Headline: AppNet Develops ProcureZone.com -- B2B eMarketplace for Construction Industry; XML-based eMarketplace to Revolutionize Procurement in $600 Billion Industry
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BETHESDA, Md.--(BUSINESS WIRE)--April 26, 2000--AppNet, Inc.
(NASDAQ:APNT), a premier provider of end-to-end e-business solutions,
today announced the launch of ProcureZone.com, an Internet-based
business-to-business (B2B) eMarketplace focused on the purchase and
sale of engineered equipment, construction commodities, operation and
maintenance supplies, and professional services.
As the latest in a string of B2B eMarketplaces AppNet is currently
building, ProcureZone.com's fundamental business goal is to replace
the manual procurement process for engineered products and commodities
with an automated, convenient, and accurate Web-based system to
expedite and standardize the Request for Proposal (RFP) process.
ProcureZone.com's core capability targets the most costly form of
procurement, highly complex engineered products, where the process
typically involves a large number of engineers, and a rigorous and
time-consuming negotiation and approval process. ProcureZone.com has
been designed to streamline and standardize the procurement process,
dramatically reducing costs.
During beta testing of ProcureZone.com, Sargent & Lundy, a
Chicago, Illinois-based firm, has used the site for procuring
equipment for the construction of a Texas power plant. The site is
expected to handle millions of dollars in volume on an annual basis
when it is fully commercial.
"The construction industry will be revolutionized by
ProcureZone.com," said Chuck Miller, chairman and CEO of
ProcureZone.com. "In cost savings alone, we expect customers to save
at least 10% of the cost of engineered equipment and commodities."
A unique feature of ProcureZone.com is a library of standard
procurement specifications suitable for the procurement of heavy
industrial products such as heat exchangers, cooling condensers,
pumps, valves and blowers, and engineered construction commodities
such as fabricated pipe, structural steel, concrete, fasteners, and
the like.
ProcureZone.com's procurement library will contain more than 250
procurement specifications covering the industrial, commercial,
infrastructure, and residential sectors of the design engineering and
heavy construction industry. These specifications were created in
collaboration with Sargent & Lundy, a global leader in professional
services for the electrical power industry.
Other features of ProcureZone.com include:
-- A bid preparation tool to assist suppliers in cost estimation
and proposal preparation;
-- Lists of registered suppliers with known quality and
performance;
-- Side-by-side comparison of proposal data and pricing
information from multiple suppliers to aid buyers in the
selection process;
-- Bid evaluation module that allows the buyer to record seller
pricing adjustments and adjustment rationale;
-- Reverse auction capability that allows the buyer to obtain the
best value for the price, through competition;
-- Contract award, implementation, monitoring, changes, and
expedition features;
-- Payment invoice preparation and management; and
-- Authorized payment capability through a third-party financial
institution.
"In working with ProcureZone.com, AppNet continues to build on its
momentum as a leader in developing and implementing complex, high
value-added B2B eMarketplaces," said John McBeth, group president of
AppNet. "We have created an eMarketplace that uses the latest
technologies to create a flexible, repeatable process for procurement
by combining libraries of engineering specifications with a system
capable of handling those specifications. And, we packaged it in a
flexible user interface designed for buyers and sellers to easily
understand."
AppNet developed the architecture, applications and the front-end
for ProcureZone.com, and is handling the systems integration with
buyers' and suppliers' systems. The core functionality of this
eMarketplace is the development of procurement specifications on
behalf of a buyer and the exchange of these specifications with
qualified suppliers.
The suppliers in return provide proposals containing technical
pricing and delivery information.
AppNet built the underlying architecture of ProcureZone.com on a
commercial XML repository and document publishing engine capable of
handling a variety of document types. The architecture is built on
industry standard Enterprise Java components.
About ProcureZone.com
ProcureZone.com is a leading provider of e-procurement solutions
for the design engineering and construction industry. The Boston-area
company synchronizes the business processes of engineering and
construction buyers and suppliers - thus reducing costs and increasing
efficiency for both.
Principals of the company include Chairman and CEO Charles Q.
Miller, a former executive vice president of Raytheon Company, and
Founder Junaid Yasin, a former vice president of Intercontinental
Energy Corporation. Together they have more than 50 years of
experience in engineering, construction, and operations and
maintenance industries.
For more information or to register, visit www.procurezone.com.
About AppNet
AppNet (NASDAQ:APNT) is a premier provider to end-to-end
e-business solutions, from interactive marketing to back-office
integration. For companies transforming themselves for the new
Internet economy, the firm offers a unique mix of Internet strategy,
marketing, and technology services.
AppNet is the fourth largest interactive marketing agency
according to Ad Age and one of the 50 largest pure Internet companies,
according to Internet World. AppNet works with Fortune 1000 and
dot.com companies. Customers include Sprint, UCCnet, Baxter
Healthcare, Dial, Ford, Hyundai, bet.com, UNICEF, KB Toys, NEC, and
Unilever.
For more information about how AppNet can bring the power of
e-business to your business, visit www.appnet.com.
This press release may include "forward-looking statements" for
purposes of the Securities Exchange Act of 1934. All statements
herein, other than those of historical fact, including statements
regarding future contractual arrangements or performance, competitive
strengths, and business strategy, are forward-looking.
Actual results or events may differ materially from those
projected in such forward-looking statements. Information regarding
the factors that could cause such differences is contained in AppNet's
filings with the Securities and Exchange Commission.
CONTACT: AppNet
Media
Alla Iaquinto, 301/581-2489
press@appnet.com
or
Investors
Kevin Taback, 877/551-2323
ir@appnet.com
or
ProcureZone.com
Mike Reilly, 781/749-9800
michael.reilly@procurezone.com
KEYWORD: MARYLAND MASSACHUSETTS
INDUSTRY KEYWORD: BUILDING/CONSTRUCTION COMPUTERS/ELECTRONICS
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