SANTA BARBARA, Calif. — October 12, 2017 — QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB), a leading provider of enterprise software and services for global manufacturing companies, today announced the availability of the next phase of its Channel Islands user experience initiative and enhancements to the company's enterprise resource planning (ERP) software applications and related solutions.
"This is a very comprehensive update," said Bill Keese, senior vice president of research and development at QAD. "We continue to roll out our Channel Islands initiative, which includes a new version of our Action Centers. In addition, we have improved our cloud and on-premise ERP solutions and each of our related solutions with a wide range of new features and functionality — much of which was developed in partnership with our customers."
The multiphase Channel Islands initiative gives customers an attractive, intuitive and device-independent user experience that can be personalized for roles, tasks and individual employees. The latest phase, referred to as Santa Rosa 2, continues QAD's focus on enabling the Effective User with new functionality in the sales, service, requisitioning and purchasing areas. Channel Islands Santa Rosa 2 highlights include:
- Updated Action Centers that give managers quick access to key metrics, embedded analytics and the ability to turn reports and browses into key performance indicators (KPIs).
- QAD Supplier Portal now runs on the Channel Islands architecture, providing an excellent user experience, the ability to personalize and enhanced security while enabling increased collaboration between QAD customers and their suppliers.
QAD adds a wide range of enhancements to QAD Cloud ERP and QAD Enterprise Applications, including:
- Customer/Supplier Schedule Release Comparison Reports enables the analysis of demand to determine if demand contract agreements have been met.
- New Supplier Time Window functionality helps customers smooth out production between daily deliveries and improves inventory management.
- Retroactive Purchase Pricing delivers price adjustment management for scenarios such as part revisions, commodity price fluctuations, volume issues or family item price breaks.
- Supplier Milk Run helps customers reduce freight and planning costs by automating and optimizing truckload planning processes and aligning procurement to production needs.
- QAD Financials adds 11 customer-requested enhancements, including the ability to automatically obtain exchange rates from a service provider and schedule them to be updated within the system.
- The QAD Internationalization program, which addresses country and local regulatory changes for financial reporting and taxation purposes, adds enhancements for China, Brazil and Japan. QAD also introduced four new country extensions, bringing the number of countries supported to 61.
- QAD TMS (Transportation Management System) added a freight bill audit and pay module allowing customers to capture the actual cost of their shipping activities and continued to expand the carrier network.
- QAD QMS (Quality Management System) features a new HTML 5 user interface that provides increased performance, additional browser support and increased stability. Made over 80 enhancements to support compliance with IATF 16949:2016 automotive risk management standard. Also updated module templates and added the ability integrate systems using REST APIs.
QAD has also launched two new modules:
- Revenue Recognition, which includes requirements for existing standard revenue recognition practices and advanced requirements specific to ASC 606/IFRS 15.
- QAD PRO/PLUS Advanced Self-Billing, which allows suppliers to process customer-generated invoices for goods and products that they have received from that supplier. This allows automotive tier one suppliers to support the self-billing practice mandated by original equipment manufacturers (OEM's) and reduce costs and processing time by eliminating invoice inaccuracies.
"This is a very comprehensive release that speaks to QAD's commitment to continuous improvement," said Keese. "We've added a wide range of new or enhanced ERP features, made numerous improvements to our related solutions and continued to expand our Internationalization program. Change is a fact of life in our customers' industries and QAD is committed to providing agile solutions that help our customers react quickly to change and keep their business processes aligned with their business strategy."
About QAD – The Effective Enterprise
QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB) is a leading provider of enterprise software and services designed for global manufacturing companies. For more than 35 years, QAD has provided global manufacturing companies with QAD Enterprise Applications, an enterprise resource planning (ERP) system that supports operational requirements, including financials, manufacturing, demand and supply chain planning, customer management, business intelligence and business process management. QAD Enterprise Applications is offered in flexible deployment models in the cloud, on-premise or in a blended environment. With QAD, customers and partners in the automotive, consumer products, food and beverage, high technology, industrial products and life sciences industries can better align daily operations with their strategic goals to meet their vision of becoming more Effective Enterprises.
For more information about QAD, call +1 805-566-6000, visit www.qad.com.
"QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.
Note to Investors: This press release contains certain forward-looking statements made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding projections of revenue, income and loss, capital expenditures, plans and objectives of management regarding the Company's business, future economic performance or any of the assumptions underlying or relating to any of the foregoing. Forward-looking statements are based on the company's current expectations. Words such as "expects," "believes," "anticipates," "could," "will likely result," "estimates," "intends," "may," "projects," "should," "would," "might," "plan" and variations of these words and similar expressions are intended to identify these forward-looking statements. A number of risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. These risks include, but are not limited to: risks associated with our cloud service offerings, such as defects and disruptions in our services, our ability to properly manage our cloud service offerings, our reliance on third-party hosting and other service providers, and our exposure to liability and loss from security breaches; demand for the company's products, including cloud service, licenses, services and maintenance; pressure to make concessions on our pricing and changes in our pricing models; protection of our intellectual property; dependence on third-party suppliers and other third-party relationships, such as sales, services and marketing channels; changes in our revenue, earnings, operating expenses and margins; the reliability of our financial forecasts and estimates of the costs and benefits of transactions; the ability to leverage changes in technology; defects in our software products and services; third-party opinions about the company; competition in our industry; the ability to recruit and retain key personnel; delays in sales; timely and effective integration of newly acquired businesses; economic conditions in our vertical markets and worldwide; exchange rate fluctuations; and the global political environment. For a more detailed description of the risk factors associated with the company and factors that may affect our forward-looking statements, please refer to the company's latest Annual Report on Form 10-K and, in particular, the section entitled "Risk Factors" therein, and in other periodic reports the company files with the Securities and Exchange Commission thereafter. Management does not undertake to update these forward-looking statements except as required by law.