Clarus eProcurement Goes Live at Wachovia After Only 21 Days.Business Editors ATLANTA--(BUSINESS WIRE)--April 25, 2000 Early success in implementing flagship B2B e-Commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. application sets the stage for ambitious digital marketplace initiative 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 ), a leading business-to-business e-Commerce solutions provider, and Wachovia Corporation (NYSE NYSE See: New York Stock Exchange :WB), one of the nation's leading 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. providers, announced today that the first phase of its Clarus(TM) eProcurement implementation has been completed in just 21 days. Users at Wachovia's headquarters in Winston-Salem, N.C., including strategic sourcing and desktop services personnel, began leveraging the benefits of the system the first week in April for the procurement of pre-negotiated 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. . The successful Clarus eProcurement implementation is one of the crucial steps in Wachovia's aggressive plans to roll out its digital marketplace powered by Clarus(TM) eMarket. Wachovia focused on two of its largest suppliers in the initial phase of the implementation. Already, the first end users at Wachovia are utilizing the Web-based procurement system to buy office supplies Office supplies is the generic term that refers to all supplies regularly used in offices by businesses and other organizations, from private citizens to governments, who works with the collection, refinement, and output of information (colloquially referred to as "paper work"). and software at pre-negotiated prices with companies including Corporate Express and CS&T. "The success of the eProcurement rollout is very encouraging in light of our continuing initiatives with Clarus," said William D. Huber, senior vice president and head of strategic sourcing for Wachovia. "Once again, Clarus has exceeded our expectations of a technology partner." Wachovia also has subscribed to ClarusContent(TM) Services through the SupplierUniverse(TM) trading network for managed content and 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 . ClarusContent, powered by TPN TPN, in biochemistry, abbreviation for triphosphopyridine nucleotide, a coenzyme now usually called nicotinamide adenine dinucleotide phosphate, or NADP. Register, provides an automated and integrated solution for controlling catalog content, rationalization and normalization In relational database management, a process that breaks down data into record groups for efficient processing. There are six stages. By the third stage (third normal form), data are identified only by the key field in their record. . Content management and supplier enablement are key factors that assisted with Wachovia's rapid deployment of Clarus eProcurement. Wachovia also will utilize Clarus(TM) eTour, a Web-based training module, to further assist in the implementation. Wachovia plans to fully deploy Clarus eProcurement enterprise-wide to its employees. "We're very pleased with the results at Wachovia," said Steve Jeffery, 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 Clarus. "This is an exciting proof statement of how Clarus has utilized leading technologies to deliver real deployment advantages with immediate benefits in such critical areas as content management, integration and training." Later this year, Wachovia corporate customers will gain similar benefits through utilizing Wachovia's digital marketplace powered by Clarus(TM) eMarket. The trading exchange will be offered by Wachovia through a Web portal See portal. as a means to inexpensively enable e-procurement - offering Wachovia customers the benefits of aggregated buying power Buying Power 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. and the capability to integrate supply chain management with payment settlement. Clarus eMarket is a digital marketplace framework that provides an organization the opportunity to leverage e-commerce solutions to provide value-added services to its customers and create new business opportunities. Clarus eMarket enables large numbers of buyers and suppliers to aggregate their buying power, within an open, online platform. Clarus eMarket is the first digital marketplace framework designed for Microsoft(R) Windows(R) 2000 and the Microsoft Commerce ServerTM 4.0, leveraging the benefits of the 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 infrastructure delivered with these new Microsoft technologies. Wachovia also will participate in the upcoming Clarus eC Leadership 2000 Conference, to be held in June and is expected to be one of the most influential e-commerce events of the year. For more information on this executive-level conference, please call 800-737-0050 or visit www.claruscorp.com. About Wachovia Wachovia Corporation, with dual headquarters in Atlanta and Winston-Salem, N.C., is a leading financial holding company serving regional, national and international markets. As of March 31, 2000, Wachovia had assets of $68.8 million. Member companies offer consumer and commercial banking, bank card, asset and wealth management, capital markets and investment banking, brokerage and insurance services. Wachovia Bank, N.A., the principal subsidiary, has more than 700 offices and 1,300 ATMs in Florida, Georgia, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. and Virginia. Wachovia's highly rated Web site is located at www.wachovia.com. About Clarus Atlanta-based Clarus Corporation (www.claruscorp.com; NASDAQ: CLRS), a leader in business-to-business (B2B) e-Commerce, provides Web-based procurement software and services that exploit the global marketplace of the Internet to manage corporate purchasing and enable digital marketplaces. Clarus is the clear alternative in B2B e-commerce supporting the open, direct Internet model based on the ClarusDirect(TM) architecture. This architecture directly connects buyers and suppliers to maximize cost savings, improve procurement efficiencies, and create new revenue opportunities for large and mid-sized companies. Clarus solutions leverage its SupplierUniverse trading network for managed content, trading services and supplier integration. Clarus solutions are being deployed at customer sites including Cinergy, Comcast Corporation, First Data 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 SECURITIES EXCHANGE ACT OF 1934. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS AS A RESULT OF CERTAIN RISKS INCLUDING THAT THE BUSINESS OR PROSPECTS EXPECTED BY THE COMPANY AS A RESULT OF THIS ANNOUNCEMENT MAY NOT OCCUR. FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE ARE ALSO SUBJECT TO OTHER RISKS AND UNCERTAINTIES, INCLUDING THOSE DISCLOSED IN OUR REGISTRATION STATEMENT ON FORM S-3 FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON 2/7/2000. Clarus and SupplierUniverse are trademarks 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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