In an upgrade move geared to boost reporting functionality, SA`s leading derivatives house Cadiz Holdings has implemented SmartStream general ledger and integrated it into Analyst Financials.
The software upgrade completes a major IT roll-out for Cadiz, which involved standardising on Dell hardware throughout the group, both at the client (desktop/laptop) and host (servers) end. Windows 2000 Active Directory and Exchange 2000 were implemented at the host end and Windows XP at the client end.
"The financial application suite`s favourable cost and feature flexibility, which offers both team-based and statutory reporting, were our main reasons for choosing SmartStream," says Fraser Shaw, Cadiz CFO. "We have already used the software to automatically generate our annual year-end consolidated report pack and provide daily revenue reports to the team leaders and management."
SmartStream and Analyst Financials wraps all Cadiz`s application needs into one comprehensive package that covers everything, and collates and collaborates all the data so nothing needs to be entered twice. It has also allowed for the automation of many processes, which reduces the time lag in reporting to the teams.
As a result, the Windows-based financial management reporting software will support the Cape Town company`s 40 professional staff in their daily reporting and budgeting activities, freeing up valuable time, for the finance and services team to provide insightful information to assist in the management of the business.
"The real-time production of financial statements and flexible reporting offered by Analyst Financials and SmartStream suit the company`s structure very well - Cadiz wants to be able to assess the income of its business on a daily basis, and share this information with its key personnel," says Kevin Scholl, Managing Executive of Comparex Africa Mainstream Division.
Being an experienced integrator in the financial services market, Comparex Africa Mainstream was able to add value to Cadiz`s business by having comprehensive knowledge of the industry, as well as the design skills necessary to translate that knowledge into an effective IT solution.
"They quickly understood our business, even before the intense pre-implementation analysis," says Shaw. Cadiz employed Comparex Africa Mainstream consultants on a contract basis, before and during the project.
The entire project was successfully completed on time, within budget, meeting all the client`s requirements. "The smooth installation proves that the solution works extremely well in that market sector," says Scholl. Our consultants are still available for support and guidance if required.
Rated SA`s leading derivatives house for an unprecedented six years in a row in the annual Financial Mail analyst rankings, Cadiz recently reported a strong year, with operating profit up by 61%.
In the 2002 survey of institutional investors, Cadiz came first in Derivative Dealing, first in Derivative Research, first in Innovative research, first in Risk Management Research (the first time this category was awarded), second in Quantitative Analysis, third in Fixed Interest Securities Research.
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Cadiz Holdings Ltd is a financial services group specialising in the application of derivative instruments. Activities of the group`s wholly owned subsidiaries include equity derivatives, fixed income, quantitative research, stock broking, specialised asset management and structured solutions for the corporate, wholesale and retail markets.
For more information, see http://www.cadiz.co.za.
Comparex Africa
Comparex Africa is the leading integrator of ICT-based business solutions that make its clients more successful. Based on a strong customer-centric approach, Comparex Africa delivers technology-business solutions from the full range of competencies within its group that align its clients` strategic and operational business needs. Comparex Africa`s client-centric structure stems from its Systems Integration Model, a methodology that allows for flexibility and close client relationships.
Offering business solutions that address all areas of its clients business, Comparex Africa services organisations within the corporate and large enterprise, government and parastatal markets as well as within the medium enterprise sector in all vertical markets.
As an organisation with its roots firmly embedded in Africa, Comparex Africa reflects a cultural diversity, relying on the unique contribution of each of its skilled employees to succeed. Transformation is an overriding business imperative for Comparex Africa and as such it has dedicated resources from across the organisation to drive employment equity, economic empowerment and social investment programmes.
For more information on Comparex Africa, visit www.comparexafrica.co.za.
Timeline and Analyst Financials
Timeline develops, markets and supports proven, Windows-based financial management reporting software suitable for complex applications such as those found in medium to large, multinational corporations. Timeline Analyst was developed for Windows, Office and Windows NT and takes full advantage of Microsoft`s latest operating systems.
For more information on Timeline, visit www.timeline.com.
Analyst Reporting was developed for Windows, Office and Windows NT and takes full advantage of Microsoft`s latest operating systems. Analyst Financials is the European subsidiary of Timeline Inc that serves all markets outside of the Americas.
For more information on Analyst Financials, visit www.analyst-financials.com.
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