28 May 1998
SAPIENS LAUNCHES EURO SOLUTION FEATURING UNIQUE WRAPPING TECHNOLOGY
Research Triangle Park, NC-May 28, 1998-Sapiens
International Corporation N.V. (NASDAQ: SPNSF) today
announced the official launch of its Euro solution,
featuring the 'Euro-Virtual-Machine' ("E-V-M") software
wrapping technology. This follows a series of local launch
activities in France, Italy, Spain and the UK, in which the
technology and methodology were demonstrated. Sapiens has
filed a software patent application for its E-V-M
On May 2, 1998 the eleven initial member states of the
European Monetary Union (EMU) formally announced a plan for
the adoption of a single European currency, the Euro.
Organizations within participating countries must modify
their single-currency systems to behave as dual-currency
systems for the duration of a three-year transition period
before full adaptation to the single Euro currency in 2002.
The challenge is to enable a smooth transition while
limiting cost and time-to-market.
The first phase of the Euro transition will begin on January
1, 1999 and entails software adaptation costs that are
estimated by Gartner Group to exceed $150 billion. Sapiens
is one of the few solution providers that have developed a
comprehensive solution and technology for the Euro issue.
The E-V-M wrapping technology enables MVS-based application
screens and reports to behave as if they were dual-currency
without altering any source code. E-V-M also operates as an
effective bridging solution during data conversion to the
Euro; and a solution to the decimal point problem in the
member countries where it applies. When E-V-M is not needed
anymore, its rule-based engine is simply switched off.
Referring to the most critical problem imposed by the Euro
conversion, Rob Schafer, Meta Group Program Director,
Europe, comments on the Sapiens Euro solution: "In the
context of the looming dual deadlines of Y2K and Euro
conversion, users' top priority over the next 21 months will
be expediency. Specifically, for users doing business in the
11 initial countries of the European Monetary Union,
Sapiens' Euro solution can be an effective, practical means
to solve IT's toughest EMU challenge: the three-year Euro
About Sapiens Euro
Sapiens Euro is an integrated set of tools and methodologies
that address the entire Euro conversion lifecycle including
assessment, analysis, configuration mapping, wrapping, data
and code conversions, re-engineering, project management and
testing. The Sapiens Euro includes the Company's unique
Euro-Virtual-Machine, a wrapping engine that enables
end-users to adapt their applications to the Euro while
leaving source code and data stores virtually untouched.
This makes Sapiens a 'one-stop-shop' for a wide variety of
Euro projects in Europe and all over the world.
Sapiens is a leading provider of enterprise-wide solutions
for the rapid development of scalable, mission-critical
software applications. The Company provides comprehensive
software solutions that substantially improve software
developer productivity, reduce the cost of building and
maintaining software applications, and preserve investment
in legacy systems. These solutions integrate the Company's
core rules-based, object-oriented technology, efficient
rapid application development (RAD) methodology, and
comprehensive consulting expertise. The Company's solutions
also are targeted at specialized software redevelopment
problems, such as those related to the year 2000 and the
adoption of a single European currency.
The Company provides solutions to organizations in a broad
range of industries worldwide. The Company markets through
its direct sales force, distributors, value-added resellers
and system integrators. Representative customers of Sapiens
include AGF/SI, General Accident Insurance Group, Guardian
Royal Exchange, IBM, International Paper, Principal
Financial, and Siemens Energy & Automation. Information
about Sapiens and its products is available on the World
Wide Web at http://www.sapiens.com.
# # #
Except for historical information contained herein, the
matters set forth in this release are forward-looking
statements that are dependent on certain risks and
uncertainties, including such factors, among others, as
market acceptance, market demand, pricing, changing
regulatory environment, changing economic conditions, risks
in new product and service development, the effect of the
company's accounting policies and other risk factors
detailed in the Company's SEC filings.
This press release was distributed by ResponseSource Press Release Wire on behalf of Pleon in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.