Brookfield Homes Enters into E-Commerce Alliance with BuildNet.Business Editors/High Tech Editors RESEARCH TRIANGLE PARK Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C.--(BUSINESS WIRE)--August 22, 2000 BuildNet to Supply Brookfield Homes and its Subsidiaries With Integrated Business-to-Business Capabilities; Brookfield Homes to Encourage Adoption of BuildNet E-Building Exchange BuildNet, Inc., a leading provider of management software and e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. services to homebuilders, dealers, and suppliers in the residential construction industry, today announced that it has entered into a contract with Brookfield Homes and its subsidiaries to provide Brookfield with business-to-business electronic commerce services. The contract also provides Brookfield Homes with incentives to encourage adoption of BuildNet among its trading partners, subcontractors, dealers, and suppliers. Under the agreement, BuildNet will provide Brookfield Homes with business server connectivity and e-commerce solutions, including the capability to request prices and quotes, issue purchase orders and process invoices. BuildNet plans to link Brookfield Homes' back-office or enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ) systems to the ERP systems of their dealers and suppliers through BuildNet. Some of Brookfield Homes subsidiaries use the FAST project management system, one of BuildNet's seven project management solutions. BuildNet will also provide training to help Brookfield Homes reliably send transactions to its dealers and suppliers. "Brookfield Homes is widely recognized as one of America's most successful and technologically advanced homebuilders," said Nathan Morton Morton, village (1990 pop. 13,799), Tazewell co., central Ill., in a grain-farming and livestock area; inc. 1877. Food is canned, and tractor parts, washing machines, and pottery are manufactured. , BuildNet's Chief Executive Officer. "The agreement between BuildNet and Brookfield Homes demonstrates their commitment to true e-commerce functionality using a system that should allow Brookfield Homes to improve its business by viewing and integrating dealers' product offerings into its back-office system in real-time using the Internet." BuildNet's Internet-based e-commerce system is scheduled for commercial introduction in 2000. It should enable participating builders, dealers and suppliers to control and automate To turn a set of manual steps into an operation that goes by itself. See automation. Internet-based price and quote requests, and the ordering and delivery of building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . , thereby improving construction planning and efficiency. Through the BuildNet.com Catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. , manufacturers, dealers and suppliers should be able to efficiently update product information and introduce new products using highly individualized in·di·vid·u·al·ize tr.v. in·di·vid·u·al·ized, in·di·vid·u·al·iz·ing, in·di·vid·u·al·iz·es 1. To give individuality to. 2. To consider or treat individually; particularize. 3. Internet-based tools, without resorting to traditional, costly paper-based delivery methods. In addition to catalog services, BuildNet also plans to enable dealers and suppliers to track inventory, delivery, and payments. About Brookfield Homes Brookfield Homes, with offices in California, Virginia, Maryland, Florida and Colorado, sold 2,609 homes in 1999 and is ranked 32nd on the prestigious Builder 100 list. Brookfield Homes operates in 14 local markets, each with a team of professionals who understand the needs of their consumers and actively participate in local community service. Brookfield Homes has been building homes throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. since 1956. The company is a subsidiary of Brookfield Properties Brookfield Properties Corporation TSX: BPO NYSE: BPO is a Toronto-based North American commercial real estate company. Brookfield Asset Management owns 50% of its outstanding common shares. Corp., which is publicly traded and headquartered in Toronto. The integrity and financial power of Brookfield Properties is the foundation for its stability and success. About BuildNet, Inc. BuildNet, Inc., located in Research Triangle Park, N.C., is a leading provider of management software and e-commerce services to homebuilders, dealers, and suppliers in the residential construction industry. BuildNet's objective is to be the business-to-business e-commerce solution for the residential construction industry. To reach that objective, BuildNet has designed the BuildNet E-Building Exchange to provide secure Internet-based procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. , e-commerce and information services See Information Systems. for homebuilders, dealers, distributors, and manufacturers. The BuildNet E-Building Exchange will allow users to confirm pricing and product specifications, place purchase orders and add both product and order information automatically to builders', dealers', distributors' management systems. In addition, manufacturers will be able to place product information and catalogs on the BuildNet E-Building Exchange for access by homebuilders, dealers, and distributors. BuildNet is testing the BuildNet E-Building Exchange and expects to initiate a limited market rollout in 2000. BuildNet's aggregated software customer base includes homebuilders that accounted for approximately 43% of 1999 U.S. single-family home closings. Learn more about BuildNet by visiting http://www.buildnet.com . This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . The actual results might differ materially from those projected in the forward-looking statements for various reasons, including BuildNet's limited Internet operating history, the development and rollout of the BuildNet E-Building Exchange and the acceptance of the BuildNet E-Building Exchange by any of BuildNet's existing software customers or any new customers. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in BuildNet's SEC filings, including its Registration Statement on Form S-1. All other trademarks referenced herein are trademarks and/or registered trademarks of their respective companies. |
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