STAMFORD, Conn., Aug. 21, 2007 (PRIME NEWSWIRE) -- BIO(r) Analytics Corp. (www.businessready.com), a software development company focused on delivering business intelligence (BI) solutions designed specifically for the mid-market, today announced an agreement to provide Langer, Inc. with a business intelligence solution and services that will enable Langer to consolidate its financial results and manage performance across their operating companies, divisions and product lines. Langer, together with its wholly owned subsidiaries Silipos, Inc. and Regal Medical, Inc., is a leading provider of high quality medical products and services targeting the long-term care, orthopedic, orthotic and prosthetic markets. Through its wholly owned subsidiaries Twincraft, Inc. and Silipos, Inc., Langer offers a diverse line of bar soap and other skincare products for the private label retail, medical and therapeutic markets.
"Langer is a rapidly growing company, both internally and through acquisition, with sales approaching $100 million," said Chris Limbert, Chief Financial Officer, Langer, Inc. "With each acquisition, we are adding another chart of accounts and system to the diverse array we have already. None of our current systems were amenable to diverse account translation and consolidation that is essential to corporate reporting. We were consolidating and reporting through a variety of linked Excel spreadsheets. With our growth, we became increasingly aware of the difficulty, the absence of flexibility, the negative impact on accounting productivity, and the timeliness of our reporting in our corporate consolidation and reporting process. Further, we had no access to our subsidiaries' data to effectively report key and timely information to our management beyond the inflexible consolidating financial statements we were producing."
"BIO Analytics was perfect for us," added Limbert. "In Stage I of our implementation project, we have simply and rapidly designed a process to upload and translate fully closed subsidiary trial balances, greatly enhancing our productivity and reporting timeliness. In Stage II, using BIO, we will improve our reporting and dip down automatically into our subsidiaries' general ledgers to gain additional source information for a whole variety of management reporting. BIO Analytics is the ideal vehicle for our middle market company -- not nearly as expensive as the Tier I providers or a company-wide enterprise management system, yet providing nearly all of their functionality, with a near-template approach that helps with productivity and prevents 'reinventing the wheel.'"
Under the agreement, BIO Analytics will configure and deploy BIO(r) Consolidations and Microsoft Dynamics(tm) SL to create a scalable technology platform for consolidating financial data from the ten different General Ledger systems implemented across Langer's subsidiary companies, generating consolidated financial reports, standardizing the budgeting process and improving operational performance. In addition to technical implementation, BIO Analytics will provide consulting services on business process and design.
"BIO Consolidations was designed with clients like Langer in mind that operate in the middle market." Dan Schwartz, President, BIO Analytics Corp., said, "In addition, Langer wants a solution that can be up and running in a matter of weeks, is not prohibitively expensive for a company its size and can expand beyond consolidations into operational analytics and provide a business intelligence platform. BIO Consolidations, combined with Microsoft Dynamics SL, will create a hub-and-spoke model that leverages Langer's existing investments in finance and accounting systems to meet all of the company's goals -- and at a fraction of the cost of other Tier 1 offerings."
About BIO Analytics Corp.
Founded by Daniel Schwartz, CPA, MBA, a leading expert on business intelligence (BI) and analytics, BIO(r) Analytics Corp. focuses on developing BI software for middle market companies. BIO(r), the company's flagship analytics solution, helps companies increase organizational efficiency and improve business performance, revolutionizing the way they leverage financial and operational data. Visit www.businessready.com to find out more about BIO Analytics Corp.'s business-ready BI solutions.
About Langer, Inc.
Langer, Inc., together with its wholly owned subsidiaries Silipos, Inc. and Regal Medical, Inc., is a leading provider of high quality medical products and services targeting the long-term care, orthopedic, orthotic and prosthetic markets. Through its wholly owned subsidiaries Twincraft, Inc. and Silipos, Inc., the Company offers a diverse line of bar soap and other skincare products for the private label retail, medical and therapeutic markets. The Company sells its medical products primarily in the U.S. and Canada, and in more than 30 other countries, to national, regional, international and independent medical distributors and directly to healthcare professionals and patients. The Company sells its personal care products to branded consumer products companies, direct marketers, distribution partners, and specialty retailers, among others. Langer is based in Deer Park, NY and has additional manufacturing facilities in Niagara Falls, NY, Winooski, VT, Montreal, Canada, Stoke-on-Trent, UK, and sales and marketing offices in Toronto, Canada, Dallas, TX and New York, NY.