PRIM - Monday August 16, 8:32 am Eastern Time
Company Press Release
SOURCE: Navilor, Inc.
Navilor, Inc. Signs Letter of Intent to Provide Data Extraction Services To Comdata Network, Inc.
SALT LAKE CITY, Aug. 16 /PRNewswire/ -- Navilor, Inc., a wholly owned subsidiary of PrimeHoldings.com, Inc. (OTC Bulletin Board: PRIM - news), today announced that it has signed a letter of intent to provide data extraction services to Comdata Network, Inc., a leading supplier of transaction and information services to the transportation industry.
Navilor, Inc., formed recently by the combining of PrimeSourceNet and the recently acquired operating assets of Intelisys, Inc., provides key data extraction and information processing technology used to prepare and publish information to the Internet and other data platforms. The letter of intent with Comdata, Inc. will link Navilor's technology and services to Comdata's driver log auditing services in a pilot project aimed at reducing the costs associated with reporting and compiling compliance information in the trucking industry.
Comdata has chosen one of its largest customers, a major flatbed truckload carrier, to pilot test the combined service. During the pilot project, federally mandated logs kept by the trucking company's drivers will be scanned at company headquarters and transmitted as images to Navilor. Using its proprietary handwriting recognition software, Navilor will then extract the data and re-transmit the information electronically to Comdata. Turnaround time from Navilor will be less than 24 hours, saving valuable time and money. The pilot project calls for processing up to 1,000 forms each day. Upon successful completion of the pilot program, Navilor anticipates signing a greatly expanded long-term agreement with Comdata to provide data extraction services to all of Comdata's trucking customers.
The pilot project is the latest example of the need for Navilor's data extraction services, which are also currently being tested in a pilot project with soft drink and fast food giant PepsiCo, Inc. According to a recent report from Gartner Group and AIIM International, the document technologies industry is expected to grow from $13.2 billion in 1998 to $41.6 billion in 2003. As demand for document processing technologies grows, so will demand for leading technologies and services such as those from Navilor, which are necessary for capturing and converting paper-based information for electronic use.
About ComData Network, Inc.
Comdata Network, Inc. is redefining the movement of money and information through technology for businesses, customers and employees. A leading provider of transaction and information services, Comdata has been an innovator in the diverse industries it serves since its founding in 1969. Among its offerings, Comdata provides information management, credit and debit transaction processing and reporting, telecommunications, fuel management and travel plaza services. Headquartered in Brentwood, TN, Comdata employs nearly 2,000 throughout the United States and Canada.
Comdata is a business unit of Minneapolis-based Ceridian Corporation (NYSE: CEN - news), a leading information services company that serves the human resources, transportation and electronic media markets. Ceridian's human resources businesses include Ceridian Employer Services, a provider of human resource management systems and payroll and tax filing services, and Ceridian Performance Partners, a provider of fully integrated workplace effectiveness solutions. Ceridian's electronic media sector includes Arbitron; an international media and marketing research firm.
About Navilor, Inc.
Navilor, Inc., based in Roy, Utah, is a leading provider of automated data extraction services for converting paper-based information into a variety of electronic formats. According to recent industry estimates, more than 80% of all business documents are business forms and the processing of those forms accounts for between 5% and 15% of the Fortune 500's annual revenues. Navilor technology and services bridge the gap between manual paper processes and electronic commerce.
Navilor is a wholly owned subsidiary of PrimeHoldings.com, Inc. (OTC Bulletin Board: PRIM - news) formerly PrimeSource Communications Holdings, Inc. traded under (OTC Bulletin Board: PSCM - news) which develops and operates Internet-based and Internet-related technology companies that together form a community focused on business intelligence and electronic commerce. Other current PrimeHoldings.com companies include: bCard.net, a leader in smart card technologies; eROI, a cutting-edge provider of technology for evaluating hard-to-measure business processes such as training, and UniQuest Communications, a top agency of telecommunications reseller UniDial, Inc. For more information call 801-562-1444 or visit www.primeholdings.com.
This news release may include statements which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Please be cautioned that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure documents.
Trademark Notice: All trademarks named above are the property of their respective holders.
SOURCE: Navilor, Inc.
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