RoweCom and RightWorks Forge Strategic Alliance
RoweCom Named Exclusive Preferred Vendor for Knowledge Products
and Services for All RightWorks Distribution Channels
CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 20, 1999-- RoweCom Inc.
(Nasdaq: ROWE - news), the leading
provider of business-to-business e-commerce solutions for managing the acquisition of
knowledge resources, today announced
a strategic alliance with RightWorks, a leading provider of enterprise-class
employee-centric applications that aid in the
automation and management of the procurement process.
Through this partnership, RoweCom and RightWorks will integrate their flagship
products, Knowledge Store (kStore) and
ProcureWorks respectively, so that business clients can make purchases directly from
RoweCom's e-commerce sites while
using the integrated ProcureWorks system, saving both time and money.
RoweCom will be the only preferred vendor for subscriptions, books and other
knowledge products and services for all
RightWorks distribution channels as well as the default knowledge products provider on
the RightWorks catalog listing.
''RoweCom has the most comprehensive catalog of knowledge resources on the
Internet,'' said Vani Kola, president and CEO
of RightWorks. ''We strive to continuously enhance our offerings to our clients in order
to create as clear a benefit to them as
possible. We are excited about integrating RoweCom's vast catalog into our system.''
''The synergy between kStore and ProcureWorks couldn't be better,'' said Dr. Richard
Rowe, president and CEO of
RoweCom. ''This alliance reinforces our commitment to adding new distribution
channels and expanding our client base.
RightWorks is well known in the industry for the quality and breadth of their services,
and they are an ideal partner for
RoweCom.''
About RoweCom Inc.
A first mover in business-to-business e-commerce, RoweCom Inc. develops and
operates Web-based services that enable
businesses to manage the acquisition of knowledge resources such as magazines,
newspapers, journals and books.
RoweCom's flagship services, Knowledge Store (kStore) and Knowledge Library
(kLibrary), provide new levels of control,
convenience, and cost-savings, allowing companies to order, pay for and manage
45,000 titles online as well as 8 million
discounted books via RoweCom partner barnesandnoble.com. With clients ranging
from Fortune 1000 companies to academic
libraries, RoweCom serves organizations with intensive knowledge requirements and
high-volume purchases. The publicly-held
company [Nasdaq: ROWE] is headquartered in Cambridge, Mass. and has an office in
London, Ontario. For more
information, visit RoweCom on the Web at rowe.com or call
1-800-ROWECOM.
RightWorks is the leader in enterprise-class
employee-centric applications. These Web-based
applications allow organizations to automate and manage
the procurement, tracking, and reporting of goods and
services throughout the enterprise. RightWorks flagship
product, ProcureWorks, is designed to not only automate
the procurement process, but support best practices in
procurement, resulting in significant hard dollar savings in
operational spending.
RoweCom and RightWorks Forge a Strategic Alliance
RoweCom Forms Strategic Alliance With Clarus
Corporation
RoweCom's kStore to Support WebPurchasing(TM) Initiative
CAMBRIDGE, Mass.--(BUSINESS WIRE)--May 19, 1999-- RoweCom Inc. (Nasdaq: ROWE - news), the leading
provider of business-to-business e-commerce solutions for managing the acquisition of knowledge resources, today announced
a strategic partnership with Clarus Corporation (Nasdaq: CLRS - news), under which RoweCom's Knowledge Store (kStore)
service will be integrated with the Clarus(TM) E-Procurement application. Clarus, a pioneer in providing Web-based
commerce applications, will deliver its E-Procurement application as a component of the WebPurchasing(TM) offering.
WebPurchasing provides an end-to-end corporate purchasing solution which includes Clarus E-Procurement, integrated
MasterCard purchasing card, and the Microsoft Commerce Platform. This solution will be marketed to financial institutions and
companies who will in turn make the program available to their corporate clients. Clients will then have the opportunity to utilize
RoweCom's kStore to purchase from a selection of 45,000 magazines, journals and newspapers from over 15,000 publishers
online as well as 8 million discounted books.
''This is an outstanding opportunity for RoweCom,'' said Dr. Richard Rowe, president and CEO of RoweCom. ''Clarus is an
industry pioneer with strong business ties that will enhance our ability to significantly expand our client base. We look forward
to providing Clarus' clients with the knowledge products they need quickly and cost-effectively.''
''We chose RoweCom as a premium supplier because of its extensive catalog and paperless ordering capabilities,'' said Steve
Hornyak, vice president of strategy and business development of Clarus Corporation. ''Knowledge resources are an integral
part of any complete procurement system, and RoweCom is an industry leader. Our corporate clients using the WebPurchasing
program will be well served by all the exceptional suppliers affiliated with it.''
Substantially all of RoweCom's revenues are generated by the sale of magazines,
newspapers journals, books and other knowledge resources published by third
parties. The sales price of each knowledge resource during the reported periods
reflected the cost to RoweCom of the knowledge resource plus a transaction fee
retained by RoweCom. In addition, the high renewal rate of magazine subscriptions
offers RoweCom a significant annuity stream. Approximately 46.5% of RoweCom's
revenues for 1998 were generated from the renewal of subscriptions. RoweCom's
revenue is solely transaction based, unlike many Internet-based companies, which
are reliant on an advertising model.
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