CascadeWorks Pioneers New Software Application Category: Services E-Procurement.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Aug. 28, 2000 CascadeWorks today announced its launch into the enterprise application market with a web-based hosted solution for managing services e-procurement. CascadeWorks brings to the services e-procurement market an experienced management team, a world-class development organization and a solution based on requirements collected from more than thirty companies. CascadeWorks was founded to provide solutions that streamline the complex processes involved in procuring Procuring, in general, is the act of acquiring goods or services, usually by contract. It may refer to:
With services spend representing between one-third to upwards of two-thirds of a company's annual purchase dollars, the opportunities for cost savings and strategic impact are significant. A New Breed of Enterprise Applications "CascadeWorks has set out to address the next big challenge that companies face in enterprise automation: streamlining processes that cut across departmental and company boundaries," said Diana Jovin, 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 CascadeWorks. By providing a hosted application, CascadeWorks' solution enables companies to communicate more effectively with their vendors. "Most enterprise applications help companies achieve operational efficiencies by streamlining transactions within the firewall, but rely on paper or email for inter-company communication," said Jovin. "By crossing organizational boundaries, CascadeWorks enables companies to solve existing business problems that have not yet been addressed by internal systems or by online marketplaces." Services E-Procurement Services e-procurement is a new application category that describes the strategic purchasing of corporate services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. and management of services vendors through a collaborative hosted application. Like product-driven e-procurement, services e-procurement offers operational efficiencies by enabling companies to aggregate buying, obtain vendor discounts and reduce 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). . To achieve these efficiencies, services e-procurement solves the unique complexities of a purchase transaction in which there is no 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. , the terms of the contract change frequently, there is a broader diversity of vendors and there are legal and tax compliance issues that must be addressed. "CascadeWorks is in a position to transform an industry that has been plagued with an inefficient and cumbersome cum·ber·some adj. 1. Difficult to handle because of weight or bulk. See Synonyms at heavy. 2. Troublesome or onerous. cum process for a long time," said John Zwieg, Director of Staffing at Inktomi and a member of CascadeWorks' board of advisors. "The team's approach to soliciting real customer requirements has been impressive." Seasoned Management Team with a Track Record of Success CascadeWorks was founded in November 1999 by former senior managers of NetDynamics, the pioneer of the Internet application server market acquired by Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. in late 1998. CascadeWorks' management team brings with it expertise in building a world class startup organization, pioneering new markets, customer-centric product development and web-based enterprise application architecture. CascadeWorks' founders include Diana Jovin, president and CEO, and Todd Greene Todd Anthony Greene (born May 8, 1971 in Augusta, Georgia) is a catcher in Major League Baseball who is currently a free agent. He previously played for the Anaheim Angels (1996-2000), Toronto Blue Jays (2000), New York Yankees (2001), Texas Rangers 2002-2003) and the Colorado , Chief Technology Officer. "The CascadeWorks founders' business and technical expertise, combined with their startup experience and knowledge of the enterprise application market marks this company for success," said Doron Sherman, founder of NetDynamics and an investor in the company. CascadeWorks' advisory board includes thought leaders in online procurement and staffing: Drew Harman, Vice President of Product Management at Ariba; Robert Freedman freed·man n. A man who has been freed from slavery. freedman Noun pl -men History a man freed from slavery Noun 1. , Co-Founder of Eleven Acceleration; Kent Godfrey, Chairman and CEO of Frictionless Commerce; and John Zwieg, Director of Staffing at Inktomi. About CascadeWorks CascadeWorks is based 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 and is privately funded. The company is currently in beta with charter customers and is planning to launch its solution later this year. CascadeWorks was founded to provide solutions that streamline the complex processes involved in procuring services, with an initial focus on the procurement and management of a company's contingent workforce. The company's solution will provide organizations with operational efficiencies as well as the visibility and insight needed to effectively manage their dynamic community of staffing and consulting vendors. For more information, please visit: www.cascadeworks.com. |
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