SAN MATEO, Calif., June 13, 2006 (PRIMEZONE) -- Aceva Technologies, a leading provider of applications for enterprise cash flow performance management, today announced that Gibraltar Industries, Inc. (Nasdaq:ROCK), a leading manufacturer, processor and distributor of metals and other engineered materials, has selected Aceva to help them improve customer service levels, and accelerate collections to drive down DSO and unlock working capital.
A fast-growing metal products manufacturer with projected 2006 revenues of $1.4 billion and multiple acquisitions under its belt, the company needed to manage its rapid growth by quickly consolidating its infrastructure across newly acquired companies, without increasing the credit and collections staff. Additionally, because the company is comprised of three separate business segments and numerous operating units, Gibraltar recognized that they needed to have a consolidated view of customer requirements across all business segments in order to ensure optimum customer service levels.
"Aceva's solution and collaborative approach were an excellent fit for Gibraltar," said Dave McCartney, corporate vice president of information services of Gibraltar Industries. "We anticipate the financial and service-oriented benefits from the Aceva system will significantly help us in our ongoing growth initiatives."
While primarily focused on consolidating the management of customer accounts, unlocking working capital and reducing DSO, Aceva will also help Gibraltar:
-- Integrate information management between existing financial and
order entry systems
-- Improve continuity of operations
-- Enable more efficient cash management
-- Enable a more effective work environment
-- Ensure more accurate credit decision-making
"World-class organizations are looking to improve capital efficiency across their operations," said Sanjay Srivastava, chief operating officer of Aceva. "As a result, the finance function is being asked increasingly to unlock capital currently sitting in accounts receivable balances. We are dedicated to helping companies like Gibraltar lead their industries with products that enable these initiatives."
About Gibraltar Industries
Gibraltar Industries is a leading manufacturer, processor, and distributor of metals and other engineered materials for the building products, vehicular, and other industrial markets. The company classifies its operations into three segments: Building Products, Processed Metal Products, and Thermal Processing (Heat Treating). Gibraltar serves approximately 24,000 customers in a variety of industries in all 50 states, Canada, Mexico, Europe, Asia, and Central and South America. It has approximately 4,400 employees and operates 93 facilities in 29 states, Canada, Mexico, and China. More information can be found at www.gibraltar1.com.
About Aceva
Aceva Technologies is a leading provider of software solutions for enterprise cash flow performance management. Aceva's solutions directly address quote-to-cash process breakdowns, quality issues, and automation requirements by delivering global financial visibility, continuous business policy monitoring, comprehensive process automation and workflow, as well as robust reporting and analytics. As a result, customers are able to optimize financial performance and working capital, improve operational excellence and customer satisfaction, and comply with internal controls and regulatory requirements.
Headquartered in San Mateo, California, Aceva's customers include Avaya, BP, Chiquita, Honeywell, Network Appliance, and Sprint. For more details, visit www.aceva.com, send email to info@aceva.com or telephone (650) 227-5500.
Aceva is a trademark of Aceva Technologies, Inc. All other trademarks and company names mentioned are the property of their respective owners.