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Legendary Auction House Phillips, de Pury & Luxembourg Selects Cetova's C-FARTM Financial Analysis and Reporting Platform
September 24, 2002 -- Jersey City, New Jersey -- Cetova Corporation (www.cetova.com) today announced that the auction house of Phillips, de Pury & Luxembourg has selected C-FAR (Cetova Financial Analysis and Reporting) software as its exclusive financial reporting and business intelligence solution. Now headquartered in New York City, Phillips was founded in London in 1796 and by the beginning of the nineteenth century was selling some of the most important collections in Europe. According to Patrick Meehan, Phillips' chief technology officer and VP of business development, "The reason C-FAR was selected over competing reporting and business intelligence solutions was its unique ability to extract real time financial reports and provide analytics directly from Phillips' J.D. Edwards ERP system. This feature eliminated the steep costs of implementing and maintaining a data warehouse and business intelligence platform. In addition, C-FAR will seamlessly link with custom developed auction software to enable Phillip's financial staff to easily produce consolidated reports from the ERP and auction systems. No one else had these capabilities." Brian O'Kelley, Cetova's executive vice president added that "C-FAR provides real time report generation for faster decision-making; seamless integration with major ERP systems; assured accuracy with account and report validation; elimination of manual processes, and robust security." Maintenance and user training requirements are minimal, according to the company. About Cetova Corporation Cetova builds reporting software that eliminates expensive, time-consuming reporting cycles while improving accuracy and reliability. Pilot projects with companies such as Louis Vuitton (luxury goods), Lenox (china and collectibles), and Ausimont (chemicals) have demonstrated the quality of the Cetova product line. Cetova Analytical Applications are tightly focused tools that solve real-world problems. Without the overhead or maintenance costs of data warehouses or traditional OLAP- and SQL-based products, Cetova Analytical Apps connect directly to transactional and historical data. Featuring seamless integration with major ERP and CRM packages, Cetova products can be installed and running in less than 30 days. The first Cetova Analytical Application, Cetova Financial Analysis and Reporting (C-FAR) for J.D. Edwards ERP solutions, was demonstrated at the FOCUS 2002 conference in Denver in June 2002. In 2001, Cetova Corp. was spun-off from GL Associates, an elite business systems consulting firm with an impressive client list. Building from 22 years of GL Associates' proven consulting methodology for fortune 500 companies, Cetova Corp. has developed a revolutionary reporting platform. About Phillips, de Pury & Luxembourg PHILLIPS was founded in London in 1796 and by the beginning of the nineteenth century was selling some of the most important collections in Europe. PHILLIPS was acquired by LVMH Moët Hennessy Louis Vuitton in 1999, and merged with world-leading art dealers de Pury & Luxembourg Art in 2001. Simon de Pury and Daniella Luxembourg took majority control of PHILLIPS, de PURY & LUXEMBOURG in 2002, and continue to partner with LVMH Moët Hennessy Louis Vuitton and other investors. PHILLIPS, de PURY & LUXEMBOURG is headquartered in New York, with offices in Berlin, Geneva, London, Munich, Paris and Zurich. PHILLIPS specializes in the sale of Impressionist, Modern, Contemporary, American and Swiss Art, Magnificent Jewels, Magnificent Watches, European Furniture, 20-21st Century Design, and Photographs. PHILLIPS conducts auctions in New York through a branch of Phillips Son & Neale Auctions Limited, a United Kingdom corporation. |