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Aug 10, 2011

Orascom Holding to Cut Budgeting and Reporting Time by 50 Percent with Infor

Infor10 Corporate Performance Management to Drive Consolidation, Planning, Budgeting, and Reporting for Orascom's 115 subsidiaries.

Infor, a leading provider of business application software serving more than 70,000 customers, today announced that Orascom has deployed Infor10 Corporate Performance Management (PM10) at its head office in Cairo. The solution will provide financial planning, budgeting, reporting, and consolidation for its 115 subsidiaries, increasing accuracy, visibility, profitability, and efficiency.

The Infor financial products deployed at Orascom's offices include Infor10 Corporate Performance Management (PM10) and Infor10 Financials Business (SunSystems) for financial management.

"The centralized data system provided by Infor is a welcome relief to Orascom, as we can now consolidate the financial as well as non financial data of all our subsidiaries and use readily available tools for analytics and reporting," said Mahmoud Zuaiter, SVP Chief Financial Officer, Orascom. "With Infor Corporate Performance Management, we expect to reduce our time taken for budgeting and reporting by more than half. Furthermore, system adoption by existing and new staff will be rapid, as the system is very easy to use."

"We have already worked extensively with Orascom over the last six years to successfully deploy SunSystems across its Middle East operations. Now strong financial performance management is the next step towards excellence," said Maged Taha, Senior Applications Marketing manager, ACT. "While using external auditing agencies has proved long and tedious to date, we expect Orascom to see an immediate ROI due to the automated data capture and the minimal staff required to use the system."

"With cautious optimism growing in the Middle East market, financial information is of utmost importance now more than ever. We are thrilled to have deployed Infor's Corporate Performance Management solution across the construction, real estate and hospitality industries of Orascom Holding," said Paul Hammond, Middle East general manager, Infor. "Infor's Corporate Performance Management solution will provide timely and accurate financial information, with thorough analytics in real time as well as during statutory and regulatory reporting periods."

Infor Corporate Performance Management will help centralize and automate the capture of financial data across Orascom's 115 subsidiaries all over the globe, incorporating Orascom Development Holding.

Infor's channel partner, ACT, worked with Orascom to provide support, project management and consultancy services in order to help tailor the solutions to the needs of the real estate and construction, tours operation, town management, and hospitality sectors within Orascom.

Infor Corporate Performance Management is a comprehensive solution that includes strategic management tools, planning and budgeting, forecasting, financial consolidation, and reporting and analysis. It will enable Orascom to use a variety of planning methodologies and 'what if' scenarios, as well as help create realistic budgets and accurate forecasts, identify trends, and increase confident reporting to stakeholders and decision makers.

Corporate Performance Management's analytical reporting tool provides dashboards to clearly define and communicate the status of a project and identify Key Performance Indicators in each country and collectively at a group level.

Infor10 Financials Business (SunSystems) will help Orascom meet local and international standards for financials and provide flexible comprehensive business analysis with integrated business analytics.