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June 30, 1997updated 05 Sep 2016 12:34pm

PLATINUM’S RELEASE HAS EURO-READY MULTI-CURRENCY SUPPORT

By CBR Staff Writer

Newly-rejuvenated Platinum Software Corp has unveiled Platinum SQL 4.1, the latest version of its flagship client-server financial accounting application. The Irvine, California-based company claims the key new feature is multi-currency support for processing and reporting in the general ledger, accounts payable and accounts receivable modules. It says second currency settlement will enable users working with different currencies to automatically calculate cross-rates, recording accounts, for example, in both French francs and US dollars. Platinum maintains the new functions will be of particular benefit to users in Europe and South America dealing with multiple currencies, enabling easier and more flexible cash-flow reporting to help companies adhere to all the major standards for reporting on their foreign subsidies. Platinum also claims its product is the most poised to support the introduction of the Euro over the European Monetary Union. A customizable workbench including a software development kit and visual forms designer will enable users to quickly customize Platinum SQL and develop it for use in non-English speaking countries. The company clearly hopes the new features will boost business in the international marketplace and says it is aiming to raise its international revenues from 35% to 50% of its total business over the next one to one and a half years. Mike Pennell, product manager for Platinum SQL, denied that the company would be moving away from its home market but was clearly hoping to expand abroad, saying that a key aim of the new release was to remove any existing barriers and [help us] take advantage of the international marketplace. The company added that it would be looking to sell to mid-market firms and particularly those in the $300m to $500m range. Platinum SQL 4.1 costs between $50,000 and $120,000 with a typical configuration standing at around $75,000 with pricing according to the number of modules and concurrent end users.

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