TechnoServe selects Serenic Navigator to help improve lives through economic growth opportunities

EDMONTON, Oct. 8, 2008 (Canada NewsWire via COMTEX) -- TSX Venture Exchange Symbol "SER"

Serenic Corporation (SER), ("Serenic" or the "Corporation"), a leading publisher of financial management and business operations software for nonprofits, international non-governmental organizations (NGOs) and the public sector, announced today that Serenic Navigator and integrated business operations solutions have been selected by TechnoServe, an internationally recognized leader in the field of economic development that finds business solutions for rural poverty.

TechnoServe's mission is to help entrepreneurial men and women in poor, rural areas of the developing world build businesses that create income, opportunity and economic growth for their families, their communities and their countries. Since its founding in 1968, TechnoServe's work has led to the launch or expansion of thousands of businesses and transformed the lives of millions of people in more than 30 countries. In August, Time magazine featured TechnoServe's work with coffee farmers as an example of how capitalism can be harnessed to help improve the lives of poor people.

In 2007, TechnoServe helped 706 businesses achieve total sales of $149Â million. With 500 of its own employees in 19 countries, TechnoServe was in need of a true nonprofit solution that could help it better manage its growing organization internationally.

"Our existing software did not give users the ability to manage grants, multicurrency and separate international sites with synchronization," said TechnoServe Chief Financial Officer, James Nehmer. "Serenic's integrated solution will create efficiencies, and its grant management application will be especially helpful for our organization's needs."

TechnoServe received a credit on the purchase of Serenic Navigator, which is embedded in Microsoft Dynamics NAV, because they were replacing a Great Plains system, another product in the Microsoft Dynamics family. Thirty-one users will access Serenic Navigator Advanced Management Edition - certified for Microsoft Dynamics NAV - as well as other applications within the Navigator extended product suite, including, AwardVision and Advanced Budgeting. The fully integrated product suite will allow the organization to combine financials, procurement and grant management. TechnoServe will use Serenic Portals to connect its remote locations, providing online account information across the globe.

"Serenic's off-the-shelf features built specifically for non-profit organizations require little customization for multi-national implementations," said Serenic CEO and President Randy Keith. "With Navigator quickly simplifying its business processes, the organization can be more effective and efficient in managing its resources, which is part of its commendable core mission."

TechnoServe is leading a movement that empowers people in the developing world to build businesses that break the cycle of poverty. Growing enterprises generate jobs and other income opportunities for poor people, enabling them to improve their lives and secure a better future for their families. The Financial Times has rated TechnoServe one of the top five NGOs for corporate partnerships. Charity Navigator has also awarded its highest Four Star ranking to TechnoServe. Visit www.technoserve.org for more information.