YAD.V News, Aludra Expands Aludra e-Suite with Purchase of Comprehensive Accounting Package
Tuesday January 9, 9:57 am Eastern Time
Press Release
SOURCE: Aludra Inc.
via BCE Emergis e-News Services
Aludra Expands Aludra e-Suite with Purchase of
Comprehensive Accounting Package
Toronto, Ontario
Provides Cost-Effective Business Management Solution to Fully
Address Back-Office Needs
Aludra Inc. (CDNX: YAD) today announced that it has purchased from Accord Software Inc. the source code and exclusive
rights to modify, improve and market Accord 2000 Business Application Software. The purchase of this accounting software
system was accomplished for $25,000 in cash and 84,000 shares of Aludra common stock valued at $1.50 per share in an
arms-length transaction, which is subject to regulatory approval. This advanced Web-based accounting system is a fully
integrated enterprise-wide solution that provides customizable enterprise resource modules, such as general ledger, accounts
receivable and accounts payable. Accord was chosen after an extensive review of several Window-based accounting
software applications on the market. The Accord 2000 package was selected because of its rich feature set, and extensive
enterprise-level / multi-user functionality that, once incorporated into Aludra's e-Suite can be delivered at a fraction of the cost
of competing business management solutions for the same market.
According to Forrester Research, Canadian companies will spend $1.8 billion on integration products and services during
2001 and that figure is expected to grow to $9.1 billion by 2004. Further, integration projects comprise 30% of information
technology development budgets.
Accord's Integrated Accounting is available in three distinct modules:
* General Ledger - providing organizations with sophisticated
financial reporting and sound accounting procedures.
* Accounts Payable - that tracks vendor's activity and all
transactions that affect accounts payable balance.
* Accounts Receivable - allows tracking of customer sales activity
and payment behavior.
A further module, Human Resources/Payroll is currently under development and will round-out Aludra's comprehensive
accounting package. Accord 2000 will easily integrate with Aludra's e-Suite and will include new feature enhancements, such
as multiple channels, including WAP compliance - that will facilitate workforce interaction as the accounting package is to be
fully integrated with wireless business applications capability that enables mobile workers access to real-time, round-the-clock
remote access involving corporate data and e-mail via hand-held computers and cellular phones.
Aldo Baiocchi, President and CEO of Aludra had this to say, ``We want to offer the most comprehensive and flexible suite of
integrated business management and e-Business solutions and believe that our new model of business communications will in
fact lead the market. Once Accord 2000 is fully integrated into Aludra's e-Suite, managers will have WAP-enabled 24/7
remote access to all aspects of their business process. Imagine, you can be on the road and check on any aspect of your
companies operation. We are among the first companies to offer an e-Business platform that includes Accounting, POS and
e-Commerce all fully integrated and WAP compliant.''
Tony De Feo, President of Accord Inc. added, ``We are pleased to provide Aludra with a robust accounting solution and
look forward to our new partnership with Aludra and will actively promote their e-Suite platform as a value-added reseller
(VAR). We are excited to see our accounting software taken to a new level of integrated functionality. Once seamlessly
incorporated into Aludra's e-Suite, Accord 2000 will take full advantage of the functions, features and flexibility of this
leading-edge platform and help set the standard in this market.''
About Aludra: Aludra Inc. is a Toronto-based Technology and Imagination Company that is ranked among Canada's Top 50
Fastest Growing Start-up Companies as published by PROFIT, The Magazine for Canadian Entrepreneurs. As a
leading-edge e-Business solutions provider, Aludra delivers a broad range of fully integrated software products and services
using new and emerging technologies that create value to its client base. The Company has earned numerous citations and
awards for design and innovation excellence and is well known for its digital animation, flexible programming technology,
customer support and its flagship product, Aludra E-Suite, version 1.1. This modular suite of integrated, Web-based products
provides multiple points of information access, transaction tools, fully integrated accounting, Point-of-Sale (POS), file sharing,
contact management, quote/RFP generator, chat rooms/news group/message boards and a host of additional applications.
Aludra combines this full-service suite with implementation services and strategic alliances to enable client companies to
leverage the reach and efficiency of the Internet to enhance their competitive market position.
About Accord: Founded in 1985, Accord Software Inc. is a privately held company that develops industry-specific Business
Application Software. Accord has been a provider of information technology solutions to the wholesale distribution,
construction, hospitality, and logistics industry for well over a decade. The Company has built a reputation for excellence
through a combination of innovative solutions, flexible and easy-to-use technologies, and outstanding customer support.
For further information, please refer to Aludra's web site at www.aludra.com or contact Aldo Baiocchi, Aludra CEO and
President, at (416) 658-0034 ext.103, e-mail: ab@aludra.com, or Investor Relations at (416) 656-7640 ext.114.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this
release.
SOURCE: Aludra Inc.
signed,
Bernard
