Clarus Corporation to Provide Complete Procure-to-Pay System for Arkansas Blue Cross and Blue Shield.ATLANTA--(BUSINESS WIRE)--Feb. 3, 1999--Clarus Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CLRS CLRS Center for Labor Research and Studies CLRS Central Launch and Recovery Section CLRS Claims Legal Research System ) has been selected by insurance provider Arkansas Blue Cross and Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. (ABCBS) to install the Clarus(tm) E-Procurement solution for business-to-business e-commerce procurement. Implementation of the comprehensive Web-based "procure-to-pay solution" will begin immediately. Clarus E-Procurement will be deployed along with the full Clarus(tm) Financials suite to 12 sites across four states. The insurance company's initial evaluation of software solutions was driven by the necessity to address its purchasing needs. It soon became clear that the company's aging mainframe system, used for general ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. activities as well as budgeting and cost allocation, should also be replaced with an integrated suite of financials to enable an efficient procurement process. The Clarus plan administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. that would make replacing the mainframe feasible. The company plans to implement Claric initiatives by eliminating manual intervention and number-crunching!" said Mark White, executive vice presort pre·sort tr.v. pre·sort·ed, pre·sort·ing, pre·sorts To sort (mail) according to Zip Codes before delivering to a post office. , vice president of financial services at ABCBS, noted other deciding factors in the vendor selection procity to demonstrate a real understanding of ABCBS's business issues With the Clarus system, ABCBS ees control over a subset of pre-approved and bon our client roster, including Chartwell Re Holdings Corporation, American National Insurance Company American National Insurance Company (NASDAQ: ANAT) is one of the largest life insurance companies in the United States. The company was founded in Galveston, Texas by William L. Moody, Jr. in 1905. It operates numerous subsidiaries throughout several U.S. , Cigna, F&G Life, Protection Mutual Insurance, as well as Alabama and New Hampshire Blue Cross sites." Clarus differentiates its electronic procurement solution from competitive offerings by delivering the following features: -- Web-based technology with open message-based integration between heterogeneous backoffice systems -- Real-time procure-to-pay routing via the Microsoft Commerce Interchange Pipeline (CIP (1) (Common Isochronous Packet) The packet format used in time-based (real time) FireWire transmission. See FireWire, IEC 61883 and mLAN. (2) (Common Industrial P ) -- Flexible catalog management and content aggregation -- Capability to extend to an organization's entire employee base -- "Event-driven" purchasing for materials associated with specific, ongoing or recurring company events -- such as an employee's first day on the job or an industry trade show Founded in 1948, Arkansas Blue Cross and Blue Shield, an Independent Licensee of the Blue Cross and Blue Shield Association
Atlanta-based Clarus Corporation (www.claruscorp.com); (NASDAQ: CLRS) is a leading provider of Web-based applications for managing operational resources together with Financial and Human Resource applications for mid- to large-sized companies. Founded in 1991, the company's applications create high lifetime value by delivering sophisticated functionality while substantially reducing the time required for implementation, maintenance and upgrades. Clarus serves such customers as First Data Corporation, MasterCard International, Hyatt Regency Chicago The Hyatt Regency Chicago is a 246 foot tall Hyatt hotel on East Wacker Drive in Chicago, Illinois. The hotel operates around 2,000 guest rooms in two different towers. The towers are connected by both an above-ground skyway and an underground concourse. , T. Rowe Price T. Rowe Price (NASDAQ: TROW) is an independent global investment management firm and mutual fund manager based in Baltimore, Maryland. It was founded in 1937 by Thomas Rowe Price, Jr.. T. Associates, Inc., Investment Technology Group, Toronto Dominion Bank, The Container Store, H.D. Vest Financial Services, Lands' End and Chartwell Re Holdings Corp. NOTE TO EDITORS: THIS PRESS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE EXCHANGE ACT. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS AS A RESULT OF CERTAIN RISKS INCLUDING THAT THE BENEFITS EXPECTED BY THE COMPANY AS A RESULT OF THE ANNOUNCEMENT MAY NOT OCCUR. Clarus is a trademark of Clarus Corporation. Throughout this release, software and hardware products are mentioned by name. In most, if not all, cases, these product names are claimed as trademarks by the companies that manufacture the products. It is not our intention to claim these names or trademarks as our own. |
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