STUDLEY, UK , January 10, 2005 â GeacÂ® (TSX:GAC and NASDAQ:GEAC), has been awarded a Â£75,000 contract for its SmartStream financial software by Jardine Lloyd Thompson Group plc (FTSE: JLT), the largest insurance broker listed on the London Stock Exchange (and the sixth largest globally).
Geac SmartStream has been used in the group since 1997, and there are already 200 SmartStream users worldwide using the General Ledger, Accounts Receivable, Accounts Payable, Asset Management and Billing applications. Users are linked to six Microsoft NT servers based in UK, Singapore, U.S., Canada, Australia and New Zealand. The driver for the additional investment in SmartStream was as a result of JLTâs expansion in Latin America.
Karen Coughlin, Manager for the Group Financial Reporting Systems department at JLT, said:
"In 1997 Lloyd Thompson Group merged with JIB Group, and at that time there was a wide range of different finance systems in use. We chose Geac in order to standardise on a single global solution. Over the last seven years we have become so conversant with the solution that it makes it easy to roll out SmartStream to new operations. Also our knowledge and familiarity with the system has been a significant benefit for our transition to IFRS."