(BSNS WIRE) ePlus to Finance MicroStrategy IT Assets With ePlusSuite
ePlus to Finance MicroStrategy IT Assets With ePlusSuite
Business Editors/High Tech Writers
HERNDON, Va.--(BUSINESS WIRE)--Dec. 2, 1999--
Significant eProcurement savings and
efficiencies attained with ePlusSuite
ePlus inc. (NASD:PLUS) today announced that MicroStrategy
Incorporated (Nasdaq: MSTR), a leading worldwide provider of
Intelligent E-Business(TM) software, has implemented ePlusSuite, a
remotely-hosted e-business solution, to procure, manage, and finance
up to an expected $40 Million of IT assets for MicroStrategy.
MicroStrategy chose the ePlusSuite service solution after an
exhaustive review of other eProcurement and automation solutions.
"By seamlessly automating our existing procurement protocol, we
believe that ePlusSuite will allow us to achieve hard dollar savings
to our bottom line through a reduction in the cost of acquisition and
by leveraging our volume discounts and bulk purchase agreements,"
commented MicroStrategy's Chief Financial Officer, Mark Lynch. "The
ePlusSuite hosted solution is designed to allow us to immediately
automate procurement as well as manage and control the total cost of
ownership without the large capital expense for implementation and
development typically associated with ERP solutions. In addition, the
flexibility afforded by the ePlus financing structure is a very
attractive feature to MicroStrategy which we have not seen with other
eProcurement offerings."
Phillip G. Norton, Chairman, President, and Chief Executive
Officer of ePlus inc. said "MicroStrategy's position as a leader in
Intelligent E-business makes its choice of ePlus a strong endorsement
of ePlusSuite. We believe that our ePlusSuite is the most
comprehensive hosted supply chain management solution available, and
we look forward to helping MicroStrategy continue to cut costs and
become a more efficient purchaser and manager of all of its critical
business resources. ePlusSuite offers a very high ROI and allows
companies to focus on their core businesses."
About ePlus
ePlus inc. is a leading supply chain and asset management
e-business solutions provider with revenues of $194 Million for its
fiscal year ending March 31, 1999. Its remotely hosted application
covers the customer's total ownership experience, beginning with the
end-user order and ending with the equipment disposal transaction.
ePlusSuite consists of Procure+, Manage+, Finance+ and Service+, and
provides workflow management, procurement, order tracking and
verification, asset depository, tracking and reporting, financing,
sales, property and use tax compliance and payment, software license
compliance, technology rollout and upgrades, technical and maintenance
services, and equipment disposal. The company, which was founded in
1991, is headquartered in Herndon, VA and has 17 offices in the United
States.
ePlus is an trademark applied for of ePlus inc., and ePlusSuite,
Procure+, Manage+, Finance+ and Service+ are service marks applied for
of ePlus inc.
About MicroStrategy:
MicroStrategy is a leading worldwide provider of Intelligent
E-business(TM) software and related services. MicroStrategy's product
line enables both proactive and interactive delivery of information
from large-scale databases, providing Global 2000 enterprises a
platform for developing solutions that deliver insight and
intelligence to their enterprise, supply-chain and customers.
MicroStategy's platform enables users to query and analyze the
most detailed, transaction-level databases, turning data into business
intelligence. In addition to supporting internal enterprise users,
MicroStrategy's platform delivers critical business information beyond
corporate boundaries to customers, partners and supply chain
constituencies through a broad range of pull and push technology such
as the Internet, e-mail, telephones, pagers and other wireless
communications devices. MicroStrategy's platform is ideal for
developing e-business solutions that are personalized and proactive,
and that reach millions of users. MicroStrategy also offers a
comprehensive set of consulting, training and support services for its
customers and partners.
MicroStrategy has over 850 customers across such diverse
industries as retail, telecommunications, finance, insurance
healthcare, pharmaceuticals and consumer packaged goods.
Representative MicroStrategy customers include American Express
Travel, CVS Pharmacy, Harris Teeter, Kmart, MCI WorldCom, Merck-Medco,
Nike, NetRadio and Ralston Purina. MicroStrategy has also entered into
relationships with more than 210 systems integration, application
development, and platform partners, including Accrue, Exchange
Applications, HNC Software, IBM, NCR, and Oracle.
For more information, please visit MicroStrategy's Web site:
microstrategy.com
MicroStrategy and Intelligent E-Business are registered
trademarks of MicroStrategy Incorporated in the United States and
certain other countries. All other product and company names mentioned
herein are trademarks may be the trademarks of their respective
owners.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained in this release which are
not historical facts may be deemed to contain forward-looking
statements. Actual results may vary due to the following risks and
uncertainties, including, without limitation, demand and competition
for the Company's lease financing and equipment sales and asset
management services, and the products to be leased or sold by the
Company, the continued availability to the Company of adequate
financing in general and for MicroStrategy in particular, the ability
of the Company to recover its investment in equipment through
remarketing, the successful execution of its e-commerce strategy, the
amount of equipment ordered, purchased and/or leased by MicroStrategy,
and other risks or uncertainties detailed in the Company's Securities
and Exchange Commission filings. Investors are cautioned that current
financial results may not be indicative of future results.
--30--bc/ch*
CONTACT: ePlus inc.
Kleyton L. Parkhurst, 703/709-1924 or 703/675-0753
kparkhurst@mlcgroup.com
eplusonline.com
KEYWORD: VIRGINIA
INDUSTRY KEYWORD: SOFTWARE INTERNET E-COMMERCE HARDWARE
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