Captura Announces Ford Motor Company Takes Multi-Million Dollar Equity Stake in Captura; Investment Will Drive Development of Captura Expense Engine Infrastructure Technology.Business Editors, Technology Writers BOTHELL, Wash.--(BUSINESS WIRE)--Sept. 25, 2000 Ford Motor Company and Captura(R) today announced a multi-million dollar investment by Ford in Captura to expand its technology to provide a complete corporate expense management solution. The technology will provide a single, unified system for automating all corporate expenses and online e-business transactions. "Ford has been using Captura Expense(TM) to automate the travel expense process throughout our organization, and we recognize the potential of Captura's technology to automate other business processes, including e-procurement, purchasing, and online exchange transactions," said Jim Yost, Chief Information Officer at Ford. "Through our investment in Captura, we're supporting an innovative technology that can integrate all transactions into a single expense management system to help us make more intelligent spending decisions." "Captura Expense Engine is the next major advancement in total expense management, solving a complex process in capturing, validating, reconciling, integrating, and analyzing global expense transactions," Dan Vetras, 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 Captura, said. He said Captura is the first company to provide an integrated solution to the problems created when customers use multiple financial systems. Vetras said Ford's commitment to innovative technology and Captura is a strong indication of his company's leadership in helping make companies more profitable and productive through total expense management systems. "Using Captura Expense Engine can result in substantial, quantifiable savings for mid-size and large companies. It can help reduce processing costs for invoices, expense reports, and purchase orders from an average of more than $80 per transaction to $2-4, save even more by using the expense data generated to negotiate better vendor agreements and reduce expense reimbursement to employees and suppliers from 30 days or more to as little as 24 hours," Vetras said. What is Captura Expense Engine? Most companies currently use multiple financial procurement systems for travel and entertainment, 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. , purchasing, and online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. exchanges. However, there is typically no direct integration between these systems, making it difficult to determine how to reconcile expenses once they are submitted. Captura Expense Engine provides the solution that allows businesses to realize the full potential of e-commerce by enabling buyers and sellers to seamlessly perform all financial processes and operations online. Captura Expense Engine captures expenses, regardless of purchase type (indirect vs. direct) or purchase vehicle (e-commerce vs. traditional), and places that information into a single data repository See repository. where a variety of e-services are applied. Captura Expense Engine benefits companies like Ford by providing detailed expense information in a single, unified system for managing and accounting for corporate expenses, empowering management to make better decisions about allocation of company resources. About Captura Captura, headquartered in Bothell, Washington Bothell is a city located in the state of Washington. The population was 30,150 at the time of the 2000 census. Prior to annexation and the 2000 census, the northern portions of Bothell which lie in Snohomish County were considered a part of the Alderwood Manor-Bothell North , delivers Web-based total expense management application services See ASP and Web services. tailored to meet the broad needs of companies worldwide. Captura's hosted total expense management solutions enable companies to quickly realize significant return on investment by capturing, validating, reconciling, integrating, and analyzing their essential financial data, allowing them to make accurate and timely business decisions. Captura has offices in Albuquerque, NM; Atlanta, GA; Boston, MA; Chicago, IL; Dallas, TX; Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , CA; Minneapolis, MN; New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY; Portland, OR; 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 , CA; Seattle, WA; St. Louis, MO; Minneapolis, MN and Wayne, NJ. Captura's European headquarters are in London, with additional European offices in Paris and Milan and an office in Sydney, Australia. Customers include Ford Motor Company, Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. , Ericsson, Harman International, Geico Direct, Booz Allen & Hamilton, Nextlink, and others. For more information about Captura and its products, in the U.S. call 425/424-1000; in Europe call +44 1628 519 000 (U.K.) or +33 153 53 67 15 (France); or visit the company's Web site at http://www.captura.com. About Ford Ford Motor Company is the world's second largest auto maker, with more than 370,000 employees in 200 markets on six continents Six Continents is a large retail PLC in UK which split into Six Continents Retail known as Mitchells and Butlers plc. The hotels and soft drinks business of Six Continents PLC is now known as InterContinental Hotels Group PLC. . Its automotive brands include Aston Martin Aston Martin Lagonda Limited is a British manufacturer of luxury performance cars, whose headquarters are at Gaydon, Warwickshire, England. The company name is derived from the Aston Clinton hill climb and one of the company's founders, Lionel Martin. , Jaguar, Volvo, Lincoln, Mercury, Ford, Mazda and Th!nk. Its automotive-related services include Ford Credit, Quality Care, Hertz, and Visteon Automotive Systems. |
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