DENVER, May 29, 2001 — FRx Software Corp., a Microsoft Great Plains Business Solutions company, announced today that version 4.0 of its FRx® Forecaster™
product is now available. FRx Forecaster was most recently known as ebudgets, a product that FRx Software acquired through its acquisition of ebudgets.com in March 2001.
The new release of FRx Forecaster, which is immediately available to current customers, supports the extensible markup language (XML) and extensible business reporting language (XBRL) standards for streamlining the exchange of data. These standards greatly facilitate the exchange of information between best-of-breed solutions that include systems from multiple vendors. The use of XML and XBRL helps users shorten implementation times, alleviates errors and the rekeying of information imported from multiple sources, and eliminates the need for customized interchange mechanisms.
FRx Forecaster is the first budgeting software solution to support these industry standards, which are endorsed by the American Institute of Certified Public Accountants (AICPA), among others. FRx Forecaster 4.0 also includes enhancements to the system’s administrative, setup, input and reporting features — widening the gap in capabilities between FRx Forecaster and competing products.
The XBRL standard was developed by a committee of global financial, accounting and software organizations to provide common data structures for the transfer of information between back-office systems, such as those for budgeting, financial reporting, enterprise resource planning (ERP) and procurement. The standard describes the type of data an output file contains, turning output from one system into a database in which data can be exchanged with other systems. The standard greatly facilitates the exchange of information between best-of-breed solutions that include systems from multiple vendors.
“The XBRL Consortium members are pleased that the FRx Forecaster product offers an XBRL programming tool that companies can use in the budgeting process,”
said Mike Willis, chairman of the XBRL.org steering committee and a partner with PricewaterhouseCoopers LLP.
“As more vendors release XBRL-related products, greater adoption in the marketplace is expected. XBRL will ultimately help all users of the business information supply chain by significantly reducing the time to prepare, distribute and analyze business reports.”
FRx Forecaster provides CFOs, controllers and financial analysts with fast and accurate budget planning, reporting and forecasting capabilities — essential in today’s economy. The system’s completely Web-based architecture allows budget administrators and other authorized personnel to input and view data and reports from anywhere via an Internet connection. FRx Forecaster includes a simple user interface, line-item account breakdown, and modules for personnel, capital and revenue planning. FRx Forecaster integrates into existing accounting, procurement, human resources and ERP systems for comparisons of actuals to plans.
In addition to the ability to import and export XML and XBRL files, FRx Forecaster 4.0 includes a wide range of enhanced features that build on the software’s functionality, ease of use, performance and security. Those improvements include the following:
New options for consolidated reporting
Wizards that guide users step by step through the process of creating new exchange rates, lists for allocations and new security items, among other tasks
Expanded use of drop-down boxes and icons for maximum ease of use
Ability to copy detail data (line items, personnel, capital, margin) between versions
Global recalculations of formulas for some or all cost centers, projects, etc.
Support for up to 1,000 unique versions of budgets, forecasts,
scenarios or actuals
“The release of FRx Forecaster 4.0 shows our continued commitment to introducing open, leading-edge solutions that allow companies to overcome traditional budgeting, reporting and forecasting challenges. It is geared toward helping our customers reduce costs, accelerate the budget cycle and improve cash-flow management,”
said Kenneth Kay, vice president of Product Strategy for FRx Software, and creator and chief architect of the FRx Forecaster application.
“FRx Forecaster 4.0 builds on our reputation for unmatched technical innovation by delivering expanded functionality to address the needs of companies participating in today’s dynamic economy.”
As part of their annual software maintenance and support agreement, current ebudgets users will immediately receive the FRx Forecaster 4.0 release at no charge. These customers will be supported with free* Web-based training classes to help them learn how to use the software.
FRx Software will be making FRx Forecaster available for sale and distribution through its network of 25 accounting and ERP partners later this quarter.
About FRx Software
Denver-based FRx Software is the leading provider of advanced financial reporting software and financial analytics applications to midmarket and emerging enterprise organizations, with interfaces to more than 50 industry-leading financial accounting systems. Its
flagship product, FRx Financial Reporting, is used at over 85,000 sites worldwide and is the financial reporting standard for midmarket companies and emerging enterprises. Its newest product, FRx Forecaster is a robust, browser-based budgeting and planning application that is designed to uniquely address the needs of midmarket organizations. The company’s applications, distributed exclusively via 25 strategic partnerships, enable finance and accounting professionals to streamline processes with ease and generate the financial knowledge necessary to gain a competitive advantage. Additional information about FRx Software can be obtained by calling (800) 379-8733, or visiting the company Web site at http://www.frxsoftware.com/ .
Founded in 1975, Microsoft (Nasdaq
) is the worldwide leader in software, services and Internet technologies for personal and business computing. The company offers a wide range of products and services designed to empower people through great software — any time, any place and on any device.
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