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Dubai Software Company Solves Post Dated Cheques Challenges
Dubai - 20 October 2003
SYSTRONICS llc, a Dubai-based ACCPAC Development Partner and Solution Provider, announced today the launch of CashWorks, a software program that addresses accounting standards variances between countries in the region and globally. CashWorks deals with post-dated cheques, a feature that is typically not available in internationally marketed accounting and finance packages in the region.
Zareh Tutunjian, managing director for SYSTRONICS explains “In the UAE, Kuwait, Oman, Bahrain, and also in countries like Singapore, and in South America, it is legal to write post-dated cheques. Most users of international accounting software have addressed this issue through work arounds. Our application presents a more logical and intuitive approach to handling post-dated cheques.”
CashWorks was developed using the ACCPAC Software Development Kit (SDK) and is tightly integrated with ACCPAC end-to-end business management solutions.
Marc Van der Ven, general manager for ACCPAC Middle East, said that CashWorks will be promoted among the worldwide ACCPAC Solution Provider channel. Van der Ven said, ”We believe CashWorks provides our channel with a key differentiator to offer their clients.” According to Van der Ven, CashWorks easily integrates with ACCPAC Advantage Series™, ACCPAC's flagship business management solution.
Tutunjian explains that, in most international accounting systems, the recipient has to manually hold cheques until the prescribed date in order to enter amounts into the system. With CashWorks, post-dated cheques can now be entered immediately as payments or receipts. CashWorks was developed because of the need to easily combine receipt and payment schemes with accounting systems. CashWorks interfaces with general ledger, accounts payable and accounts receivable.
Tutunjian adds: “CashWorks offers flexibility in choosing options and parameters. From an accounting point of view, it depends on the type of business relationship. Even in a country where post-dated cheques are less common, like Saudi Arabia, a customer can issue and receive cheques if the business relationship with the supplier can hold such an agreement. The challenge is whether the accounting system integrates with the post-dated cheques module. CashWorks solves this challenge.”
Van der Ven ends: “CashWorks is a horizontal application, which means it's applicable across many industries, thereby offering great potential for the global market. CashWorks exemplifies our ongoing commitment to working with our partners, some of whom, as in this case, also act as developers of add-ins for the ACCPAC product line. For such an innovative product that solves an existing business management problem to come out of the Middle East is also evidence, in our opinion, of the progress being made in the region's technology sector.”
About SYSTRONICS:
With 47 years experience in business solutions, 29 years Sage 300 know-how and 17 powerful Sage 300 SDK applications, SYSTRONICS is recognized as a reliable Development Partner by vendors and customers alike. Over the years, SYSTRONICS' achievements have been acknowledged by international market leaders, in testimony of which they have rewarded SYSTRONICS with prestigious industry accolades. SYSTRONICS is the winner of the “Sage Development Partner of the Year 2006-2007 for International Achievement” and “Sage Development Partner of the Year 2005” awards. “AR-AP Settlements™”, “BACCPAC™”, “Cashflow Forecasting™”, “CashWorks™”, “Database Manager™”, “Field Extender™”, “Gulf Utilities™ for Payroll”, “I/C Item Converter™”, “I/C Multi-Location Cost Averaging™”, “I/C Stock Aging Report™”, “Intercompany Utilities™”, “iPortal™”, “MyHelp™”, “PJC Security™”, “Revenue & Expense Deferrals™”, “Royalty Payments™”, “SYSTRONICS Stock Aging Report™”,“ToolPac - Subledger Reconciliation Toolsets™”, “Trade Finance™”, “Trade Job Costing™” & “MyOwnAddOn™” are products and services available from SYSTRONICS (www.systronics.com).