EYT Launches Hosted Financial Application

CHANTILLY, VIRGINIA (09/15/2000) - EYT, formerly known as Ernst & Young Technologies Inc., this week introduced a hosted financial reporting application service targeted at start-up firms.

The service, called GoFinancials, is based on Lawson software and is the first offering in EYT's GoEYT suite. GoEYT will ultimately include other Lawson-based services for start-ups.

Although GoFinancials is EYT's first application service provider product, Brad Osborne, EYT's vice-president of solutions development, explains EYT has been offering Lawson-based services to large enterprise customers of the Cap Gemini Ernst & Young Group for about two 2 years.

"The idea of Go is to have an entry point to a robust ERP environment and to provide growing companies a growth path," Osborne says.

Osborne describes GoFinancials as a very standardized offering providing specific financial functions that would be required by a start-up. These include basic bookkeeping functions, reports and formats suitable for auditors and line-of-business-based reports for investors.

GoFinancials can be set up in as little as one day and shouldn't take much more than a week in the most complicated cases, Osborne says.

The service is accessed over the Internet with Explorer 4.0 or better. Although Osborne says a dial-up connection would work with GoFinancials, he recommends a fractional T-1 connection or better.

EYT is using Equinix data centers to house GoFinancials, which runs on IBM Corp.'s AIX Unix.

Implementation costs for GoFinancials can vary from nothing to several thousand dollars. The service costs $600 per month with each additional user costing $200 per month.

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