BuildNet Completes Successful Live Field Test of the BuildNet E-Building Exchange; Multi-Stage Live Transaction Flows To and From Builder and Supplier.Business/Technology 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)--April 11, 2000 BuildNet, Inc., a leading provider of management software to homebuilders and suppliers in the residential construction industry, today announced the successful completion of its first, live, billable transaction. On March 30, in the first live test of the BuildNet E-Building Exchange, Carolina Carolina (kärōlē`nä), city (1990 pop. 177,806), Puerto Rico. Located 7 mi (11 km) SE of San Juan, it is a residential suburb of the capital, as well as a commercial and industrial center. Holdings and a local builder exchanged requests for price, return requests for price, purchase orders and invoices across different computer systems through the BuildNet E-Building Exchange hub. The transaction, which originated in East Lansing, Michigan East Lansing is a city in the U.S. state of Michigan. The city is located directly east of Lansing, Michigan, the state's capital. Most of the city is within Ingham County, though a small portion lies in Clinton County. , used systems deployed by Carolina Holdings in conjunction with a local builder who used BuildSoft, one of BuildNet's seven builder management software systems. The transaction was facilitated by NxTrend Technology, Inc., now a BuildNet subsidiary, which supplies the back-office 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. system for Carolina Holdings. The BuildNet-enabled exchange of data verifies that the BuildNet system can successfully populate To plug in chips or components into a printed circuit board. A fully populated board is one that contains all the devices it can hold. a substantial range of data fields, including: customer ID; customer address and phone; supplier ID and name; delivery date and address; tax ID number; cost of the products; permission to split delivery; supplier SKU (StockKeeping Unit) The number of one specific product available for sale. If a hardware device or software package comes in different versions, there is an SKU for each one. SKU - stock-keeping unit number; product description; quantity; unit of measure; unit price; sub-total; delivery, handling and finance charges; previous payment for credit; and final cost of all items. "Successfully sending data through the BuildNet E-Building Exchange, from the back-office system of a builder to the back-office system of his supplier, so that the data automatically and correctly populates each systems' data fields, is a substantial step for us," said Keith T. Brown, BuildNet chairman. About BuildNet, Inc. BuildNet, Inc., located in Research Triangle Park, N.C., is a leading provider of management software to homebuilders and suppliers in the residential construction industry. BuildNet's objective is to be the business-to-business 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. 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, suppliers, 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' and suppliers' management systems. In addition, manufacturers will be able to place product information and catalogs on the BuildNet E-Building Exchange for access by homebuilders and suppliers. BuildNet is testing the BuildNet E-Building Exchange and expects to initiate a limited market rollout in two cities during the second quarter of 2000 and plans to commence a commercial rollout in an additional four to six cities in the second half of 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 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 the Company's limited Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the operating history, the development and rollout of the BuildNet E-Building Exchange, and the acceptance of the BuildNet E-Building Exchange by any of the Company'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 the Company's SEC filings, including its Registration Statement on Form S-1. Products and company named herein may be trademarks of their respective owners.(c)2000 |
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