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Central Bank Implements Open Source ERP5 in Eight Countries After Proprietary System Failed


Open Source ERP5 is now used to handle 90% of operations of a Central Bank including currency issuing in 8 countries.

Marcq-en-Baroeul, France, July 13, 2008 --(PR.com)-- After five months of continuous operations, Nexedi announces the first successful implementation of its open source ERP5 in a Central Bank, to manage the monetary system of 80 million people in 8 countries. Never before has an open source project reached this level of strategic mission critical application. ERP5 Banking is available for download to the 250 central banks worldwide, to free their economies from proprietary software vendor lock-in.

Yoshinori Okuji, Nexedi CTO, says:"ERP5 Banking has been used everyday for five months by 300 power users and has performed flawlessly. It runs on a Linux cluster of 32 nodes. ERP5 processes up to 5000 complex transactional workflows per hour with perfect linear scalability. This successful implementation is proof that open source can technically meet the most demanding business requirements. The combination of Zope Object Database (ZODB) and ERP5 Active Object technologies is the secret behind this technical success."

Sebastien Robin, ERP Banking project manager says: "This project's success is due to the unsurpassed flexibility of ERP5 in terms of workflows and security rules, as well as the quality assurance process at the core of ERP5. More than 3000 automatic tests cover every detail of the application and of the monetary operations, to ensure the system will meet customer expectations without interruption. ERP5 Banking interfaces with the SWIFT network, with real time compensation systems. With more than 60 modules, it provides the full scope of a Global Banking solution."

Rob Page, CEO of Zope Corporation said, "It is gratifying to see the Zope application server powering such a critical application. Zope clearly is in that elite group of development platforms (open source or otherwise) which have demonstrated the maturity to support enterprise class, mission critical applications. We congratulate the team at Nexedi on this substantial accomplishment."

"We are proud and happy that Nexedi chose to develop this project using Mandriva as the Linux distribution of choice. This is a good example of the type of project that can be addressed now given the maturity of open source components" said François Bancilhon, CEO of Mandriva.

Jean-Paul Smets, CEO of Nexedi concludes: "With a physical presence in Europe, America, Africa and Asia, Nexedi can provide 24H around-the-clock support to corporations and governments, and handle the most complex business projects. ERP5 Banking is succeeding where well-known proprietary solutions have failed. There are two main reasons : 1. its flexibility which drastically simplifies complex configuration and, 2. global developer community which guarantees ongoing support over decades, (while proprietary vendors often stop after 5 years.) This vibrant developer community ensures customers that they will never be locked into a vendor. This is true software/business freedom."

Permanent URL of this Press Release

http://www.erp5.com/news-central.bank

Contact Information

Email: press@nexedi.com
Phones:
* Jean-Paul Smets (CEO): +33 629 02 44 25 (French, English, Spanish,
Japanese)
* Rafael Monnerat: +33 6 62 05 76 14 before 2008-09-01 or +55 22 88
08 85 00 after 2008-09-01 (Portuguese)

About ERP5 Banking

ERP5 Banking provides a complete solution for central banking, and is the first Open Source ERP to be implemented successfully for a central bank in the world. As it is Open Source, it can adapt to any business requirement and specificity at a low cost, as there are no licensing costs.

http://www.erp5.com/erp5-Central.Banking.Pamphlet/view
(PDF Description)
http://www.erp5.com (ERP5)

About Nexedi

Nexedi is the creator and leader of the ERP5 open source ERP project. ERP5 has been developed and deployed ERP5 for a wide range of industries such as aerospace, apparel, banking, healthcare and government. ERP5 is used in companies of all sizes in Africa, Asia, Europe, North America and South America. The open source nature of ERP5 eliminates licensing costs and provides full freedom to update and customise the system as business requirements change without single vendor lock-in.

Nexedi provides 24H around-the-clock support to corporations and governments wishing to migrate their mission critical applications to open source software solutions.

http://www.nexedi.com

About Mandriva

Mandriva, formerly known as Mandrakesoft, is the publisher of Mandriva Linux, an easy-to-use and innovative operating system. It is one of the most popular Linux editions in the world. Dedicated to making open source technologies accessible to all users, the company offers a full range of products and services to individuals, enterprises and government organizations. Mandriva products are available online in 80 languages and in more than 140 countries through dedicated channels.

Headquartered in Paris, France, the company is publicly traded on the Euronext Marche Libre.

http://www.mandriva.com

About Zope

Zope Corporation is the leading provider of revenue-generating, turnkey, hosted Internet solutions for publishers and media groups, powering over 400 major media properties including daily/weekly newspapers and television stations. Zope provides well-integrated, easy-to-use solutions for content management, classifieds, ad serving management, blogging, video and federated search.

http://www.zope.com

Legal

Nexedi and ERP5 are registered trademarks of Nexedi. Other trademarks are registered trademarks of their respective owners.

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Contact Information
Nexedi
Jean-Paul Smets
+33(0)6 29 02 44 25
Contact
www.erp5.com

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