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Gold/Mining/Energy : Jetform-FORM -- Ignore unavailable to you. Want to Upgrade?

To: sPD who wrote (529)	9/6/2000 11:51:58 PM
From: sPD	Respond to of 530

FP article - "JetForm set to launch wireless forms link" Report on progress Jill Vardy Financial Post - September 6, 2000 OTTAWA - Kevin Francis, JetForm Corp.'s chief executive since May 15, has spent the summer convincing shareholders and analysts the software company will successfully reinvent itself. He gets another chance today at the company's annual meeting, which promises to be a progress report on JetForm's transformation from a money-losing electronic forms supplier to a profitable software company that helps businesses run their standard processes over the Internet. JetForm takes that model a step farther today, announcing new wireless technology to allow customers to create forms that can be sent and received over mobile devices such as cellphones. The new technology, now being tested by some of JetForm's customers, will be integrated into the company's ReachForm product. Mr. Francis said he wants shareholders to understand that after a year-long restructuring exercise JetForm is in good shape now to capitalize on a fast-growing market for "integrated process solutions" -- tech-speak for software that allows things like online forms to be read, filled out and sent back on everything from a PC to a handheld device. All that remains to be done is to double JetForm's sales staff this year. "This is a technology-rich organization and it has been a technology-based culture. The mission the board has given me is to transform that culture to focus on sales and marketing," Mr. Francis said. Once JetForm has boosted its sales capacity, demand for its software products should soar, company executives suggest. So should its stock price, say some analysts. Among them is Paul Bradley of Canaccord Capital, who rates JetForm a strong buy with a target price of $25 -- well above its current $7. "I like the products. I think that given the right management approach, there is significant opportunity for recovery. I think they can pull this one off," he said. Customer demand for integrated process solutions is booming. It was customer demand that prompted the company to create its mobile technology, said Eric Stevens, JetForm's vice-president of research and technology evangelism. He said customers in the financial and insurance sector in particular have been clamouring for the new technology, because they want to be able to offer their clients on wireless devices the same service as their online clients who use PCs. "Every customer we've had this conversation with believes the wireless devices area is the one they need to support going forward," said Mr. Stevens. "Everyone agrees this is the next significant shift in user devices." So anxious is JetForm to reposition itself as an electronic processes company, that the firm has hired consultants to research a new name for the software firm, sources say. But any new name should wait until it proves its new strategic focus is working, Mr. Bradley suggested. "I'd think they'd want to show tangible results before they consider renaming the company," Mr. Bradley said. Those results are coming, Mr. Francis suggested, despite a first quarter that was so disappointing that JetForm pre-announced the results. The company lost $4.5-million on revenue of $22.1-million in the quarter ended July 31, due to what Mr. Francis called "unsatisfactory results in our North American commercial and professional services units." He has taken steps to fill the gaps in JetForm's sales and service coverage and promised better results ahead, starting in the current second quarter.