Back
Solectron Corporation Completes Global Deployment of Emagia Solution as Part of its Strategic Cash Flow Initiative
Leading Contract Manufacturer deploys technology infrastructure from Emagia resulting in improved cash-to-cash cycle
Santa Clara, Calif. April 13, 2004 - Emagia Corporation, the leading provider of Enterprise Cash Flow Management solutions, announced today that Solectron Corporation (NYSE:SLR), a leading electronics contract manufacturer, successfully deployed Emagia across all of its global regions. Emagia is now utilized as shared services infrastructure by accounts receivables teams spanning several Solectron sites in North America, Europe and Asia and across a variety of back-office financial systems.
"After deploying Emagia, we have gained business-critical information on accounts receivable, which has helped drive our cash flow initiative across the global operations of Solectron," said Perry Hayes, Solectron's vice president and treasurer. "As the economy recovers and our business continues to improve, we have a powerful platform in place that allows us to make better cash flow decisions, empower our shared services teams and maintain focus on maximizing profitability."
Solectron's cash flow initiative involved improving business processes, establishing shared services teams and automating cash flow processes. Emagia's solution was used as the underlying technology platform that helped Solectron achieve the goals of the initiative. The results have been a significant reduction in DSO over the past two years, as well as decreases in direct and working capital interest expenses.
"Emagia's solution allowed us to strengthen our cash flow initiative," said Ajay Birla, Solectron's vice president of Information Applications. "Integrating Emagia with our existing systems for daily transactions was accomplished with minimal disruption."
"We are very pleased to see Solectron's successful deployment of the Emagia solution across its operations," stated Veena Gundavelli, chief executive officer of Emagia. "This continues Emagia's successful track record of helping global Fortune 2000 companies like Solectron improve working capital management, reduce operational expenses, strengthen corporate initiatives such as shared services and Six Sigma, and most importantly, maximize free cash flow."
About Emagia
Emagia Corporation is the leading provider of cash flow management software solutions that streamline and automate cash flow processes for medium-to-large enterprises. Emagia solutions allow companies to realize significant benefits including maximizing cash conversion efficiency, facilitating strong internal controls for financial reporting and improved returns from cash flow management. Headquartered in Santa Clara, Calif., Emagia products integrate with SAP, Oracle, BaaN, PeopleSoft and other back-office financial systems.
Contact Information
Media contact: Lou Mohanty, Emagia Corporation, (408) 492-8886.
For general information, call 866-
EMAGIA-1 or visit
www.emagia.com.
Emagia is a registered trademark of Emagia Corporation.
