Multiple signs deal to boost financial gains

A fast growing financial management software supplier has won a £500,000 contract with Specsavers Optical Group to provide an extended financial management to increase efficiency across the Guernsey-based business.

Specsavers will integrate its financial processes through Cedar Open Accounts, including its head office departments, all regional offices and its 745 stores.

The aim is to improve financial reporting, as well as streamline procurements, expenses management and replacement of paper-based processes.

Specsavers reviewed its entire financial processes earlier in 2005 and as part of this its financial software.

Karen Dicks, Specsavers' director of finance, said: 'We chose Cedar Open Accounts following an extensive market review, because the company's extended finance approach and "can do" attitude closely supports our ambitions to become a world class financial organisation.'

Cedar Open Accounts has supplied Specsavers with its central accounting software for seven years prior to the company's decision to review.

The new contract will increase the number of  users, as well as introducing a further 4,000 to 'the solution's workflow'. The system is expected to be in place by the autumn.

The company claims to be the UK's fastest growing financial management software supplier. It was formed from the merger of CedAr Software and Open Accounts Plc in May 2004.

Based in Cobham, Surrey, it has more than 400 staff and has 1,200 clients from across the globe including Newcastle City Council, WH Smith, Royal Bank of Scotland, Aer Lingus, National Express Group, The Leonard Cheshire Foundation and the Chesterfield Primary Care Trust.

Earlier this month optician reported that Specsavers Opticians had won a global prize for its information technology (News, July 1).