eScout has completed an agreement with the Veterans Corporation to link various Veterens business together. Commerce One is an investor in eScout. In addition eScout is a major user of CMRC software with over 1300 banks using eScout's procurement software.
Karma (long CMRC)
eScout(SM) Announces Greatly Expanded Scope of Engagement for The Veterans Corporation
PR NEWSWIRE - May 29, 2002 14:58
LEE'S SUMMIT, Mo., May 29, 2002 /PRNewswire-FirstCall via COMTEX/ -- eScout(SM), a leading e-business solutions provider and marketplaces operator, announced today the completion of a two-part contract with The Veterans Corporation that enables government agencies, as well as private industry, to exchange products with Veteran-owned businesses in a secure, online marketplace -- The Veterans MarketPlace (http://www.veteranscorp.org ).
"The Veterans Corporation was created to help Veterans capitalize on the high-end leadership experience and cutting-edge technical training they received in the military, and to stimulate the small business sector of our economy with the development of new Veteran-owned businesses," said retired Army Maj. Gen. Charles R. Henry, president of The Veterans Corporation. "In creating The Veterans MarketPlace, we have established an e-business tool for nearly five million Veteran-owned small businesses across America, while encouraging the U.S. government to direct at least some of its spending to these enterprises."
Through Public Law 106-50, Federal government agencies have been requested by the U.S. Congress to spend 3 percent of their discretionary budgets with Service-Disabled Veteran business owners, and 3 percent with Veteran business owners (non-disabled). Before now, finding those Veteran-owned businesses has been a time-consuming process. With the eScout-powered Veterans MarketPlace, business owners will be instantly accessible and enabled to transact electronically with government purchasers.
The Veterans MarketPlace is integrated to the government's Purchasing Card program, which is the preferred method of payment, allowing current government purchasing agents and payment processes to connect seamlessly to the MarketPlace. Additionally, eScout's powerful reporting capabilities allow buyers to trace purchasing history by supplier, purchase order, and invoice, helping to ensure government dollars are properly tracked and recorded, thus reducing the opportunity for waste, fraud and abuse.
"There are nearly 5 million Veteran-owned businesses that are potentially eligible to conduct business with the U.S. government, but finding them has been a challenge, until now," said Tom Corey, president of Vietnam Veterans of America. "Establishment of The Veterans MarketPlace will enable government purchasing agents to rapidly and efficiently gain access to these enterprises, including a portion of the 350,000 Service-Disabled Vets who own businesses. Additionally, those Veteran supplier companies can become buyers in the MarketPlace, allowing them to reap the benefits of streamlined purchasing and efficiencies for their businesses. This is a great day for Veteran entrepreneurs!"
Veteran-owned businesses will leverage electronic technologies from The Veterans MarketPlace, enabling them to automate, control and streamline purchasing activities through the MarketPlace, featuring eScout's network of millions of products and services. The Veterans Corporation and eScout will continue to evaluate Veteran-owned businesses for adoption into the growing supplier network.
"With the Memorial Day tributes that occurred this past weekend, our company motto From Many, One, resonates for us today in light of this partnership," said Sandy Kemper, founder and CEO of eScout. "The millions of U.S. Veterans who have served this nation under one flag now have a unified place to conduct business. It is an exciting moment in the life of our company and we are proud to undertake this project to further enhance the possibilities for U.S. Veterans, while providing our government with additional operational efficiencies to aid in its success."
For more information, contact The Veterans Corporation toll-free at 866-2VETCORP or eScout, toll-free at 888-726-8848.
About eScout
eScout(SM) is a leading e-business services provider and marketplaces operator offering an array of hosted e-commerce, purchasing, billing and payment solutions. eScout provides increased operational efficiencies, reduced costs and managed business processes for its clients. eScout powers more than 100 distinct public and private marketplaces and has created an international network of 1,300 banks to help distribute its products and services. eScout's investors include: Mayfield Fund; Oak Hill Venture Partners, L.P.; Citizens Financial Group, Inc.; Harris Bank (NYSE: BMO); Golden State Bancorp Inc. (NYSE: GSB); Bank of Montreal (NYSE: BMO; Toronto) and Commerce One (Nasdaq: CMRC). eScout is headquartered at 850 NW Chipman Road, Lee's Summit, Missouri 64063. Visit escout.com or call 1-888-SCOUT4U for more information.
About The Veterans Corporation
The Veterans Corporation is the only organization solely dedicated to Veteran businesses and Veteran entrepreneurship. The National Veterans Business Development Corporation, commonly referred to as The Veterans Corporation, was created by an act of Congress in 1999 (PL106-50). Federally chartered as a 501(c)3 non-profit organization, The Veterans Corporation's mandate is to provide access to capital, training and resources to Veteran business owners and Service-Disabled Veteran business owners. The Veterans Corporation provides Veterans and Service-Disabled Veterans with the tools they need to start and expand successful businesses, including: entrepreneurial training, access to markets, access to capital, and mentoring programs. No other public or private organization provides this specific assistance to the Veteran community. |
