Capstan Systems and TradeCard Ally to Combine Global Supply Chain Execution and Financial Services Networks.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--Oct. 16, 2000 Capstan capstan Mechanical device used chiefly on board ships or in shipyards for moving heavy weights by means of ropes, cables, or chains. A capstan consists of a drum, driven either manually or by steam or electricity, that rotates about a vertical axis to wind in a line wrapped Systems Inc., the innovation leader in global supply chain execution, today announced a strategic alliance with TradeCard, Inc., the on-line trade transaction network and settlement company for businesses that buy and sell around the world. Capstan and TradeCard will work to provide common customers comprehensive visibility and control of their global supply chain operations from both the fulfillment (shipping, clearance and receipt of goods) and financial management (PO negotiation, order management, landed cost, trade financing and settlement) perspectives. "We continue to seek alliances with industry leaders such as TradeCard who will introduce innovation into the global supply chain execution process," said Ron Alvarez, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Capstan Systems. "Not only does this alliance aim to bring our customers web-native access to leading financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and financial institutions, but by bringing together critical supply chain execution and settlement capabilities we plan to enable the top global shippers to deliver breakthrough visibility, collaboration and efficiency to their global supply chain." The Capstan Network is a unique Internet Business Infrastructure offering a modular suite of web-native networked application services See ASP and Web services. -- landed cost, global logistics, import and export management -- capable of linking everyone who manages the information, processes, regulatory compliance and workflow for the movement of goods across international borders. TradeCard is a network that enables buyers and sellers to conduct and settle paperless trade transactions securely over the Internet. Since launching in the second quarter of 2000, TradeCard has forged alliances with Global 1000 shippers and financial services providers such as MasterCard, Comerica, and Fleet Bank. "One of the greatest challenges of global e-commerce is aligning the movement of goods and their associated documents with the international financial processes for procurement and settlement," said Kurt Cavano, chairman and CEO of TradeCard. "Capstan and TradeCard share a common vision for creating a global infrastructure to facilitate international trade. The end-to-end logistics, import and export functionality of the Capstan Network, plus the breadth of their relationships with leading global logistics services providers, make them an ideal partner in the effort to break down the walls between logistics and settlement." About Capstan Systems Capstan Systems delivers a breakthrough business-to-business infrastructure for Global Supply Chain Execution -- the movement of goods across international borders -- optimized for the new demands of an e-business world. A pioneering Internet Business Infrastructure (IBI See Information Builders. ) provider, Capstan Systems is creating a network linking all the participants in the global trade transaction lifecycle, enabling a valuable "network effect" for both corporate subscribers and logistics services providers using the Capstan networked application services. The Capstan Network is in use at major corporations worldwide, and is integrated within i2 Technologies' freightMatrix and tradeMatrix electronic marketplaces. By providing visibility, collaboration and control over the global supply chain, Capstan enables companies and B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business marketplaces to get the right goods to the right place, at the right time -- every time. About TradeCard TradeCard is a business-to-business e-commerce infrastructure that enables buyers and sellers to conduct and settle international trade transactions securely over the Internet. By aggregating buyers, sellers and disparate trade service providers, our solution automates and streamlines existing international trade transaction processes, which are complex, paper-based, time-consuming and expensive. Our objective is to provide a secure, reliable, cost-effective and easy-to-use solution for conducting and settling international trade transactions. In addition to these core transaction features, TradeCard members can contract for pre- and post-export financing, inspection services, cargo insurance and other value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. . TradeCard, Inc. is headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. with U.S. offices in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. and Chicago, and Asian offices in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and Taiwan. TradeCard can be found on the World Wide Web at http://www.tradecard.com. This press release contains a number of matters that constitute 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 presentation reflects the current views of TradeCard's management with respect to future events and is subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. |
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