Applied Research Technologies -- ART -- to License Reverse Auction Software to Quantum Corporation.Business Editors/Computer Writers SAN FRANCISCO--(BUSINESS WIRE)--May 1, 2000 Applied Research Technologies, Inc. (ART) -- (www.applied-research.com) announced today that it has licensed its ARTools software (www.ARTools.net) package to Quantum Corporation (www.quantum.com), a Fortune 500 company and a leading supplier of information storage solutions. The license includes the full suite of web-based software developed by ART. Quantum will use the software to automatically audit, track, and manage all elements of its telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. , including the capability to reverse-auction its contracts for complex global voice and data networks. The ARTools software allows large companies to completely automate and manage the entire business-to-business purchasing lifecycle of global networks. The software's ability to directly read and interpret bills from major carriers like AT&T and MCI (1) (Media Control Interface) A high-level programming interface from Microsoft and IBM for controlling multimedia devices. It provides commands and functions to open, play and close the device. (2) (Microwave Communications Inc. , enables the client to automate the preparation of traffic, bid, and other crucial data for auction without the need for traditional manual processes. ARTools reduces the time required to complete a request for proposal (RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. ) process from an average of 3-6 months to 7 days or less, while significantly decreasing the workload required by traditional RFPs. In the reverse auction bidders may participate in an accelerated RFP process, which provides them and the client with instant feedback and scoring on bids, and accelerates the decision process. Ed Marill, Director of IS Worldwide Business Management for Quantum, said: "We selected the ARTools software because its features met our requirements for auditing and managing at the enterprise level across all our telecom providers, suppliers, and services." Brad Buxton, ART's president and co-founder said, "We believe the reverse auction capability will fundamentally change the way Fortune 500 and high technology businesses buy and sell telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. products and services. In addition to providing instant and automatic clarity to the end user, carriers and vendors will get immediate feedback in a format which is less time consuming and much easier to respond to. We think the potential is huge for dramatic and immediate savings of time, personnel resources, and money." About ARTools ARTools is a suite of Web-enabled software applications, which facilitate and report on the entire purchasing cycle. The software tools automatically acquire bill data, develop a rationale for optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. , produce economic analysis, track, trend, report and enable competitive bidding Competitive bidding A securities offering process in which securities firms submit competing bids to the issuer for the securities the issuer wishes to sell. competitive bidding 1. and contracting via an on-line web auction format. Completing the lifecycle, the software also tracks implementation, verifies the application of new rates, and runs audit reports facilitating the detection of fraud. The ARTools system takes advantage of the increased economies, speed to decision, shortened cycle times, improved sales efficiency, reduced transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , reduced purchasing and administrative expenses, and better prices for goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , available through this business to business process. The ARTools product provides the opportunity for Fortune 500 companies to use an automated, auction-based, web venue to easily purchase complex vendor services. This can be done on any scale, in an accelerated environment, while still allowing for customization and interpretation of the bidder responses to unique needs, such as terms and conditions, and service level requirements of each organization. With a point-and-click RFP and real time feedback, vendors will conserve time and personnel resources, effectively tailor their bid to the needs of a prospective client, and ultimately expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. the conclusion of the bid process. This is due in part to the inherent automatic weighting and scoring of the bid, which takes into account numerous other factors in addition to price alone. The system enables bidders to efficiently produce high quality comparable bid input in less than five percent of the time required by legacy paper based RFP systems. About Applied Research Technologies (ART) Applied Research Technologies (www.applied-research.com) is a closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. California Corporation with headquarters in SLC (Subscriber Loop Carrier) Lucent's designation for its digital loop carrier (DLC) products. See digital loop carrier. See also 386SLC. , Utah, that advises predominantly pre·dom·i·nant adj. 1. Having greatest ascendancy, importance, influence, authority, or force. See Synonyms at dominant. 2. Fortune 500 and high technology, internet-centric clients on the purchase, design, implementation, and audit of their telecommunications services. ART has been an objective facilitator of business-to-business transactions for over fifteen years. With the development of its Software tools and the release of ARTools, Applied Research can deliver the breadth of its historical expertise in real time, on the web. More than a simple search engine for comparative pricing, ARTools (www.ARTools.net) is a complete management system and web auction platform for the ongoing procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. and optimization of voice, data, and Internet services. For more information about this or other Applied Research services, call 800/234-0000. |
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