Freddie Mac signs with SQL Financials for enterprisewide accounts receivable, revenue accounting solutions; Implements accounts receivable, revenue accounting for two business divisions in four months

Business Wire, Sept 11, 1995

ATLANTA--(BUSINESS WIRE)--Sept. 11, 1995 -- SQL Financials International, Inc. announced today that Freddie Mac, the secondary mortgage market corporation that finances approximately one out of every six homes in the U.S., has licensed its client/server Accounts Receivable, Revenue Accounting, Task Manager and Document Manager packages for multi-site use nationwide.

"We selected SQL Financials products after a thoughtful evaluation process in order to partner with the vendor that could best help us manage our revenue accounting business functions and improve our level of customer service," said Tonya Jackson, director of revenue accounting, Freddie Mac. "In addition, this decision coincides with our strategy of redesigning our corporate processes.

"We were also impressed with the quality and level of customer service," she added, "and our ability to implement these products in two business divisions in only four months. While SQL Financials is a relatively young company, its professional and enthusiastic staff gave us a level of comfort that contributed to a great working relationship from the onset."

"Freddie Mac is another proof statement of our ability as a growing client/server software provider to meet the needs of large organizations with complex accounting requirements," said Joe McCall, president and CEO of SQL Financials. "We're proud to add Freddie Mac to our client list, which includes familiar names such as Ameritech, Sara Lee and United Technologies."

The implementation of SQL Financials products, which are replacing other systems, is part of Freddie Mac's business process re- engineering. This effort seeks to provide the company with better and faster access to business information for improved decision making. The company expects to implement SQL Financials products in additional business divisions later this month.

Products Licensed

Accounts Receivable streamlines payment applications; provides comprehensive management and reporting of receivables activities; manages customer information and inter-relationships; tracks the collections process; handles foreign currency gains and losses; and provides comprehensive historical information. The system provides flexible import capabilities to load customer, invoice and payment data from external systems.

Revenue Accounting combines invoice entry and billing applications. It provides user-defined rules for revenue recognition; automatically creates multi-line tax distributions for multiple taxing authorities; calculates shipping charges for specific lines of an invoice; supports multi-catalog pricing structure and user-defined pricing contracts; and tracks customer deposits and down payments. Revenue Accounting works seamlessly with SQL Financials Accounts Receivable.

Document Manager manages document distribution and archiving within the client/server environment. It lets customers easily review reports and statistics on-line in spreadsheet format and provides date/time stamped information for easier identification. The module works seamlessly with SQL Financials applications, allowing customers to store information in a single location to provide easy access to all enterprise users. Database security protects all reports.

Task Manager provides job scheduling and task management for easy scheduling. It lets customers offload the processing of large operations from a workstation, lightening the processing load on users' PCs and allowing them to work on other tasks. Workflow technology provides for notification of task completion and report distribution through standard e-mail interfaces. The system works seamlessly with all SQL Financials applications.

Founded in 1991, SQL Financials International, Inc. develops and supports cross-industry client/server enterprise applications on a variety of scalable platforms for Fortune 1000 companies. SQL Financials currently provides General Ledger, Accounts Payable, Accounts Receivable, Revenue Accounting, Fixed Assets, Document Manager and Task Manager applications and is in the process of developing a complete suite of application software. Headquartered in Atlanta, with European headquarters in Windsor, England, the company provides software and services to major corporations, including Ameritech; Executive Risk, Inc.; Sara Lee Corporation; and United Technologies Corporation. The company differentiates itself on the basis of its high performance, fully functional and intuitive client/server applications that are quick to implement and that provide a rapid return on customer investment. -0-

Throughout this release, software and hardware products are mentioned by name. In most, if not all, cases, these product names are claimed as trademarks by the companies that manufacture the products. It is not our intention to claim these names or trademarks as our own.

CONTACT: Noreen Snellman

SQL Financials International

404/390-3970

or

George Cohen

George Cohen Communications

617/325-0011