World's Largest Credit Union Completes Lawson Software Implementation; Navy Federal Credit Union Uses Lawson Accounts Payable Application to Expedite Invoice Processing, Enhance Customer Service

Business Wire, August 22, 2006

ST. PAUL, Minn. -- Lawson Software's (Nasdaq:LWSN) Accounts Payable application, part of the company's Enterprise Financial Management suite, is helping Navy Federal Credit Union improve satisfaction among internal and external credit union members by automating invoice processes.

"Our previous accounts payable system required duplicate data entry and too much administrative time to complete routine tasks," said John Pleasants, manager of Annual Financial Planning & Management Accounting, Navy Federal Credit Union. "Lawson provided the technology foundation from which we've driven business process changes within our accounts payable department. Now, completing actions like approving invoices takes seconds instead of half a day."

Based in Vienna, Va., Navy Federal is the world's largest credit union with $25 billion in assets and 2.7 million members. It serves all departments of the U.S. Navy, including military and civilian personnel, contractors that work for the Navy on a regular basis, and their families.

The Lawson Accounts Payable application replaced Navy Federal's 15-year-old legacy accounting system. Since completing the implementation in January, the credit union has automated its invoice processes, which enables staff to expedite statement routing and improve invoice tracking. Moreover, Navy Federal can now enter invoices, create and store vendor records, manage cash flow and generate payments with greater speed and accuracy, allowing employees to focus on serving credit union members.

In addition to implementing Lawson Accounts Payable, Navy Federal also used Add-ins for Microsoft Office. This Lawson technology extension has helped Navy Federal improve its reporting capabilities by reducing manual data entry. Today, the credit union is able to quickly extract data from the Lawson system and upload information from Microsoft Office applications into the Lawson system.

"Everyday our field offices handle hundreds of transactions that involve manual data entry into a spreadsheet," said Pleasants. "Rather than having to re-key information into our accounts payable system, we can simply upload those spreadsheets directly into the Lawson system thereby significantly reducing time spent on administration."

Navy Federal began the implementation in the fall of 2005 by creating a cross-departmental team to oversee the project. Team members selected to support this project throughout design, rollout and training included employees from accounting, information technology and senior-level executives, as well as Lawson integration partner Velocity Technology Solutions LLC.

In addition to developing the project rollout plan, the team also created and implemented a plan to communicate project milestones and new processes to employees. With integration support from Velocity, Navy Federal rolled out the Lawson system in two of its 10 departments every two weeks. This phased approach ensured proper configuration and secured employee confidence.

"Challenged to provide superior customer service and a growing portfolio of financial services products, credit unions need automated business systems to streamline processes and reduce administrative costs," said Vicki Griffith, industry marketing director, Industry Markets, Lawson Software. "Our products, services and best practices expertise help financial services organizations achieve their business objectives for the lowest total cost of ownership."

Lawson serves more than 180 financial services companies, including 23 percent of the commercial banks and savings institutions listed on the Fortune 500, and 12 percent of the insurance companies listed on the Fortune 500. Lawson financial services customers include banks; credit unions; life, property & casualty and specialty insurance companies; and investment firms.

About Lawson Software

Lawson Software provides software and service solutions to 4,000 customers in manufacturing, distribution, maintenance and service sector industries across 40 countries. Lawson's solutions include Enterprise Performance Management, Supply Chain Management, Enterprise Resource Planning, Customer Relationship Management, Manufacturing Resource Planning, Enterprise Asset Management and industry-tailored applications. Lawson solutions assist customers in simplifying their businesses or organizations by helping them streamline processes, reduce costs and enhance business or operational performance. Lawson is headquartered in St. Paul, Minn., USA, and has offices around the world. Visit Lawson online at www.lawson.com.

About Navy Federal Credit Union

Navy Federal is the largest credit union in the world with $25 billion in assets and 2.7 million members. Navy Federal has 112 branch offices and 308 proprietary ATMs located worldwide. The credit union serves all Departments of the Navy (DON) military and civilian personnel, contractors who provide service to or work for DON on a regular basis, and their families. For additional information about Navy Federal, visit: www.navyfcu.org.