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Infor Announces Localization Platform for Financial ReportingLocal.ly Will Help Customers Expand Globally While Maintaining Compliance Locally With Complex Financial and Governmental Regulations (April 24, 2012)
NEW YORK, NY -- (Marketwire) -- 04/24/12 -- Infor, a leading provider of business application software serving more than 70,000 customers, today announced Local.ly, a revolutionary platform to deliver localized statutory reporting, accounting and tax content by country in a loosely coupled architecture. Local.ly will help companies that operate in, or wish to expand to, different countries maintain compliance with the various complex requirements of local governments and financial institutions. In addition, because Local.ly will extract information from the core ERP engine through Infor10 ION Technology, upgrades to software systems are unlikely to break the localizations.
"Localizations present a costly and tedious problem for multinational companies, as well as a complex compliance risk and a barrier to system upgrades," said Charles Phillips, CEO of Infor. "The software industry historically has left the bulk of this difficult task to customers and a loose federation of resellers and partners, but with Local.ly, Infor will build these localizations as a service in the cloud and in a managed appliance on premise for our customers."
Infor is developing this platform using new and existing technologies from across the Infor portfolio to speed development time. Local.ly is being designed to provide a framework to help customers with global expansion. An electronic communication engine, sourced from Lawson M3 ERP Enterprise, provides an electronic interchange with local banks and regulatory agencies. A tax engine, sourced from Infor10 ERP Enterprise (LN), helps facilitate compliance with rules of various countries. Infor has built a global financial controller that will help companies handle different accounting treatments that can be externalized for a new country, helping customers deploy more easily and quickly.
Infor10 ION, Infor's innovative, lightweight middleware, is the key enabler for Local.ly. Local.ly works by creating business object documents (BODs) in the ERP system, which are then published into the Infor10 ION Business Vault, an optimized business repository, through ION. Those BODs then may be transmitted electronically to local financial institutions and government agencies. Because the BODs are created from data contained in the ERP and then localized through Local.ly, companies are better able to expand into new countries, maintain regulatory compliance, upgrade systems without breaking localization, and most importantly, lower their IT expenditure.
Infor plans to make Local.ly available to customers beginning in late Summer for 5 countries and plans to expand the offering to up to 50 countries in 2013.
Infor is the world's third-largest supplier of enterprise applications and services, helping more than 70,000 large and mid-size companies improve operations and drive growth across numerous industry sectors. To learn more about Infor, please visit www.infor.com.
This announcement reflects the direction Infor may take with regard to the specific products and services described herein, all of which is subject to change by Infor in its sole discretion, with or without notice to you. This announcement is not a commitment to you in any way and you should not rely on this announcement or any of its content in making any decision. Infor is not committing to develop or deliver any specified enhancement, upgrade, product, service or functionality, even if such is described herein. This document, in whole or in part, may not be incorporated into any contractual agreement with Infor or its subsidiaries or affiliates. This announcement, in whole or in part, may not be incorporated into any contractual agreement with Infor or its subsidiaries or affiliates. Infor expressly disclaims any liability with respect to this announcement. The services described herein may not be available for all Infor products.
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