GMAC B2B Credit, ProfitScape and Informix Align to Announce a New Way to ``Do Business'' With eNET30
DETROIT, LAS VEGAS & WESTBORO, Mass.--(BUSINESS WIRE)--Nov. 22, 2000--GMAC B2B Credit, ProfitScape.com and Informix today announced, in a joint news release, that the three companies have aligned to launch eNET30(TM), a "B2B" commercial payment system.
The strategic powerhouse plans to formally launch the eNET30(TM) payment solution during the first quarter of 2001. The eNET30(TM) solution provides systems and technology to corporations, trade shows and e-marketplaces that allow them to close B2B industrial-size transactions online in a real-time environment.
The eNET30(TM) partnership provides for joint marketing, distribution and technology. The GMAC branded eNET30(TM) system will allow e-marketplaces, trade shows and corporations to provide financial services to their customers electronically.
The eNET30(TM) system has been market-tested through Bill Communications Inc., a VNU company (formerly known as Miller Freeman, a k a United Media), which owns and operates 90 trade shows in the United States.
"This solution works in a `bricks-to-clicks' environment, which made it a very appealing solution for us," explained Sam Bundy, vice president of Bill Communications. "The adoption rate with the vendors was over 32 percent in less than six months' time from the ASD/AMD trade-show launch. The eNET30(TM) system is obviously a very desirable B2B payment solution in our arena."
"Our initial concept was to provide technology that would allow companies to close online. As we were developing, patenting and testing the eNET30(TM) system, we found that companies needed a B2B payment solution to assure payment on all their receivables and not just transactions that close over the Internet," stated Dr. Ranel Erickson, ProfitScape's chief technology officer and a co-founder of Purchasepro.com.
The patent-pending eNET30(TM) system is powered by Informix(R) software.
"It is a rare opportunity to be a partner in the development of technology that has the potential of actually improving the way we all do business. We are very delighted about being a part of this alliance," stated Jamie Arnold, chief financial officer of Informix(R) Corp.
GMAC Financial Services announced its new GMAC B2B Credit division during the second quarter of this year.
"We believe the eNET30(TM) system is a perfect vehicle to provide our financial services to B2B exchanges, corporations and trade shows in a very scalable environment," explained Jay Craig, chief financial officer of GMAC Commercial Finance.
"This alliance makes perfect sense to us. Each company has their own area of expertise; ProfitScape and Informix provide the technology backbone, and GMAC provides the financial services foundation."
About GMAC
GMAC, a wholly owned subsidiary of General Motors Corp. since 1919, operates under the brand name GMAC Financial Services. In addition to worldwide automotive financing, its major lines of business include insurance, mortgage and commercial finance. GMAC, which recorded $1.5 billion in earnings in 1999, operates in 40 countries at more than 700 facilities.
About ProfitScape.com
ProfitScape's cutting-edge, patent-pending technology enables companies to expand their financial reach. The streamlined eNET30(TM) solution offers businesses large credit lines in a variety of buy/sell environments, including trade shows, Internet exchanges and e-commerce sites. For more information, visit ProfitScape's Web site at www.profitscape.com.
About Informix
Informix Business Solutions, an independent operating business of Informix Corp. (Nasdaq:IFMX), offers an integration suite of database and platform-independent software solutions and infrastructure for integrating content, e-commerce and analytics that enable customers to succeed in the new economy.
For more information, contact the nearest sales office or see the related news release "Informix Establishes Two Independent Operating Companies," Sept. 19, 2000, at Informix's Web site, www.informix.com.
Note to Editors: Copyright 2000, Informix Corp. All rights reserved. The following are trademarks of Informix Corp. or its affiliates, one or more of which may be registered in the United States or other jurisdictions: Informix(R), Foundation(TM), Informix Dynamic Server(TM), Red Brick(R), Extended Parallel Server(TM), Cloudscape(TM), UniVerse(R) and UniData(R).
CONTACT:
ProfitScape.com, Las Vegas
Julie M. Borges, 702/732-2000
jborges@profitscape.com
or
GMAC Financial Services, Detroit
Anne Marie Sylvester, 248/263-3060
annemarie.sylvester@gm.com
or
Informix Corp., Westboro
Paul Collins, 508/366-3888, ext. 3484
paul.collins@informix.com
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