Gary and Offie, I think people will want to look closely
at the last release from IBNL as well to better understand how
huge this news is today. Analytical opens the door for IBNL Virtual Source to the dozens of Fortune 500 companies it has as clients.
In it, both Presidents comments are worth reading closely:
(BSNS WIRE) Analytics Inc. Enters Into Strategic Alliance With IBNL's Vi
Analytics Inc. Enters Into Strategic Alliance With IBNL's Virtual Source
Network (more below)
Business Editors
MADISON, Conn.--(BUSINESS WIRE)--March 4, 1999--Analytics Inc.
Thursday announced that it has entered into a strategic alliance with
Interactive Buyers Network International Ltd. (OTC BB:IBNL), the
developers of Virtual Source Network(TM), an online
business-to-business electronic commerce system.
IBNL offers two unique Internet services. First is the Virtual
SOURCE(TM) network (http://www.vsource.net), a proprietary online
system designed to enhance business-to-business electronic commerce.
Buyers use the Virtual SOURCE(TM) network to obtain competitive bids
on a variety of goods and services. Sellers use the network to enhance
sales opportunities and to provide product and pricing information to
major corporate customers.
Commenting on the strategic alliance, John Jensen, president of
Analytics, stated: "Several years ago we outlined what we
believed to be the perfect e-commerce solution: Open to all, yet
controlled; Quick to implement; Inexpensive to establish. Up until
this point, well, 'close but no cigar.' When we saw the VSN, we knew
that IBNL had delivered on our vision."
The company believes that VSN has demonstrated three critical
success factors:
-- Speed and costs -- If your business has determined that there
is $50 million to be saved via e-commerce, then why would you want to
wait a year to begin saving $1 million per week? In an evaluation
phase, a typical multi-location test case (modeled after one of the
company's clients) was set up in less than a day. VSN can bring
savings to the bottom line faster than any currently available
solution.
-- Focus on real world purchasing activities -- Most of today's
approaches to purchasing activities focus on processing individual
purchase orders and the commensurate process savings. While this
limited vision does funnel line item spend of anticipated purchases,
it overlooks one major fact of purchasing life: Professionals still
need to identify and negotiate the most cost-effective source of
supply for goods and services. VSN, which includes all the features of
these other approaches, goes beyond their limitations by recognizing
this need and allowing the buyer and seller unlimited flexibility in
identifying sources of supply and receiving qualified bids from
anywhere in the world -- the promise of the Internet realized.
-- Value to the Seller -- From the supplier's side, it would be
impossible to establish relationships with the number of purchasers
available through the VSN connection. RFQ's submitted from anywhere in
the world are quickly routed to the appropriate suppliers -- without
the cost of sales typically associated with electronic catalogs or
field sales.
"The importance of this strategic alliance cannot be over-
emphasized," said Robert ("Jay") McShirley, president and chief
executive officer of IBNL. "Since we began development of VSN some
years ago, we have always believed that our system was the answer to
cost-effective and efficient purchasing management. Since adapting the
system to the Internet, we believe it even more. Now, two of the
leading purchasing management consulting firms in the country have
agreed with us."
McShirley continued: "It's not always true that corporate
America is ready to jump on new ideas and solutions. Change takes
time, but one of the most important elements of change is endorsement
by leaders in the field. With the endorsement of Analytics and the
strength of their alliances, we believe companies across the United
States will be 'knocking down our doors' to get on board with VSN."
Analytics (http:\\www.analytics.globalsourcing.net) is
internationally recognized as innovators in purchase analysis
techniques. Its proprietary analytical systems and methodologies are
designed to improve efficiencies, reduce costs and advance purchasing
to strategic levels within organizations. As part of its services,
Analytics has a further strategic relationship with
PriceWaterhouseCoopers, to provide a full service approach including
analysis, implementation and process management. Analytics' stellar
customer list includes numerous Fortune 500 companies.
Statements in this news release that relate to management's
expectations or beliefs concerning future plans, expectations, events
and performance are "forward-looking" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Actual results or events
could differ materially from those anticipated in the forward-looking
statements due to a variety of factors, including, without limitation,
changing technology, the effects of competitive pricing, general
economic conditions and availability of capital.
--30--RJ/la* KWP/la
CONTACT: Analytics Inc., Madison
John Jensen, 203/245-6210
jjensen@analytics.globalsourcing.net
KEYWORD: CONNECTICUT
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
|
