The company that delivers software that businesses never outgrow, today announced that its Progression Series suite of software will fully support the euro, recently adopted as the new single format European currency.
"Compatibility with the euro is another crucial step in our mission of helping companies grow on a worldwide level," said company President and CEO Bruce A. Hollinger. "This currency will shape commercial activity not only in Europe, but also around the globe. It is essential that Progression be a part of this change."
The euro was introduced and put into effect on January 1, 1999 as legal tender for regular trading purposes. A three-year transition period, in which transactions may be undertaken in either the national home currency or the euro, has been devised to ease the adoption process. The 11 countries participating in this initial phase are Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. All will have a fixed exchange rate related to the new standard.
With the latest version of Macola`s Progression Series software, becoming euro-compliant is as simple as plugging in the appropriate euro rate in the Currency Manager module`s rate fields. Entering these during the currency code set up process automatically enables this feature. Once this is done, all further transactions that involve the new currency will automatically use the euro logic to calculate the conversion.
"Macola has incorporated a phased approach to address the euro," explains Sanjeev Verma, vice president of application development. "It is our intention to help our customers during this period of sweeping change, and make sure their operations continue to run smoothly."
Macola delivers Microsoft-based technology solutions to growth-oriented small and midsize companies. More than 16,000 sites and 175,000 customers worldwide operate their businesses using Macola software, and three new companies commit to Macola Software every day. Macola grew almost 30 percent last year and has sustained that rate of growth approximately every year since 1990. During the last fiscal year, Macola experienced a dramatic expansion of more than 230 percent in international sales, which now represents approximately 15 percent of annual revenues.
Founded in 1971, Macola is a privately owned global company headquartered in Marion, Ohio. Macola provides client/server manufacturing, distribution and financial solutions in more than 35 countries through its Business Partner Network.
Macola is a Microsoft Solution Provider Partner, offering a product line that takes full advantage of the Microsoft Windows and BackOffice environments. Macola`s signature product, Progression Series 7.5, is a client/server application designed to combine robust functionality with flexibility and scalability that businesses can leverage today and well into the future.
Macola Software`s Progression Series is an award-winning product line. Macola was named by start magazine as one of the "Hottest Companies of 1998." Macola was also included in Manufacturing Systems` list of the "Top 100 Manufacturing Software Vendors" for 1998. Accounting Today magazine named Macola`s Progression Series Distribution software as one of the "Top 100 Software Products in 1999."
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