Clarus and eCredible Launch Financial Services Partnership.Business Editors ATLANTA--(BUSINESS WIRE)--Dec. 5, 2000 Alliance Addresses Global Credit Management & Payment Guarantee for 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 Marketplaces Clarus(TM)(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) e-commerce solution provider, has formed a partnership with eCredible, a leading B2B financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company that provides access to risk coverage in a secure trading environment and the subsidiary of an international credit insurer NCM NCM National Corvette Museum (Bowling Green, Kentucky) NCM Nordic Council of Ministers NCM New California Media NCM Nomenclatura Común del Mercosur NCM Non-Commissioned Member (Canadian Military) .The partnership will facilitate online business transactions by offering buyer authentication, credit risk management and payment guarantee solutions for B2B platforms. The combination of Clarus(TM) Settlement and eCredible's risk management services provide B2B marketplaces with an integrated and comprehensive solution that provides sellers with the assurance that their invoices will be paid on a timely basis. This capability is particularly important in the emerging B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. arena where sellers may not have existing relationships with the buyers. The partnership of Clarus and eCredible will save buyers, suppliers and net market makers valuable time by eliminating the need to generate and wait for manually processed traditional letters of credit or other forms of payment guarantee. Moreover, it will significantly reduce the 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). typically associated with traditional transaction fees. eCredible launched its initial product offer, the Credit Certificate, on July 1, 2000 to offer a digitally encrypted certificate that provides a payment guarantee for online B2B transactions by uniquely identifying the buyer and assigning a spending limit. The Credit Certificate offers a number of advantages over traditional letters of credit and escrow accounts including online verification and real-time approval of transactions large and small, elimination of time-consuming paperwork, and modest transaction costs. "Within the realm of B2B marketplace solutions, Clarus is delivering a unique offering by ensuring the collection of a seller's accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying through the integrated solution. We can offer a solution that provides the safety net of the eCredible Payment Guarantee, supported by a leading credit insurance firm coupled with the Clarus global payment settlement solution," said Steve Jeffery, 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. and president of Clarus. "This is a giant step in empowering net market makers, as it provides a very cost effective solution to old economy credit instruments such as letters of credit." Clarus provides a comprehensive suite of B2B e-commerce trading services, through its Clarus(TM) Settlement and the ClarusNet(TM) trading service portals. Using Clarus(TM) Settlement, integrated with eCredible, participants can settle and reconcile payments using any financial institution and service provider around the world, in any currency, and in any language. Clarus' open, interoperable e-commerce solutions are available for use with any B2B platform including those offered by Ariba (NASDAQ: ARBA) and Commerce One (NASDAQ: CMRC CMRC Canadian Motosport Racing Club CMRC Commerce One Inc. (stock symbol) CMRC Caribbean Marine Research Center CMRC Crime Mapping Research Center CMRC Credit Management Research Centre (UK) ). Clarus solutions are designed to allow interoperability between any portal, consortium or supplier B2B e-commerce site. "With this alliance, the credit risk associated with online sales are effectively eliminated from the net market makers' equation," commented Robert Wilson Robert Wilson may refer to:
The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. for sellers and buyers virtually anywhere in the world." About Clarus Atlanta-based Clarus Corporation (www.claruscorp.com; NASDAQ: CLRS), a leader in business-to-business (B2B) e-commerce, provides B2B procurement software Procurement software is business software that helps to automate the purchasing function of organizations. Activities including raising and approving purchase orders, selecting and ordering the product or service, receiving and matching the invoice and order, and paying the bill is and trading services that exploit the global marketplace of the Internet to manage corporate purchasing and enable digital marketplaces. ClarusNet(TM), a fully managed service portal, provides a comprehensive range of critical trading services such as payment settlement, supplier enablement Supplier Enablement is the process of electronically connecting suppliers (or other trading partners) to a company's supply chain. Supplier enablement is achieved when suppliers of goods and services are connected to a company's back-office systems to exchange critical business , auctions, integration, and analytics. Designed to provide unprecedented interoperability, ClarusNet enhances the value and speeds delivery of any B2B trading platform including Clarus(TM) eProcurement and Clarus eMarket(TM). Clarus eMarket was recently honored by Microsoft as the Worldwide E-commerce Solution of the Year. Clarus solutions are being deployed at customer sites including 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. Corp., Cinergy, Comcast Corporation, HispanB2B, AvidXchange, Gjensidige NOR, MasterCard International, MetLife, Parsons Brinckerhoff, Perot Systems and Wachovia. About eCredible eCredible (www.ecredible.com) is a subsidiary of the NCM Group, the international credit insurer. NCM is majority-owned by Swiss Re, one of the world's leading re-insurers. eCredible facilitates and monitors online B-to-B transactions between buyers and sellers by providing an integrated credit risk solution. eCredible was started with the support of several strong partners, including NCM, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) and McKinsey & Company. eCredible has also partnered with other companies like VeriSign and webMethods. eCredible is headquartered in Amsterdam, the Netherlands with U.S. offices in Denver, CO and Baltimore, MD. The NCM Group, a privately owned company with headquarters in Amsterdam, annually insures more than Euro 125 billion of business worldwide against the risk of non-payment. It has invested heavily in customer service and technological innovation and has operations in Belgium, Denmark, France, Germany, Ireland, Italy, Japan, Malaysia, The Netherlands, Norway, Spain, Sweden, USA and UK. 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. Note to editors: Clarus recently acquired Redeo Technologies, Inc., a financial services software firm, with products including software for payment settlement, reconciliation and netting. |
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