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EDMONTON, June 30 - Serenic Corporation, an international publisher of financial and operational software, announced today that it has entered into a business arrangement with Microsoft Corporation to be the Industry Solutions Vendor (ISV) for payroll software and related services for customers who use Microsoft Dynamics NAV within North America.
This arrangement, the terms of which are confidential, replaces and progresses the original June 2001 OEM agreements for the U.S. and Canada between Serenic's subsidiary Vision Pay, Inc. and the Navision U.S. and Canadian companies, (as subsequently assumed by Microsoft Corporation when it acquired Navision in 2003).
"As a result of today's announcement, Serenic looks forward to better serving the large and diverse community of Dynamics NAV payroll users, as well as our nonprofit and public sector customers," said Jay Malik, Serenic's president and CEO. "We have been the developer of the Dynamics NAV payroll and human resources products for five years. Now, through direct client and partner interaction, we will be able to bring even greater functionality and technological innovation to customers at an accelerated pace. In addition, we intend to make the payroll and human capital management software easier to sell, implement and support for Microsoft Dynamics NAV resellers, realizing the key to scalability is in increasing the products' value within our partner channel."
"Microsoft reached the decision to change its strategy regarding the delivery of Payroll and Advanced H/R functionality for Dynamics NAV for several reasons, and Serenic was the natural choice of partners to assume such responsibility," said Bill Sanders, director of product strategy for Microsoft Dynamics NAV. "Serenic assumes responsibility for all tasks and functions necessary to provide payroll solutions for Dynamics NAV effective July 1, 2006, including software development, product enhancements, marketing, distribution, sales, training, and support. As part of the customer care initiatives, Serenic will assume and honor all software maintenance agreements currently in place between Dynamics NAV payroll users and Microsoft. Based upon Serenic's proven ability, deep experience, and specialized knowledge of payroll and human resource management, Microsoft is confident that its partners and customers will continue to be served well and enjoy a world-class solution from one of our leading and proven ISV partners."
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For Payroll and Human Resource Professionals
