Clarus Selected to Keep New Railroad Marketplace On Track; Providing Online Sourcing, Procurement and Global Settlement for $15Billion Marketplace.Business Editors ATLANTA--(BUSINESS WIRE)--Feb. 12, 2001 Clarus Corporation (www.claruscorp.com; 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 ), a leading business-to-business (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 ) e-commerce software solution provider, announced that RailMarketplace.com has selected Clarus(TM) to provide sourcing, procurement and payment settlement solutions for its marketplace and founding partners. RailMarketplace.com will service the worldwide railroad industry by delivering a private exchange creating a collaborative environment for its founders ultimately targeting short run railroads around the globe. The initial founders of RailMarketplace.com are five major North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. railroads; Burlington Northern Santa Fe Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. Corporation (BNSF BNSF Burlington Northern Santa Fe Corporation (railroad) ), Union Pacific, Norfolk Southern, Canadian National, and Canadian Pacific Railway Canadian Pacific Railway, transcontinental transportation system in Canada and extending into the United States, privately owned and operated. The construction of a railroad crossing the continent in Canadian territory was one of the conditions on which British . They will form a partnership with GE Global eXchange Services and iRail, Inc. for centralized applications for the exchange. Collectively spending in excess of $15 billion annually for supplies, these industry leaders have formed RailMarketplace.com to create an open, neutral marketplace. The goal of this marketplace is to reduce the costs associated with sourcing and procuring goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. by making it more efficient for buyers and sellers to transact business online. They plan to offer these efficiencies to all participants in the rail industry trading community. The initial goal of RailMarketplace.com is to bring buyers and sellers from across North America. "Clarus is able to provide some unique capabilities in the areas of auctions and online payment settlement that will deliver significant added value to many of the trading partners that will participate in RailMarketplace.com," said Mark Davis, interim 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. for RailMarketPlace.com. "We also felt that Clarus demonstrated an incredible sense of collaboration during our selection process. This is the kind of partnering we feel will be critical to the success of our marketplace. The comprehensive Clarus e-commerce solution will offer RailMarketplace.com members includes: Clarus Auctions - features competitive bidding Competitive bidding A securities offering process in which securities firms submit competing bids to the issuer for the securities the issuer wishes to sell. competitive bidding 1. , rule-based dynamic pricing, auctioning, collaboration, and wireless capabilities. Clarus eProcurement - provides an on-ramp to the marketplace with global procurement management, requisitioning, user driven business controls, automated workflow for routing and approvals. Clarus Settlement - provides a comprehensive solution for global payment settlement, financial institution integration, marketplace revenue management, payment netting and reconciliation. "We are extremely excited about the opportunity to work with the leaders in the North American rail transportation industry as they continue to evolve their procurement practices," said Steve Jeffery, CEO and president for Clarus. "Our prior track record with BNSF demonstrates Clarus' ability to deliver results by streamlining the supply chain process and enabling rapid deployment." Clarus joins the RailMarketplace.com team of technology providers, which includes GE Global eXchange Services, and iRail.com. GE Global eXchange Services (GXS GXS Global Exchange Services (GE) GXS Gun X Sword (anime) ) operates one of the largest B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. networks in the world, with more than 100,000 trading partners. iRail.com, Inc. is a leading provider of technology based solutions to the global transportation industry from end to end strategic e-commerce development to technology consulting services. About Clarus Atlanta-based Clarus Corporation (www.claruscorp.com; NASDAQ: CLRS), a leader in business-to-business (B2B) e-commerce, provides B2B procurement software and trading services that improve the efficiencies of Internet buying and selling for corporate purchasing and to enable digital marketplaces. Clarus provides a comprehensive solution from sourcing to procurement to payment settlement. Clarus solutions are being deployed at customer sites including Burlington Northern Santa Fe Corp., Smurfit, Cinergy, Comcast Corporation, Gjensidige NOR, MasterCard International, MetLife, Parsons Brinckerhoff, Perot Systems and Wachovia. 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 THIS ANNOUNCEMENT MAY NOT OCCUR. 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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