TPII ! Big, Big News ! ******* Tuesday October 27, 8:09 am Eastern Time
Company Press Release
Transformation Processing and IBM Form Alliance to Penetrate Customer
Relationship Management Market
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Oct. 27, 1998--Transformation
Processing Inc. (TPI)(OTC BB:TPII) announced today it has formed a
marketing alliance with IBM's Software Vendor Marketing Partnerships
that will focus on the high-growth customer relationship management
(CRM) marketplace.
CRM is the concept whereby an organization takes a comprehensive view of
its customer to maximize the customer's relationship with an
organization and the customer's profitability for the company. Gartner
Group's Dataquest estimates that less than 20 percent of this market has
been penetrated in the United States - with the European and
Asia/Pacific markets virtually untapped - demonstrating the belief that
there is no clear cut market leader to date. The Gartner Group estimates
the CRM market space will grow at a compounded annual growth rate (CAGR)
of 44 percent by the year 2002.
Gary G. McCann, TPI's Executive vice president states, ''We are
extremely excited and pleased that a company like IBM would choose TPI
to help them penetrate the North American market with their suite of
solutions. IBM recognizes the potential that CRM provides and also
recognizes that TPI has two years experience in this budding industry.
TPI also expands its market now that it can offer solutions beyond the
Lotus Notes world through this alliance with IBM. Through leveraging the
marketing arm of IBM, TPI's exposure will be heightened significantly as
we continue to gain a reputation in this industry as a leader in
providing CRM solutions.''
IBM creates, develops and manufactures the industry's most advanced
information technologies, including computer systems, software,
networking systems, storage devices and microelectronics. IBM is
headquartered in Armonk, NY, with operations in more than 160 countries.
Transformation Processing Inc. is an Information Technology company that
develops and markets software and services that enable companies
worldwide to automatically migrate their application programs and data
from legacy systems to open system and client/server environments. TPI
has evolved from providing AS/400 legacy code migration services to a
company supporting four lines of business: Client Server Migration, Year
2000 IT and embedded solutions, Groupware Services (i.e. Sales
Automation, Customer Relationship Management and Lotus Notes) and
Support Services.
This news release includes forward-looking statements that involve risks
and uncertainties, including the timely development and acceptance of
new products, the impact of competitive products and pricing, the timely
funding of customer's projects, customer payments to the Company and
other risks detailed from time to time by the Company on the SEC
reports.
For more information about TPI, see our web site at www.tpii.com, or
www.softart.com.
IBM is a registered trademark of International Business Machines
Corporation.
------------------------------------------------------------------------
Contact:
Martin E. Janis & Company Inc.
Media Contact: Hal Schweig
Investor Contact: Jim Janis/Bev Jedynak
312/943-1100
------------------------------------------------------------------------
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