Monday October 23, 8:06 am Eastern Time
Press Release
SOURCE: New Era of Networks, Inc. and tapX Ltd.
tapX and NEON Partner to Provide
Integration Solutions for B2B e-Settlement And Cash
Management Product
DENVER and LONDON, Oct. 23 /PRNewswire/ -- New Era of Networks, Inc. (Nasdaq: NEON
- news), a leading e-Business integration platform provider, and tapX Ltd. (the assured payment
exchange) provider of a Straight-Through-Processing (STP) B2B settlement and cash
management solution, today announced a strategic partnership to use NEON's award-winning
technology to deliver integration solutions that allow businesses to rapidly link their systems to
tapX's secure, STP environment. tapX will use NEON's e-Biz Integrator(TM) software to
integrate its service with companies' eProcurement and ERP systems, and to ensure seamless
connectivity and data accuracy across the life-cycle of a procurement transaction.
tapX's highly innovative approach to reengineering the entire payables-to-receivables cycle
eliminates current processing inefficiencies for both trading parties and provides an accurate
view of payment status, thereby significantly reducing the risk and cost associated with supplier
financing.
With tapX, businesses can reduce internal processing expenses and obtain improved supplier
terms by cutting their suppliers' receivables management and working capital costs. tapX
estimates that its solution can halve the cumulative settlement and receivables financing costs
that are incurred across a corporate supply chain, representing currently as much as two percent
to six percent of final product costs.
``Our ability to rapidly integrate with a company's supply chain management systems, regardless
of the existing technology investment, is critical to the delivery of our seamless STP solution to
e-settlement and cash management,'' stated Paul Ormrod, chief executive officer of tapX. ``The
proven track record of NEON technology fits with our requirements for speed, breadth and
scalability of execution.''
``NEON's proven ability to bring business processes to the Internet quickly and efficiently is a
natural complement to the tapX solution,'' said Pat Fortune, president and chief operating office
of NEON. ``The combined capability of NEON and tapX will offer our customers a way to cut
costs, and be more efficient through the reengineering of back-office disconnects that can
separate buyers and suppliers in B2B commerce.''
About New Era of Networks, Inc.
New Era of Networks, Inc. (Nasdaq: NEON - news) is a leading provider of e-Business
integration software and services for the New Economy. Drawing on proven core technology
and years of experience, NEON integrates and automates e-Business processes, helping
companies bring end-to-end business functionality to the Internet in the shortest possible time
frame. In addition, NEON products help companies establish direct, electronic links with
customers, suppliers and partners; build and participate in Net markets; and distribute and
access information using wireless technology. NEON maintains strong partnerships with leading
e-Business companies, including BEA Systems, BroadVision, Commerce One, IBM and
Microsoft, and has more than 3,000 customers worldwide. Founded in 1994, NEON is
headquartered in Englewood, Colo., and employs 1,200 professionals in locations across the
globe. For more information, call 800-815-6366 or visit www.neonsoft.com .
New Era of Networks, e-Biz Integrator and the NEON logotype are trademarks of New Era of
Networks, Inc. and its subsidiaries. All other trademarks and registered trademarks are the
property of the respective trademark owners.
About tapX Ltd. (the assured payment eXchange)
tapX Ltd. was set up in June 2000 by CASHFAC Ltd. to bring to market an integrated B2B
settlement and forward cash management solution that is driven by key supply chain events.
tapX uses CASHFAC Virtual Bank Technology (R) as its proven Straight-Through-Processing
engine to integrate the reporting of event-driven forward cash flows with cleared items on
trading-parties' bank accounts. This STP engine also manages the end-to-end transactional
control of money flows at settlement, in a multi-bank, multi-currency environment. CASHFAC
VBT (R) is already used by global corporations to launch own-branded banking services and to
manage automatic settlement and client money compliance in broking, law and trust, and
employee benefits industries.
tapX leverages the security and resilience of banks' private payment networks to provide secure,
web-enabled settlement and facilitate receivables financing for the benefit of participating
Buyers, Suppliers and their Banks. tapX is headquartered in London, UK. For more information,
call +44-20-7920-0617 or visit tapx.net . |
