**NEWS**: The Winners Exchange licences Symphony suite and
awards credit card processing contract
Millennium Communications Inc
MLU
Shares issued 23233334
1997-09-11 close $0.22
Friday Sep 12 1997
Ms Donna Marie Anton reports
The Winners Exchange, a telemarketing firm, has licenced the Symphony suite of
products from Millennium Interactive, a division of Millennium Communications, in
order to streamline its business.
Winners has revenues in excess of US$12,000,000 and has selected Millennium
as its credit card processor for the existing business. In addition, Winners has
licenced Symphony 2001 including Symphony Secure, Symphony Surf and
Symphony Signatrax.
Symphony 2001 has licenced 3 modules, 1) Symphony Secure; 2) Symphony
Surf; and 3) Symphony Signatrax:
1) Symphony Secure is Symphony's financial transaction processing engine, which
allows secure credit card, debit card, and cheque debit transactions to occur
within the Symphony framework.
2) Symphony Surf is a product that provides the user with a simple but powerful
Web interface for back-end management of complex intranet and extranet
applications. In particular, Symphony Surf addresses the need for robust database
management and linking, document management and document sharing.
3) Symphony Signatrax which tracks and records all the transactions in a real time
basis, allowing the user to accurately trace transactions from their origin to final
including how many clients use the particular application, as well as a host of other
vital on-line activity reports.
Winners will also be using Symphony Reporting, a Web-based software package
that allows all collected data to be assembled into meaningful reports printed at the
request of Winners' management. These reports allow accurate crediting and
debiting of financial transactions so that each transaction can be broken up into
their respective general ledger accounts. Take for example a $1,000. This
transaction has to be separated into many components; including the bank
processing fee of 2%, a $0.50 transaction fee, commissions paid to sales
representatives, the cost of goods of the product or service being sold. Symphony
2001 allows all of these processes to occur simultaneously.
Millennium will receive a royalty of 1.5% of the gross volume processed and will
charge an additional 5% for the credit card merchant fee. This contract is the first
of its kind as it relates to Millennium's partnership with its client. Winners will be
reliant on Millennium for all forms of electronic data interchange including
electronic mail, quick mail, fax back, financial reporting and system integration.
The contract is expected to deliver $600,000 in profits. With the resultant
automation of Winners, Winners should be able to increase its capacity by at least
100% in fiscal 1998.
Symphony 2001 is a powerful Internet, Intranet and Extranet browser-driven
solution for the routing, storing, and retrieval of documents for group
collaboration, review, approval and complex manipulation. The benefits of
Symphony 2001 are that users require very little programming experience, and
Web designers can create complex applications without knowing HTML, a Web
creation programming language.
(c) Copyright 1997 Canjex Publishing Ltd. |
