
FINANCIAL PLANNING SUITE
Digitalbrain extends
sales forecasting into invoice forecasting
CHESHAM, United Kingdom. January 8th 2003.
Digitalbrain, a leading application service provider of web creation
and knowledge management tools, has awarded business process management
(BPM) specialist, Procession, a contract to install a further module
of the Procession Financial Planning Suite (FPS) to manage Digitalbrain's
sales processes. The first two modules of Procession's FPS were installed
last summer, and are used to control the whole process, from inception
through to close and internal revenue recognition, via an automated
end-to-end 'e-Process' solution which manages and tracks the progress
of each sales cycle. The new module forecasts and tracks all invoices,
thus complementing the revenue recognition module already in use.
The system was originally chosen by Digitalbrain's
chief operating officer (COO), Calum Cunningham, to manage its expanding
field-based sales activities. The new module has been installed to
ensure compliance with the latest GAPP requirements, and to ensure
that both cost and management accounts reflect business performance
accurately. According to Procession's chief executive officer (CEO),
David Chassels: "We are delighted with Digitalbrain's decision to
extend their system with this new module. It reflects the growing
realisation that the forecasting of invoices and the forecasting of
recognised revenue are totally different and must be kept separate.
Digitalbrain are one of the first companies to publicly acknowledge
the distinction."
About
Procession
Procession develops and markets Business Process Management (BPM)
software for the emerging process automation marketplace.
Supporting the operational aspects of Six Sigma
Plus* and conforming to the Business Process Management Initiative
(BPMI) standards, it enables organisations to implement, control,
monitor and improve their processes - leading to continual improvement
in customer focused quality and falling operational costs by allowing
managers to take control of their key business processes. The architecture
uses an RDBMS (Oracle), along with Java and J2EE application servers.
Procession's products are task-driven - unlike applications such as
CRM and ERP, which are based on data.
Based around a unique Process Engine, Procession's
range of products includes:
- The Financial Planning Suite - covering
sales management and forecasting for leads, opportunities,
revenue and invoicing
- Grant management
- Custom applications
Procession Software Ltd, formerly known as Datacore
Ltd, was founded in 1994. It became Procession in 2000. Its current
clients include the Bank of Scotland, UK Sport, Edinburgh City Council
and the New Opportunities Fund in the UK, along with Magma in the
USA.
-ENDS-
