SOURCE: Flexi Software

November 13, 2007 07:05 ET

Ferrari Financial Services Selects Flexi Software

Exotic Car Financial Services Provider Is Up-and-Running With FlexiPayables and FlexiLedger

NAPLES, FL--(Marketwire - November 13, 2007) - Flexi (PINKSHEETS: FLXI), a provider of world-class accounting software and services, announced today that Ferrari Financial Services, Inc., the captive finance company for Ferrari North America, Inc., has implemented FlexiPayables and FlexiLedger, modules available within the FlexiFinancials Suite.

Ferrari Financial Services was looking to implement a new accounting system. A recently created entity, they had no existing accounting systems in place but had to meet the stringent requirements of their parent company in Italy. Ferrari Financial Services needed the ability to follow the GAAP and IAS guidelines.

"Flexi was recommended to us by another global financial services organization that had just rolled out Flexi solutions in 38 countries," said Ferrari Financial Services General Manager Tom Vitale. "We saw that Flexi's products could do precisely what we would need them to do for our business."

Flexi's open architecture allows for easy integration with Ferrari Financial Services' other technologies such as their leasing, invoicing, and collections solutions.

"We were able to get Ferrari Financial Services up-and-running with the Flexi products in about 30 days," said Flexi Chairman and CEO Stefan R. Bothe. "We look forward to working together with Ferrari Financial Services to ensure that all their accounting needs are met."

Last year, Flexi began supplementing its successful partnership sales program with a direct sales effort into the Banking, Insurance, and Financial Services industries. In addition to Ferrari Financial Services, Flexi recently welcomed Eastern Financial Florida Credit Union, Federal Home Loan Bank of Topeka, Hills Bank, Superior Bancorp, and City Holding Company as new customers, as well as assisted a global financial services company in rolling out Flexi products in 38 countries.

About Ferrari Financial Services

Ferrari Financial Services was launched in July 2007. Based in Englewood Cliffs, NJ, Ferrari Financial Services offers retail financing and leasing to Ferrari customers through their network of authorized Ferrari Dealers in the United States. Utilizing a wide range of personalized flexible financial programs, FFS provides vehicle financing from the current model range to Formula 1 single-seaters and classics. For information, visit www.ferrariusa.com.

About Flexi

Founded in 1991, Flexi develops, markets, and supports the Flexi suite of financial and accounting software that helps companies streamline their accounting processes. Flexi's system integrates easily with other systems, and provides powerful and flexible accounting capabilities. The fully integrated suite includes modules for General Ledger, Accounts Payable, Accounts Receivable, Fixed Assets, Purchasing, Capital Projects, and more. For information, visit www.flexi.com.

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