AXS-One Inc. Announces AXS-One Enterprise v 7.0; Enhancements include self-service capabilities improving value chain collaboration.

Business Editors

RUTHERFORD, N.J.--(BUSINESS WIRE)--Dec. 13, 2001

AXS-One Inc. (AMEX: AXO), a leading provider of e-business solutions, today announced availability of AXS-One(TM) Enterprise version 7.0.

AXS-One Enterprise version 7.0 is the first of future planned releases that further expands existing interoperability by taking advantage of XML technology standards and collaborative processing supporting the extension of business processes across the enterprise and out to its customers, suppliers and business partners.

AXS-One Enterprise 7.0 is an effective platform to further e-business initiatives providing more visibility into the activities and processes of their customers, suppliers and partners. Significant feature enhancements include a redesigned bank reconciliation module, a new corporate budgeting module, and cash management processes designed to automate complex, high volume receivables. The openness of AXS-One Enterprise 7.0 allows for effective integration with other systems within a clients organization resulting in rapid return of value. Combining AXS-One Enterprise 7.0 with the collaboration solutions provided by AXS-One, increases efficiencies and performance of business activities between employees, customers and suppliers.

"Darebin City Council set itself the goal of upgrading applications and technology to take advantage of the collaborative features available with AXS-One Enterprise version 7.0 and AXS(TM) Desk. The implementation went very smoothly and within a very tight timescale demanded by management so as to minimize system downtime," said Mark Davies, chief financial officer, Darebin City Council. "The AXS-One financial applications comprising General Ledger, Procurement, Payables, Receivables and Fixed Assets were upgraded to take advantage of the new functionality and we added AXS-One's AXS Desk application, an Internet access feature, allowing for greater collaboration between us, our suppliers, and remote locations. The technology upgrade also included the upgrade in the server operating system from NT to Windows 2000."

"Organizations looking to accelerate collaboration within their supply chain will benefit quickly from AXS-One Enterprise version 7," said John Rade, president and chief executive officer, AXS-One Inc. "Interoperability is critical to the success of any collaborative commerce process and building onto existing systems makes sense when looking to maximize ROI. The AXS-One Enterprise solution accelerates the time to value by allowing for both integration with existing systems and their supply chain."

This press release contains forward-looking statements. Such statements are only predictions and actual events or results may differ materially. All forward-looking statements involve risks and uncertainties, including, without limitation, the risks detailed in the company's documents and reports filed from time to time with the Securities and Exchange Commission.

AXS-One, "Access Tomorrow Today", e-Cellerator, AXSPoint, AXS Desk and Tivity are trademarks of, and TransAXS is a registered trademark of, AXS-One Inc., in the U.S. All other company and product names are trademarks or registered trademarks of their respective companies.