Red Wing Software Introduces Next-generation Ag-specific Financial Software

CenterPointTM gives agricultural producers the best value for versatile financial analysis tools that measure profitability and efficiency.

Red Wing, MN - September 6, 2005 - Agricultural producers will soon find a new, next-generation financial management software product from the leader in agricultural software. Red Wing Software announces a November 1, 2005 launch of CenterPoint(tm), a Microsoft® .NET(tm) based software package that is designed to provide progressive agricultural producers the best value and the most versatility for a suite of financial analysis tools.

CenterPoint goes beyond basic accounting to provide producers with management information that they can use to assess profitability and efficiency. Owners and managers have limitless ability to structure and segment entire operations, profit centers, accounts, and inventories to receive the most relevant and versatile reporting available in the Ag market today. This versatility in setup spans from choosing the information gathered about customers and vendors to the design of complex expense distributions across multiple profit centers and accounts. The individual producer decides the level of detail that they want to keep and analyze.

CenterPoint is positioned as the best value in agricultural financial management software. Ken Hilton, President of the company, says, "Producers can learn more about their cost of production than ever before. It empowers them to make smart business decisions and tighten up loose ends within their profit centers. The value of the information available far exceeds the users' investment in CenterPoint."

Red Wing Software has more than 25 years experience designing, developing, and supporting agricultural software products. Their utilization of the latest Microsoft .NET technology allows flexibility in connectivity, and provides unlimited opportunities for customer-driven development. That's what CenterPoint is all about, according to Jon Isackson, Product Manager, "It combines the benefits of our popular AgCHEK and Perception Accounting products, yet we've made improvements to the usability and added a level of versatility not matched in today's market. The entire project was driven by customer and industry focus groups."

CenterPoint is an easy to use double-entry accounting package. Screens are intuitive - checks look like checks - and the menu structure follows standard Microsoft® formats. In addition to the extensive reporting and analysis tools, it includes General Ledger, Accounts Receivable, Accounts Payable, Asset and Liability tracking, and Inventory Management functionality.

Additionally, producers can create 'what if' budget scenarios to determine future business strategies. The customizable Chart of Accounts helps organize input costs and other transactions for reporting by farm/business unit, profit center/commodity, production center, and/or production year.

Standard reports include Balance Sheets that can be run showing book value, market value, or modified cash value, and Income Statements and Cash Flows with the versatility to show actual-to-budget, year-to-date, and current year to previous year(s) for trend analysis. Other Ag-specific functionality includes tracking for two units of measure per inventory item, and the ability to keep books using both cash and accrual accounting methods simultaneously without entering information more than once.. This allows producers to generate cash reports for tax purposes and accrual reports for farm management.

A migration tool is available to provide current AgCHEK and Perception Accounting customers the option to seamlessly migrate their data into CenterPoint.

Red Wing Software, Inc., along with its nationwide network of business partners, offers industry-leading service, as well as training, on-site installation, and implementation of the software. Their vision is to create the best management software experience through personal support and attention to customers' business goals.

To learn more, visit www.redwingsoftware.com and click on News > Newsroom to find an electronic Press Kit, including: full product brochure, positioning statement, The Evolution of Financial Management Software for Agriculture, and a company fact sheet. We are showcasing the product at several trade shows and meetings, including the World Dairy Expo in Madison, WI, October 4-8, 2005. Please stop by Booth #125 to see a demo, or to schedule a personal meeting and interview.

You may also contact us at 800-732-9464 or e-mail info@redwingsoftware.com to learn more.

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