Huge news!! - Vsource and Vitria Partner
Vsource and Vitria Partner to Deliver First Pure-Internet
eProcurement Solution
Leading eProcurement ASP and Vitria Enable Companies of Any Size to Automate Entire
Procurement Process for All Direct and Indirect Products and Services
VENTURA, Calif.--(BUSINESS WIRE)--Feb. 15, 2000-- Vsource Inc., provider of the first commercially available
transaction based pure-Internet eProcurement solution (OTCBB:VSRC - news), announced today the formation of a strategic
alliance with Vitria Technology Inc., a leading eBusiness platform provider (Nasdaq:VITR - news).
Vitria's eBusiness platform, BusinessWare, will enable any Vsource client's internal IT system to automatically exchange
procurement information and transactions with Vsource's eProcurement solution, Virtual Source Network (VSN), over the
Internet. Vitria BusinessWare significantly reduces the time and cost required for buyers and suppliers to plug into VSN and
enables the rapid formation of virtual trading communities for purchasing direct and indirect products and services.
Unlike current software based eProcurement solutions from other suppliers, Vsource's pure-Internet solution enables
companies of any size to lower the cost of purchasing products and services by eliminating the need to install expensive and
complex client-side software. Current eProcurement systems typically support only simple catalog-based procurement of
indirect products and services.
Vsource supports the entire procurement process -- including supplier sourcing, Request for Information (RFI) and Request
for Quotation (RFQ) processing -- for both indirect and direct products and services. Vsource's pure-Internet approach
provides companies of any size with a solution for eProcurement that can be implemented significantly faster than current
solutions, and with significantly lower risk and cost.
``Vsource offers an innovative new approach to eProcurement that we believe will enjoy broad appeal and rapid adoption
across multiple industries,' said JoMei Chang, CEO and president of Vitria. ``We are delighted that they have chosen Vitria
as the eBusiness platform that their clients will use to build eCommunities with their trading partners.'
Jay McShirley, Vsource CEO and Chairman, said, ``The Vitria/Vsource relationship will enhance the capability of Virtual
Source Network by simplifying the integration process.' McShirley continued, ``Clearly our clients will benefit from lower
cost, increased speed of integration and greater flexibility.'
About Vitria
Vitria Technology Inc. is a leading eBusiness platform provider. Vitria's eBusiness platform, BusinessWare, automates
mission-critical business processes across the extended enterprise, reducing time to market, shortening lead times, lowering
operating costs, and increasing customer satisfaction.
Vitria is a publicly traded company based in Sunnyvale, Calif. For more information, call 408/212-2700, visit the company's
Web site at www.vitria.com, or send email to info@vitria.com.
About Vsource
Vsource, headquartered in Ventura, provides the first pure-Internet solution for eProcurement. Its flagship product, Virtual
Source Network (VSN), allows companies to create an Internet-based procurement system to automate all aspects of
corporate procurement, such as material requisitions, RFP and RFQ, and direct order from supplier catalogs or contracts at
substantial savings. VSN accommodates electronic sending, receiving, approval and payment of supplier invoices. VSN also
supports a variety of private label and aggregated buying situations, such as vertical markets, reverse auctions and virtual
communities.
Vsource, in cooperation with PricewaterhouseCoopers LLP, Vitria Technology Inc., Corporate Express, and ZoomON Inc.
provides end-to-end procurement services for the entire purchasing process, all via the Internet. State-of-the-systems training
for VSN clients is provided through an agreement with IBM Learning Services of IBM. For further information, visit
vsource.net.
BusinessWare is a trademark of Vitria Technology Inc. All other names may be trademarks of the companies with which they
are associated.
This news release includes forward-looking statements that are subject to risks, uncertainties and other factors that could
cause actual results to differ materially from those referred to in the forward-looking statements. Such factors include, but
are not limited to, risk as related to market acceptance of Vitria's product, deployment delays or errors associated with these
products, hardware platform incompatibilities, reliance on a limited number of customers for a majority of revenue, need to
maintain and enhance certain business relationships with system integrators and other parties, ability to manage growth,
activities by Vitria and others regarding protection of proprietary information, release of competitive products and other
actions by competitors, Year 2000 problems and economic downturns in either domestic or foreign markets. These
forward-looking statements are generally identified by words such as ``expect,' ``anticipate,' ``intend,' ``believe,' ``hope,'
``assume,' ``estimate' and other similar words and expressions.
Contact:
For Vsource Inc.
626/564-9500
Linda Leavitt Bell ext. 221
Lbell@lbgcomm.com
Tiffany Massey ext. 224
tmassey@lbgcomm.com
or
Magnum Financial Group, LLC (for Vsource)
Michael Manahan, 213/488-0443
msmanahan@magnumfinancial.com
or
Vitria Technology
Alex Osadzinski, 408/212-2260
alexo@vitria.com
or
Access Communications (for Vitria)
Teddi Herman, 415/904-7070
therman@accesspr.com
More Quotes
and News:
Vitria Technology Inc (NasdaqNM:VITR - news)
VSOURCE INC (OTC BB:VSRC.OB - news) |
