Geac Gets Some Breathing Room

AFP issues guidelines for treasury services, a security breach is found in Java, and more. StaffFebruary 23, 2001

Geac Pays Back Some of its Debt

Troubled Geac Computer received an extra month to work its way out of its financial problems. The company said on Thursday that its bank lenders are willing to continue renegotiating the terms of the unpaid balance on its line of credit until March 16.

Geac’s pleadings with its creditors were probably helped by the $8 million payment it made on Thursday, reducing the balance to $40 million. The company had originally been faced with a Feb. 15 deadline. After that deadline expired, the company kept bargaining until its lenders agreed to the March date.

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Earlier in February, the company paid a $12 million installment. But it’s still not out of the woods.

Plan Ahead

Deltek Systems released its Project Planner software, for project- specific planning, budgeting, and forecasting. The software can be integrated with the company’s Corporate Planner and Costpoint applications.

The applications are powered by Adaytum Software’s calculation engine under a technology sharing agreement Deltek announced last year.

The Project Planner application collects current data on projects and consolidates it into staffing and performance reports for senior management. It can be used to plan budgets and forecast personnel costs.

The software is designed for industries such as government contracting; research and development; engineering and design; software development and testing; and systems integration.

Clarus Expands in Mexico

B2B software publisher Clarus Corp. says Mexican systems integrator Qarta will sell Clarus’ products in that country, including the company’s E-procurement system.

Qarta is a strategic Microsoft reseller in Mexico, and the relationship with Microsoft was important for Clarus, which is building its E- commerce product strategy on the Microsoft .Net platform.

Late last year, Clarus announced its plans to expand its presence in the large and mid-sized market, which is Qarta’s most important revenue source.

A Primer on Buying Treasury Services

The Association for Financial Professionals published Standardized RFPs for Global Treasury Services, a set of guidelines to help corporate finance practitioners write requests for proposals for global treasury services.

The book is the third in a series from the trade group, and it costs $110.50 for AFP members and $135.50 for non-members. It includes questions that organizations can ask treasury services providers to evaluate their capabilities.

Standardized RFPs addresses services such as account structure, depository and collections services, liquidity management, global funds transfer, electronic banking and information reporting, and foreign exchange. The book also tells corporate treasurers how to assess service providers’ technical capabilities and their procedures for disaster recovery, implementation, and customer service.

Coffee Leaks

Cnet news reported that Sun Microsystems’ Java language is plagued by a security hole that could allow an attacker to run harmful programs on a victim’s computer.

The vulnerability appears in versions of the Java Runtime Environment that Sun released for servers running Microsoft Windows, Linux, and Sun’s Solaris operating systems, Cnet said. However, the company asserts that the flaw doesn’t affect the Java components included in Microsoft’s Internet Explorer and Netscape’s Navigator browsers.

Sun posted the bulletin to an Internet message board devoted to security issues on Wednesday, but it refrained from making an official comment, reported Cnet. The advisory stressed that, most likely, the flaw should affect only a few of the servers running Java.