Clarke American Checks, Inc. Pilots elcom's Remotely-Hosted eProcurement System.Business/Technology Editors NORWOOD, Mass.--(BUSINESS WIRE)--March 5, 2001 International Group - Novar plc (formerly Caradon plc) Expands eProcurement Pilot Program to its U.S. Operations elcom, inc., the eProcurement and eMarketplace solutions subsidiary of Elcom International, Inc. (Nasdaq: ELCO ELCO Eastern Lebanon County (school district, Pennsylvania) ELCO El Camino ELCO Electrolytic Capacitor ELCO Early Opening Local Census Office ELCO Electronic Company ), today announced that Clarke American Checks, a U.S. subsidiary of Novar plc (formerly Caradon plc of the U.K.), has selected PECOS Internet Procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. Manager (PECOS.ipm), elcom, inc.'s, eProcurement solution, for implementation in its U.S. corporate offices to automate To turn a set of manual steps into an operation that goes by itself. See automation. its indirect materials purchasing process Purchasing Purchasing is the formal process of buying goods and services. The Purchasing Process can vary from one organization to another but there are some key elements that are common throughout The process usually starts with a 'Demand' or requirements . Kevin Barry
Incremental cost is additional or increased cost of an item or service apart from its actual cost. benefits will be realized in both the procurement and invoice An itemized statement or written account of goods sent to a purchaser or consignee by a vendor that indicates the quantity and price of each piece of merchandise shipped. A consular invoice is one used in foreign trade. processing activities." George G. Bordon, Vice President of Procurement for Clarke American, stated, "The elcom pilot is particularly exciting for us as it represents our first move into the world of eProcurement. We look forward to using PECOS to build our business case for implementing eProcurement across our operations. Initial impressions suggest elcom's eProcurement solution will reduce our costs by simplifying our purchase-to-payment processes, allowing for more timely capture of payment discounts, and by driving compliance with our negotiated contracts. Reactions from system users have been quite positive, and many have commented about the simplicity of ordering as compared to our enterprise purchasing system." Robert J. Crowell, elcom, inc.'s Chairman 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. , said, "Clarke American Checks is a subsidiary of Novar plc (formerly Caradon plc) and represents further support for PECOS.ipm's adaptability a·dapt·a·ble adj. Capable of adapting or of being adapted. a·dapt a·bil and elcom's experience in implementing its eProcurement solution across a multi-national corporation. We look forward to working with Clarke American Checks to assist them with their procurement system needs." elcom, inc.'s Product Offerings PECOS Internet Procurement Manager (PECOS.ipm) is a remotely-hosted eProcurement solution that automates the entire procurement process from product information discovery and ordering through financial settlement. PECOS.ipm provides client's personnel with browser-based self-service purchasing functions directly from their desktops, including multi-vendor electronic catalogs that support standard or negotiated "custom" pricing with preferred suppliers. PECOS Internet Procurement Manager's full-circle functionality improves service at all levels, including support for "order status" inquiries, automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. e-mail authorization The right or permission to use a system resource; the process of granting access. See access control. , and time-stamped audit trails throughout the entire transaction cycle. PECOS Internet Exchange See IXP and NAP. Manager (PECOS.iem) is a remotely-hosted eMarketplace solution that enables market makers to create communities of commerce without the need to invest in infrastructure, custom application development and ongoing system management. PECOS.iem provides market makers with a complete solution that has been designed to automate the entire 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 commerce process by enabling new levels of trading partner collaboration. Remotely hosted by elcom, inc., PECOS Internet Exchange Manager, is based on an open collaborative commerce architecture which is designed to enable trading partner self service while still preserving the control that is critical to effective eMarketplace management. PECOS Internet Exchange Manager's collaborative commerce framework enables instant usability How easy something is to use. Both software and Web sites can be tested for usability. Considering how difficult applications are to use and Web sites are to navigate, one would wish that more designers took this seriously. See user interface and usability lab. , trade partner self-service and process adaptability. elcom's eCommerce Network(TM) technology platform is a remotely-hosted solution that provides a technology framework for the enablement and organization of various eBusiness solutions such as public and private eMarketplaces. It provides an infrastructure that includes a destination hub, directory services, search engine, platform access manager and XML-based interfaces designed to enable and facilitate the exchange of information between B2B eCommerce technology platforms. elcom's eCommerce NetworkTM will power the Company's eMarketplace World NetworkTM. About Clarke American Checks, Inc. Producing more than 11 billion checks a year at unmatched rates of accuracy and rapid delivery, Clarke American Checks, Inc. is one of the largest printers of financial institution checks in the United States. Annually, the company produces more than 50 million orders for checks and share drafts, which are marketed through more than 4,000 banks, credit unions and other financial institutions. Clarke American's 99.92% printing accuracy rate is unmatched in the industry. For more information, visit www.clarkeamerican.com. About Elcom International, Inc. Elcom International, Inc. (www.elcominternational.com), is comprised of two wholly-owned subsidiaries, elcom, inc., a leading provider of eProcurement and eMarketplace solutions and Elcom Services Group, which specializes in enterprise level business product sales and services. elcom, inc. is the global leader of remotely-hosted eProcurement and eMarketplace solutions. elcom's innovative technology leadership with PECOS Internet Procurement Manager, the world's first "live" remotely-hosted eProcurement platform, and PECOS Internet Exchange Manager, its second generation eMarketplace platform, establishes the next standard of value and enables enterprises of all sizes to realize the many benefits of B2B eCommerce without the burden of infrastructure investment and ongoing content and system management. elcom solutions compete against such companies as Ariba, Inc., Commerce One, PurchasePro.com, and Clarus Corporation. Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and This press release includes statements that may 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. . All statements other than statements of historical fact, including, without limitation, those with respect to the Company's objectives, plans and strategies set forth herein and those preceded by or that include the words "believes," "intends," "expects," "will," "plans," "anticipates," or similar expressions, are forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Such risks and uncertainties include: the overall markets' and individual customers' acceptance and usage of the Company's electronic commerce software systems, the receptiveness re·cep·tive adj. 1. Capable of or qualified for receiving. 2. Ready or willing to receive favorably: receptive to their proposals. 3. of the capital markets to technology-related companies, corporate demand for (and price decreases of) PC products and other office products, changes in manufacturer policies reducing price protection and tightening on returns and other policies, the risks of doing business in foreign countries, and the impact of competitive technology products, competitive pricing pressures and specifically the availability and terms of appropriate working capital and/or other financing, including for elcom, inc., the Company's eBusiness subsidiary, as well as factors and other risks detailed in the Company's Registration Statement on Form S-3 and from time to time in the Company's other reports filed with the SEC. The Company assumes no obligation to update any of the information contained or referenced in this announcement. |
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