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Technology Stocks : Remedy Taking a hit why?

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To: Ms. Baby Boomer who wrote (307)10/13/1997 5:19:00 PM
From: Ms. Baby Boomer   of 763
 
Monday October 13 3:40 PM EDT

Company Press Release

Remedy Premiers Major New ISV Program

MOUNTAIN VIEW, Calif., Oct. 13 /PRNewswire/ -- Remedy Corporation (Nasdaq:RMDY), the world's leading provider of applications for the internal help desk and consolidated operations management (COM) market, today premiered its new Independent Software Vendor (ISV) program. This program enables partners to use Remedy's core technology to build applications for an array of vertical markets, including health care, human resources, customer support, and telecommunications.

''In today's fiercely competitive market, successful ISVs must get their applications to market quickly and provide out-of-the-box applications that cover heterogeneous platforms and technologies. These applications must also easily adapt to meet the needs of their customers,'' said Eric Bergan, the recently appointed vice president of strategic ISVs. Bergan understands the goals and challenges confronting ISV partners. With four years experience as Remedy's vice
president of engineering, he brings to the program extensive industry experience and an expert understanding of Remedy's core technology.

''When ISVs partner with Remedy, they benefit from our core technology with its three-tier client/server architecture with extensive integration capabilities and unmatched customizability,'' said Bergan. ''The 'Remedy-powered' solution we offer ISVs is what gets them on the fastest path to market. This is the key reason the program has generated so much interest. ISVs also benefit from Remedy's overwhelming market leadership and its installed base of 4,250 sites.''

BayStone Software Inc. and Foundation Technologies, Inc., Partners Find Success:

One of Remedy's ISV partners who has experienced strong success in the marketplace is BayStone Software, Inc., located in Saratoga, California. BayStone is a customer interaction software (CIS) developer who partners with Remedy to build commercially available,
out-of-the-box customer care solutions. ''Remedy's ISV program has provided us with valuable technology, enabling us to reduce our time to market by approximately half. In today's market, the window of opportunity closes too quickly and development time is too limited to waste time reinventing technology. Remedy's core technology was crucial in bringing our product to market, significantly reducing our development costs, and allowing us to develop a wide range of
market-leading customer care applications,'' said Robert Lux, CEO and president at BayStone.

Foundation Technologies, Inc.(R) (FTI), another Remedy ISV partner, provides Beneflex: The HR Knowlegebase. FTI has created Beneflex Call Tracking, powered by Remedy. Beneflex Call Tracking allows case management/call tracking specific to human resources and benefits shared service centers as well as self service over the Internet. ''Remedy's highly customizable core technology has enabled us to create a powerful, specialized application for human resources,''
said Larry Kurzner, vice president of marketing and business development for Foundation Technologies. ''Our product is a turnkey solution that provides superior management, tracking, and reporting capabilities for human resources, payroll, and benefits information.''

Other new partners have joined the program, including Hitachi Information Technology Co., Ltd., a computer telephony integration application developer; Enterprise Network Applications, Inc. a software application provider; Nightingale Corporation, a provider of turnkey enterprise management software for health care operations and patient encounter management; and GOOItech Inc.(R), a wireless electronic commerce solutions provider.

The ISV program offers partners a host of marketing and technical support benefits, including free development software, dedicated support from a single point of contact at Remedy, a secure Web site providing instant access to Remedy information, a developer's onference, and freetraining classes.

Partner Programs Play Crucial Role for Remedy:

''Partner programs are crucial to our success,'' said Bergan. ''The new ISV program helps make Remedy's total partner program the industry's most comprehensive and effective, because it
includes ISV, channel and product partners.'' Remedy's indirect channel program, the largest of any help desk vendor, augments sales and consulting efforts by providing customer contact, requirements analysis and design, applications consulting, systems integrations and complete enterprise solutions. Product Partners provide the broadest possible range of integrated help desk components and offer new levels of performance and functionality to customers.

For specific information about the ISV program, contact Martie Jones, director of channel marketing at Remedy Corporation at 650-903-5269.

Remedy Background

Founded in 1990, Remedy(R) develops and markets adaptable applications for the consolidated operations management (COM) market. Cited by analyst organizations like META Group as one of the fastest growing areas for client/server applications, COM starts at internal help desk and expands to applications like change management and asset management. As the leader for help desk solutions, Remedy products meet these needs. At the end of June 1997, Remedy had over
4250 customer sites, with more than 2200 customers worldwide. Remedy operates from headquarters in Mountain View, CA., with offices in Pleasanton, CA; New Jersey, Maryland, London, Frankfurt, Paris, and Singapore.

NOTE: Remedy is a registered trademark of Remedy Corporation. Action Request System and ARWeb are trademarks of Remedy Corporation. Any other products or services may be trademarks of the company with which they are mentioned.

SOURCE Remedy Corporation
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