BroadVision to Deliver Visa Purchasing Card Support
U.S. Federal Government Mandated Use of Purchasing Cards; Will Create Tremendous Demand in 1999 for E-commerce Systems that Support New Standard
REDWOOD CITY, Calif., Dec. 1 /PRNewswire/ -- BroadVision, Inc. (Nasdaq: BVSN - news) today announced that it will support online Visa Purchasing Card transactions in an upcoming BroadVision-Visa co-branded release of BroadVision One-To-One™ Commerce. A purchasing card is a credit card that uses traditional credit card networks to simplify purchasing and provide additional transaction information to enterprises and to merchants. Corporate users will benefit from secure Internet transactions conducted using their Visa Purchasing Cards with BroadVision One-To-One Commerce applications.
The U.S. Federal Government is mandating that all transactions under $2,500 made by government purchasing agents be transacted using a purchasing card in a drive to reduce costs and simplify accounting by automating paper-driven purchasing processes. The mandate will go into effect in 1999, creating a tremendous demand for systems that support transactions made with purchasing cards. In addition, companies looking to streamline their accounts receivable processes will be able to use purchasing card technology to help automate their enterprises.
''As the leading supplier of e-commerce applications, BroadVision is pleased to deliver a solution that incorporates Visa Purchasing Card functionality. BroadVision's One-To-One Commerce application, combined with robust payment support, will provide merchants and enterprise users with a new level of secure and personalized credit card transactions over the Internet,'' said Dr. Pehong Chen, president and CEO of BroadVision, Inc.
''As a market leader, BroadVision delivers online solutions with state-of-the-art personalization and transaction capabilities,'' said Cory Gaines, vice president of Commercial Card Acceptance for Visa U.S.A. ''With the integration of our Visa Purchasing Card, we have a joint solution that is customer-focused and facilitates enterprise and merchant adoption of this emerging procurement standard.''
Purchasing cards combine the functionality of credit cards with the expertise of the enterprise purchasing manager in every transaction. As a result, they provide greater enterprise control over distributed purchasing processes and provide the following benefits:
* Reduction of paper-based requisitions, purchase orders, invoices, and
checks as employees order merchandise electronically, directly from the
supplier;
* Time- and cost-savings as employees spend less time on paperwork; and
* Automated controls for single transaction dollar limits, overall
spending limits, and merchant category blocking.
The BroadVision solution will merge the efficiency of the purchasing card with the power of an industry-leading personalized e-commerce application. Corporate users will be empowered to transact securely over the Internet using their purchasing cards. With extended support for detailing transactions down to item level (Level 2 and Level 3) purchasing card transactions, enterprises can receive the same level of transaction detail found on expensive paper-based invoices. And, this information can be fully integrated, electronically, with the organization's general ledger.
''A purchase order may cost anywhere from $50 to $300 to process, regardless of the dollar value of the purchase,'' said Gaines. ''Purchases under $5,000 usually account for up to 90% of all transactions, but only 10% of the total purchasing dollars spent. The Visa Purchasing Card significantly reduces the need for purchase orders and related paperwork, so it will help companies improve efficiency, increase control, and reduce expenses.''
About BroadVision
BroadVision, Inc. is the leading worldwide supplier of one-to-one Internet business applications for extended relationship management (XRM). BroadVision's end-to-end solutions enable companies to rapidly deploy and cost-effectively operate secure, scalable, intelligent, and flexible electronic business and knowledge management applications for the financial services, retail, distribution, high technology, telecommunications, and travel industries.
The company's entire product line has experienced exceptional growth and increasing acceptance by Global 2000 businesses with over 200 customers including American Airlines, Credit Suisse, Development Bank of Singapore, Fingerhut, Hewlett-Packard, IBM, Liberty Financial, META Group, Nortel Networks, RS Components, Standard Chartered Bank, Silicon Valley Bank, Solectron, Thomas Cook, Visa USA and Xerox. BroadVision is headquartered in Redwood City, Calif. and maintains an extensive network of subsidiaries and licensed resellers in North and South America, Europe, Australia and Asia. The company can be reached at 650-261-5100 or at broadvision.com www.broadvision.com. BroadVision Federal division can be reached directly at 703-724-4803.
NOTE: BroadVision and BroadVision One-To-One are trademarks or registered trademarks of BroadVision, Inc. in the United States and other countries.
SOURCE: BroadVision, Inc. |
