Here's a little NEWS that might help you guys out:
PR NEWSWIRE) PurchasePro.com Completes Implementation of Revolutionary Br
PurchasePro.com Completes Implementation of Revolutionary Browser-Based B2B
E-Commerce Solution
Implementation Time for Buyers and Sellers Reduced From Months to Hours
LAS VEGAS, Oct. 20 /PRNewswire/ -- PurchasePro.com, Inc. (Nasdaq: PPRO), a
leading provider of business-to-business electronic commerce services
announced today that it has developed and is implementing what it believes to
be the first true browser-based B2B e-commerce solution. This proprietary
system will allow thousands of new businesses immediate access to the
PurchasePro.com system to source, bid -- using the Company's unique patented
bidding tool -- buy and sell, which can all be tracked using extensive
management reporting tools. PurchasePro.com members can access popular
back-office systems, via certified interface tools to J D Edwards, Oracle,
PeopleSoft and SAP. The Company expects to release the new browser-based
version in early November.
According to Dale Boeth, director of e-business at Sprint Corporation,
"This represents a quantum leap in e-procurement technology. In effect it
levels the playing field, allowing companies of all sizes to utilize
sophisticated browser technology to gain entry into trading communities that
offer substantial cost and time savings. PurchasePro.com appears to be ahead
of the pack."
"We are excited about the many benefits of this new browser-based
solution," said Charles E. Johnson, Jr., PurchasePro.com's Chief Executive
Officer. "Rather than focusing on capturing a few large businesses and
charging them a large one-time license fee and small annual maintenance fee,
we focus on the mass market and a revenue model that allows us to collect
eight different type of revenues on a recurring basis, including transaction
fees for purchase order and bid responses. Our revenue currently comes from
our more than 4000 electronically enabled businesses on our network, more than
double that of many of the other players in the B2B space. We believe this
business-to-business solution will greatly enhance our revenue opportunities."
"We developed this system in response to the massive demand for
business-to-business e-commerce solutions," added Johnson. Forrester Research
predicts that intercompany trade of hard goods over the Internet will reach
1.3 trillion dollars by 2003. "We believe you can't be the market leader in
the B2B space if your solution costs millions of dollars and takes 3 to
12 months to implement. Our solution can be deployed quickly, in hours rather
than months, is easier to use and is available to and priced for the mass
market. Businesses can link their own customers, as well as suppliers,
without network conflicts or hardware compatibility issues. Any business can
log on with a standard web browser. Our low-cost, high-value scalable
solution can handle the largest Fortune 500 companies as well as the local
hardware store. Based on case studies, PurchasePro.com's solution delivers
significant return on investment (ROI). Our members report an average
15-17 percent savings on products plus the efficiency savings associated with
eliminating maverick purchasing," concluded Johnson. According to Aberdeen
Group, Industry estimates indicate that maverick purchasing accounts for
30% of all maintenance repair and operations (MRO) spending at most
organizations.
Mike Ford, PurchasePro.com's Chief Technical Officer, added, "Our recent
IPO provided us with the resources to implement systems equipped to handle
significant increases in business volume and to develop this powerful
browser-based system. Our new system allows us to add thousands of businesses
to our e-marketplace at one time. To accommodate increased transaction and
member volume, PurchasePro.com has migrated from Microsoft SQL Server and NT
platforms to Oracle and Unix. We have been careful in its design to ensure
that new and existing users will immediately experience the benefits of our
new browser-based solution."
PurchasePro.com, Inc. is a leading provider of Internet
business-to-business electronic commerce services. The company's e-commerce
solution is comprised of public and private "e-marketplaces" where businesses
can buy and sell a wide range of products and services in an efficient,
competitive and cost-effective manner. Its target customers are primarily
small to medium sized businesses. The company has designed its e-marketplaces
to meet the needs of these customers and their large business partners.
A key element of its strategy is to develop sales and marketing
relationships. These relationships include Office Depot, Inc., Primavera
Systems, Ariba, DigitalWork, VerticalNet, Zoomtown.com, a Cincinnati Bell
subsidiary, the Greater Phoenix Chamber of Commerce and the American
Association of Franchisees and Dealers. The Company provides extensive
support and training programs. For more information, call toll free at
888-830-4600 or in Las Vegas at 702-316-7000. You can also access
PurchasePro.com, Inc. at its Web site, www.purchasepro.com.
This press release includes forward looking statements which are subject
to a number of risks and uncertainties, including the risks and uncertainties
associated with rapidly changing technologies such as the Internet, the risks
of technology development and the risks of competition. Actual results could
differ materially. For more information about these risks and uncertainties,
see the SEC filings of PurchasePro.com, Inc, including the section entitled
"Risk Factors" in its Prospectus dated September 13, 1999 which is available
from the company on request and on the Internet at the SEC's Website,
www.sec.gov.
SOURCE PurchasePro.com, Inc.
-0- 10/20/1999
/CONTACT: Scott Miller of PurchasePro.com, Inc., 702-316-7000; or Brooke
Deterline, or Jill Fatzinger, or Alicia Nieva-Woodgate, all of Morgen-Walke
Associates, 415-296-7383, for PurchasePro.com, Inc./
/Web site: purchasepro.com
(PPRO)
CO: PurchasePro.com, Inc.
ST: Nevada, California
IN: CPR
SU: PDT
good luck longs and shorts!
:-)
2MAR$ |
