Jedox and PwC to Cooperate With Regard to Treasury Solutions

FREIBURG, Germany -

- Jedox AG, a Provider of Business Intelligence Software, has Signed a Cooperation Agreement Pertaining to Treasury Intelligence Projects With the Auditing and Consulting Services Business PricewaterhouseCoopers AG.

Jedox AG, a leading provider of commercial, open source business intelligence and performance management solutions in Europe, will be cooperating in the future with PricewaterhouseCoopers AG, one of the leading auditing and consulting services businesses in Germany, in the field of treasury intelligence projects. Treasury intelligence describes a range of treasury-specific reporting and control instruments supplied by PwC to its clients in order to support corporate processes in this area. The solutions on offer include, for example, a liquidity planning tool, a counterparty risk management product and a product for group-wide compilation and creation of disclosures in compliance with IFRS 7.

“Jedox offers an innovative and well priced system solution which we can now combine, in suitable cases, with our expertise and knowledge of best practice approaches in the treasury field and with our strong project management capabilities,” comments Thomas Schräder, Head of the Corporate Treasury Solutions Business Unit at PricewaterhouseCoopers, about the cooperation with Jedox. Kristian Raue, CEO of Jedox AG, states: “We are very pleased to have entered into this cooperation with PricewaterhouseCoopers, which is one of the most prestigious auditing and consulting service businesses. Treasury intelligence products are highly complex applications catering for financial management in large corporate groups. The fact that PricewaterhouseCoopers will now be making use of the Palo Suite in this field underlines the technological and innovative skills and leadership of Jedox.”

The Palo Suite allows Excel tools to be converted into web-based database applications. This helps combine the efficient development permitted by Excel applications with the advantages of web applications, which can otherwise take a lot of effort to implement. The disadvantages of Excel as a technical platform, such as difficult integration into existing system environments, limited multi-use capabilities, decentralised provision of data and its somewhat circuitous use, are all avoided by using Palo. The treasury intelligence solutions based on Palo can be easily integrated into existing system environments by means of pre-defined interfaces (e.g. with SAP). Complex authorisation concepts can also be realised quite simply. Data is saved in a database and is thereby available everywhere (if the user has the necessary rights to access the data). Following installation, the Palo software can be adapted and administered by departments with good Excel skills (e.g. Treasury or Controlling) without the need for help from dedicated IT specialists. The core of the software is an OLAP database, which is installed on a server in the user’s computing centre. Relevant master data and dynamic data (e.g. asset values and cash flows) can be automatically imported via interfaces into the database from pre-processing systems. A web server also allows the data to be made available on a company Intranet to users at various corporate locations, without having to relinquish the advantages of consistent data storage in a central database.

About Jedox:

Jedox AG, with its head office in Freiburg in Germany, and branches in Great Britain and France, is a leading provider of commercial, open source business intelligence and corporate performance management solutions in Europe.

Jedox AG’s main product, the Palo Suite, caters for the entire spectrum of business intelligence and corporate performance management, including planning, budgeting, forecasting, reporting, dashboarding and analysing.

The core of the Palo Suite is the multi-dimensional Palo OLAP server, which can be rapidly and simply integrated with existing Excel applications in order to optimise Excel-based BI and CPM processes.

Businesses that have successfully implemented the Palo solutions, in Germany as well as abroad, include well known names such as the Otto Group, Bayer, Nycomed Germany, Clariant Switzerland and the Süddeutsche Publishing House. Jedox currently has a staff of over 60 as well as more than 100 partners throughout the world.

The Palo Suite can be downloaded free of charge from www.jedox.com.

Axel Langer PR and Communications Manager Tel: +49-761-15147221 axel.langer@jedox.com

Source: Jedox AG

Axel Langer, PR and Communications Manager, Tel: +49-761-15147221, axel.langer at jedox.com