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HERMES SoftLab and BluePhoenix Solutions Co-operating in Solutions for Adjustment of Information Systems to the Introduction of the Euro

Ljubljana, 14 June 2005 – The introduction of the euro in Slovenia, planned for 1 January 2007, requires substantial adjustments of information systems. HERMES SoftLab (www.hermes-softlab.com), which in recent years implemented several successful projects related to upgrading of IT systems in Slovenia and abroad will offer to the Slovene market solutions related to IT upgrades and transition to the euro in co-operation with BluePhoenix Solutions, one of the leading global companies in the field.

The introduction of the euro is primarily an operational problem, which also has a great impact on information systems, as key business processes in numerous organisations are based on IT infrastructure. Hence the introduction of the euro must in addition to business aspects also take into account IT aspects. Adjustment of IT systems is a complex task, as it requires transformation of software and databases in environments having numerous platforms and a whole range of technologies.

HERMES SoftLab has decided for a joint action in offering solutions for modernization of IT systems with the international company BluePhoenix Solutions because of their high level of expertise, prepared solutions, proven experience from many implemented projects and a number of references related to the introduction of the euro. Both companies will jointly offer Slovene organisations operating in banking, insurance, the public and private sector integrated solutions for transition of operations to the euro, which will include the following:

Approach and solutions, which will simplify and accelerate the transition to the euro and increase efficiency;

Proven methodology, ranging from project preparation, analysis to internal procedures, transformation of software and data elements, and testing;

The option for automated identification and definition of monetary contents and automated transformation of software code.

Peter Testen, President of the Managing Board of HERMES SoftLab: “The process of adjusting information systems to the introduction of the euro is a complex operation, not only from the technological point of view but also because of the required adjustments of business rules and internal processes. Organisations facing the transition to the euro will need a reliable and experienced partner, which can ensure that the appropriate adjustments will be successfully implemented by the planned deadline. Our ability to implement complex IT projects and our partner’s experience will undoubtedly provide them with just that.”

Selected references of the company Blue Phoenix related to transition of operations to the euro:
In insurance: AEGON – the Netherlands, Tranquilidade – Portugal, Segoros e Pensiones (SEP) – Portugal, Reale Mutua – Italy, Phoenix – Greece, Nationale Nederlanden – the Netherlands and MMA – France.
In banking and financial institutions: Caixa Geral de Depositos (CGD) – Portugal, FORD Bank – Germany and Auto Leasing Holland (ALH) – the Netherlands.

The two companies will jointly present the solutions for adjustment of information systems related to the introduction of the euro at the event “Euro Conversion Solutions Breakfast” to be held at the Grand Hotel Union in Ljubljana on Tuesday, 14 June. The event will include presentation of IT issues related to the introduction of the euro, and the introductory part will include the aspect of the Bank of Slovenia in the period between the accession to the EU and the introduction of the euro.