One more article. You think this will do anything? Just came out today right about the time that the market closed.
QCSC 3.000 , + 0.750
News
/C O R R E C T I O N -- QCS.net/
Wednesday, July 7, 1999 12:13 PM Mail this article to a friend
In SFW025, "Promodes Expands Use of the QCS.net Service to Perform Pre-Order Sourcing Activities Via the Internet With Suppliers Worldwide," moved earlier today, we are advised by the company that the second graph, sixth line should read "Promodes' international buying company" rather than "Promodes' central buying company," as originally issued.
MOUNTAIN VIEW, Calif., JULY 7 /PRNewswire/ -- QCS.net Corporation
(OTC Bulletin Board: QCSC) announced today that based on the high acceptance
rate by its suppliers, Promodes has adapted the QCS.net service as their
standard to perform pre-order sourcing activities via the Internet with their
suppliers worldwide.
Promodes is one of Europe's leading international retailers with
1998 total sales -- trade volume of $36 billion and consolidated net sales of
$21 billion. Promodes operates a variety of retail formats including
hypermarkets, supermarkets, discount stores, convenience stores and wholesale
operations in 11 countries. Promodes' best know retail format is Continent, a
leading operator of hypermarkets in France and Spain. Promodes' central
buying company, Paris-based CIM, is responsible for the centralized sourcing
of products for each of the operating countries. CIM's use of QCS.net to
conduct pre-order sourcing activities with their suppliers worldwide is the
first phase of Promodes' plans to connect all of the operating countries to
the QCS.net service. CIM began a pilot of QCS.net with a limited number of
suppliers in August 1998. Based on the pilot's success in shortening the
buying cycle, Promodes decided to rollout the QCS.net service to its CIM
suppliers beginning in February 1999. Since February, over 70 percent of the
suppliers have either registered or committed to register to the service.
Paul Mir, General Manager of CIM said, "We are very pleased at the high
percentage of suppliers who have registered for the QCS.net service in such a
short period of time. One reason we chose QCS.net is that it provides us with
a cost-effective Extranet capable of connecting us with all our suppliers and
to interface our sourcing activities directly to our in-house supplier
management systems. The fact that the QCS.net service is also easily
accessible and affordable for our suppliers has been a key element to us. All
our suppliers have to do is pay a monthly fee and have a PC with Internet
access. Unlike EDI, there's no expensive technology investments or
transaction-based fees."
To subscribe to the QCS.net service, which is marketed and supported by
IBM worldwide, suppliers pay a fixed monthly fee of $95 for unlimited
transactions. With QCS.net, suppliers create and publish public and private
electronic catalogs for their buyers, complete with digital images of their
products. Promodes buyers view online their suppliers' up-to-date catalogs,
then send for more information through standard requests for proposals.
Suppliers respond with product offers, e-forms that prompt suppliers to
fill-in required buying information. After negotiating the offers, Promodes
buyers compile the product offerings into company standard electronic catalogs
that are interfaced to in-house management systems. Corporate reference
catalogs are made available over the Internet to local buyers in each of the
operating countries, reducing considerable time and cost.
Olivier Mouton, Project Manager at CIM, added, "Without the time and
expenses of communicating with suppliers worldwide through fax and phone, we
can make better buying decisions more quickly. The QCS.net Internet-based
service saves us time getting our products to our local buyers."
Sean Maloy, QCS.net President and CEO, added, "We are very proud of the
high percentage of Promodes suppliers that we have registered for our service.
We have been able obtain this result because of Promodes effectively sharing
their vision with their trading partners worldwide. We are convinced that
Promodes will now be able to start realizing the enormous benefits of sourcing
products using the Internet and the QCS.net solution."
QCS.net Corporation (www.QCS.net) has developed an Internet-based turnkey
solution for business-to-business e-Commerce that enables retailers to
organize, automate and significantly reduce the cost of their pre-order
merchandise sourcing activities with their merchandise suppliers around the
globe. All customer, help desk, and training services are available through
regional Solution Centers based in Cincinnati, Brussels, and Hong Kong.
Any statements in this announcement about future results are preliminary
and based on partial information and assumptions, and actual results may
differ. Except for historical information presented, the matters discussed in
this announcement contain forward-looking statements that involve risks and
uncertainties, including the development and growth of markets targeted by
QCS.net Corporation, the acceptance of Electronic Collaborative Solutions by
retailers and vendors, the continuance of IBM as a business partner,
subsequent competition, general economic conditions in the U.S. and abroad,
and other risks detailed from time to time in the company's public disclosure
filings with the U.S. Securities and Exchange Commission (SEC). Copies of the
most recent forms 10K and 10Q of QCS.net Corporation are available upon
request from its corporate office.SOURCE QCS.net CorporationCONTACT: Larry Selwitz, Investor Relations of QCS.net Corporation,
562-493-2770, or fax, 562-493-4510, or investor@QCS.net |
