Commerce One and QAD to Form Alliance to Deliver E-procurement.Business Editors & High-Tech Writers EXPLORE 2000, QAD QAD Quality Assurance Division QAD Quality Assurance Department QAD Quick And Dirty QAD Quality Audit Division QAD Quick Attach/Detach QAD Question Answer Detail (language arts education) QAD Quality Application Development User Conference NASHVILLE, Tenn.--(BUSINESS WIRE)--May 16, 2000 Commerce One and QAD Help Midmarket Midmarket Price around which a market maker derives bid and asked prices. and Multinational Manufacturers Reduce Indirect Procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. Costs and Streamline E-business Sales and Fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. 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) ) and QAD (Nasdaq:QADI) today announced their intention to form an alliance to deliver access and integration to mid-market and multinational manufacturers in QAD's target vertical markets through the Commerce One BuySite(TM) e-procurement application and Commerce One MarketSite(TM) Global Trading Portal. Commerce One and QAD expect to finalize fi·nal·ize tr.v. fi·nal·ized, fi·nal·iz·ing, fi·nal·iz·es To put into final form; complete or conclude: "They have jointly agreed ... the terms of this alliance and execute definitive agreements by the end of May 2000. Jean Roy, IT Manager for Schlumberger Resource Management Services (RMS (1) (Record Management Services) A file management system used in VAXs. (2) (Root Mean Square) A method used to measure electrical output in volts and watts. 1. RMS - Record Management Services. 2. ), a business unit of Schlumberger Limited, said: "The alliance of QAD and Commerce One offers Schlumberger important business benefits. We are pleased with our e-business applications from both companies and look forward to greater efficiencies as QAD and Commerce One work closely together." As a result, it is expected that QAD customers can lower their indirect procurement costs by leveraging BuySite's e-procurement capabilities and streamline e-business sales channels by automating the acceptance of sales orders The sales order, sometimes abbreviated as SO, is an order received by a business from a customer. A sales order may be for products and/or services. Given the wide variety of businesses, this means that the orders can be fulfilled in several ways. from MarketSite Global Trading Portal. The alliance is expected to generate a new and recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. revenue stream for both companies. "The QAD MFG/PRO(R) enterprise solution is widely implemented in its targeted markets, and the new QAD eQ(TM) solution is gaining rapid acceptance among companies making the transition to e-business," said Chuck Donchess, executive vice president and chief strategy officer for Commerce One. "Through the QAD and Commerce One alliance, we believe that companies will have an excellent opportunity to implement an e-business solution that delivers a high return-on-investment." Companies that implement e-business applications typically focus first on indirect procurement, which can offer savings through the negotiation of purchasing contracts at higher volume. Analysts estimate this can represent a savings of 5 to 10% in material cost, while some companies may expect as much as a 20% savings. Analysts also estimate that e-procurement solutions can reduce purchase order costs by approximately 80%. "By gaining entry to Commerce One's extensive network of suppliers, QAD customers will be well positioned to take advantage of trading communities," said Pam Lopker, president of QAD. "We foresee fore·see tr.v. fore·saw , fore·seen , fore·see·ing, fore·sees To see or know beforehand: foresaw the rapid increase in unemployment. that companies who select QAD eQ 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 applications will also be adding the capability to receive orders from Commerce One MarketSite and will be able to intelligently distribute those orders to multiple plants and distribution centers." "Until now, most e-procurement vendors have focused on selling to the headquarters of Fortune 100 companies," Donchess added. "With this alliance, we foresee that the benefits of e-procurement will become available to plants and distribution centers running their own ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. systems." The Commerce One Solution, consisting of Commerce One BuySite Portal Edition with access to Commerce One MarketSite, allows companies to buy and sell 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. . Under the terms of the alliance, BuySite will be available to QAD customers to make purchases over the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , automating the entire purchasing cycle, from requisition A written demand; a formal request or requirement. The formal demand by one government upon another, or by the governor of one state upon the governor of another state, of the surrender of a fugitive from justice. The taking or seizure of property by government. to payment. Commerce One MarketSite is the U.S. portal for exchanging goods and services among businesses worldwide, which provides business services including hosted trading applications, and trade zones for marketing and business development capabilities. Built with the Commerce One MarketSite Portal Solution 3.0, Commerce One MarketSite is an established e-commerce portal that offers a complete suite of integrated trading services for buyers, suppliers and Internet market makers. Both applications are scheduled to be fully integrated with QAD MFG/PRO and QAD eQ products this year. The QAD eQ B2B solution enables companies to make the transformation to e-business through a suite of sell-side and buy-side applications with replenishment replenishment the addition of an appropriate quantity of properly prepared solution containing the correct concentration of chemicals to the developer solutions used in radiography. and exchange capability. Through its advanced B2B relationship management capabilities, QAD eQ executes transactions based on the agreements and preferences of trading partners making up the internal and extended supply chain. This allows companies to leave daily decisions to business policies defined in QAD eQ software. About Commerce One Commerce One (Nasdaq:CMRC) is the leader in global e-commerce solutions for business. Through its products, portals and services, Commerce One creates access to worldwide markets, allowing anyone to buy from anyone, anytime, anywhere. The Commerce One Global Trading Web(TM) is the world's largest business-to-business trading community. Composed of many open e-marketplaces, the Global Trading Web provides unprecedented economies of scale for buying organizations, suppliers and service providers worldwide. Commerce One is located in Pleasanton, Calif., and can be reached by phone at 800/308-3838 or 925/520-6000 or via the Internet at www.commerceone.com. About QAD Founded in 1979, QAD is a leading provider of industry-specific e-business software and services to multinational manufacturers and distributors of all sizes, with special focus on the midmarket. Available in 26 languages and able to support multiple currencies, QAD software helps speed business processes for more than 300,000 licensed users at more than 4,000 licensed sites in more than 80 countries. QAD software is specifically designed for global manufacturers in the following targeted industries: automotive, consumer products, electronics, food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. , industrial, and medical products. For more information about QAD, telephone 805/684-6614, or visit the QAD web site at http://www.qad.com. To receive any of QAD's press releases via facsimile, contact 800/356-0747, or outside the U.S. contact 213/253-5647. Note to Editors: QAD is a trademark and MFG/PRO(R) is a registered trademark of QAD Inc. Commerce One, Many Markets. One Source., Global Trading Web, BuySite, MarketSite, Global Trading Platform, Common Business Library, XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. Development Kit, XML Commerce Connector, MarketView, and SupplyOrder are either trademarks or registered trademarks of Commerce One, Inc. All other products or company names herein may be trademarks of their respective owners. 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. Certain statements made in this press release by the executive vice president of Commerce One and by third parties, including analysts and representatives of QAD, are not historical facts but are "forward-looking statements" and may involve risks and uncertainties which could cause actual future results, including the expected alliance and benefits of the alliance, such as lowered procurement costs, the development of new and recurring revenue streams, and the estimated savings due to e-procurement and through the result of this alliance, to differ materially and adversely from those anticipated by such statements. Included among the factors that could affect Commerce One's performance, and the anticipated results of this press release, are: the possibility that Commerce One and QAD will not be able to agree on final terms and execute definitive agreements related to the alliance; the ability of Commerce One and QAD to develop and integrate QAD's MFG/PRO and eQ solutions into the Commerce One MarketSite and Global Trading Web to generate the results anticipated by the parties; general economic conditions; fluctuations in operating results; its ability to effectively manage future growth, to retain and efficiently integrate our executive management team, and to identify, hire, train and retain, in a highly competitive market, individuals highly skilled in the Internet and its rapidly changing technology; significant revenue concentration in a limited number of clients; the lack of long-term contracts; its ability to enter into, and retain its existing, strategic relationships; market acceptance, rapid technological change, a decline in Internet usage, and intense competition in its market; its ability to effectively integrate the operational, managerial and financial aspects of future acquisitions; and its ability to obtain financing when required. For a discussion of these and other risk factors that could affect Commerce One's business, see "Risk Factors" in Commerce One's filings with the Securities and Exchange Commission, including its annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1999. |
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