QCSC - news seems sensational - see story below
uesday January 5, 8:02 am Eastern Time
Company Press Release
SOURCE: QCS.net Corporation
QCS.net and IBM Announce Rollout of Their Internet-Based Procurement Service with
Seven Major U.S. and European Retailers
Retailers' Combined Sales Exceed $160 Billion
MOUNTAIN VIEW, Calif., Jan. 5 /PRNewswire/ -- QCS.net Corporation (OTC
Bulletin Board: QCSC - news), a strategic supply chain solutions partner with the IBM
Corporation (NYSE: IBM - news), announced today that seven major U.S. and
European retailers are implementing the business-to-business Internet-based
procurement service provided by the QCS.net Corp./IBM Corp. partnership. The
enterprise-wide implementations of the QCS.net Service, which are in various stages of
progression, electronically tie the retailers to all their suppliers world wide. Under the
enterprise rollout agreements, QCS.net Corp. and IBM Corp. are responsible for
globally deploying the supply chain Intranets for the seven retailers.
''Total retail sales in the U.S. and Europe are estimated to be in excess of $2.4 trillion,
with the 100 largest retailers alone accounting for close to $1 trillion,'' commented
Marcel van Heesewijk, CEO of QCS.net Corporation. ''The seven companies currently
involved in the QCS.net rollout program have combined sales in excess of $160 billion
per year. These firms represent a cross section of the retail disciplines, ranging from
hypermarkets, superstores and department stores to home improvement and garment
specialty outlets. These retailers have business relationships with over 20,000 suppliers,
and we intend to focus our rollouts on these suppliers for inclusion into the QCS.net
Service as well. Based on the firms' individual estimates, we believe a total savings of
more than $10 billion annually can be realized in costs associated in procurement related
activities, assuming their full implementation of the QCS.net Service.''
John Buckles, QCS.net Corp.'s VP of Strategic Alliances, noted that in recent months
there has been a marked rise in the number of inquiries by retailers into the QCS.net
Service. ''This growing interest by retailers demonstrates that they see an immediate
need to improve the way they work with current suppliers, and that it is a MUST, not a
luxury,'' said Buckles. ''Retailers are telling us that their sourcing/buying teams are
strapped for time, very often caught up in endless meetings and dialogs because they are
chasing after missing information, validating questionable responses, and having to
reconstruct negotiations with suppliers. They see that the seamless link and flow of
information between them and all of their suppliers created by the QCS.net Service can
impact their bottom line today, not months from now.''
Added John Davison, IBM's QCS.net Global Coordination Director: ''Our current
effort, with these seven major retailers, has us initially focusing our supplier
signup/training programs on key suppliers in Asia, Europe, and the U.S. By establishing
this focus, we will be able to use our resources in the most effective manner to help
these retailers achieve their desired gains faster. We of course anticipate the decision of
these first seven companies to implement the QCS.net Service will be an incentive for
other major retailers to come on line with our Internet-based service during 1999.''
QCS.net Corporation (www.QCS.net) is a provider of a Business-to-Business
electronic collaboration solution for the retail industry and its global trading partners.
QCS.net provides an Internet, browser-based workflow tool which integrates electronic
catalogs, requests for proposals, product offers, negotiations, ordering, order
status/fulfillment tracking and full Internet EDI functionality. IBM sells, distributes, and
provides end-user support for the QCS.net Service, which is positioned as a strategic
procurement solution in the IBM Supply Chain Solutions Portfolio. All customer, help
desk, and training services are available through regional IBM/QCS.net Solution
Centers based in Cincinnati, Brussels, and Hong Kong.
Any statements in this announcement about future results are preliminary and based on
partial information and assumptions, and actual results may differ. Except for historical
information presented, the matters discussed in this announcement contain
forward-looking statements that involve risks and uncertainties, including the
development and growth of markets targeted by QCS.net Corporation, the acceptance
of Electronic Collaborative Solutions by retailers and vendors, the continuance of IBM
as a business partner, subsequent competition, general economic conditions in the U.S.
and abroad, and other risks detailed from time to time in the company's public
disclosure filings with the U.S. Securities and Exchange Commission (SEC). Copies of
the most recent forms 10K and 10Q of QCS.net Corporation are available upon
request from its corporate office.
SOURCE: QCS.net Corporation
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