Focusing Product Strategy Results in Impairment Loss
Today Jeeves uses a Microsoft-based platform for its ERP systems. If Jeeves ERP systems could be run on additional platforms, the number of potential partners and users would be greater. In anticipation of a future launch, the company reevaluated the platform project’s commercial potential and drew the conclusion that circumstances in the market had changed. At the same time, Jeeves sees ample potential in its current platform. Thus, the company has chosen to concentrate its development resources there.
“We are now choosing to focus future development on our current Microsoft-based platform, with which we have been very successful,” said Bengt-Åke Älgevik, CEO of Jeeves Information Systems.
The impairment loss is expected to have a positive tax effect of SEK 2.9 million.
Jeeves Information Systems AB develops Sweden’s most popular ERP system*. The products Jeeves Selected, Jeeves Universal, and Garp offer broad functionality at a cost of ownership among the lowest in the market. Customers currently include more than 4,000 companies in more than 40 countries. Since 1999, Jeeves has been listed on the small companies list of NASDAQ OMX Nordic Exchange (Small Cap). www.jeeves.se
* Exido IT Barometer 2009