Commonwealth of Pennsylvania Selects ePlus As Prime Contractor for Computer Peripheral and Networking Products.HERNDON, Va. -- Two-Year Contract Will Streamline State's Purchasing of Networking and Peripheral Products ePlus inc. (Nasdaq NM:PLUS) announced today that the Commonwealth of Pennsylvania has selected ePlus Technology, Inc., the company's IT sourcing subsidiary, as the prime contractor for supplying computer peripheral and networking products to public entities across the state. The contract has a two-year base term and may be renewed for two additional one-year periods. In a press release dated August 18, 2004, the Commonwealth's Department of General Services announced the award could generate up to $23.5 million in annual spend from State Agencies. The contract covers all peripheral and networking hardware Networking hardware typically refers to equipment facilitating the use of a computer network. Typically, this includes routers, switches, access points, network interface cards and other related hardware. , such as printers and network switches, and replaces a multiple award contract where networking and peripherals products were purchased from over 200 manufacturers and resellers. The ePlus will also become the primary vehicle for the Commonwealth to purchase audio-visual equipment with the expiration of the current AV contract in September 2004. There are no guaranteed minimums and the contract is subject to cancellation and other terms and conditions. State officials have estimated that consolidating all peripheral and networking purchases for all agencies with will save taxpayer funds by volume pricing and other efficiencies, advancing a strategic sourcing initiative launched by Pennsylvania Governor Edward Rendell to reduce the cost of state government. Authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: personnel will be able to source products from hundreds of manufacturers through ePlus. Under the contract, ePlus will also offer electronic procurement, leasing and professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. , including installation and integration. Every government entity in the State is on a constant quest to cut costs, and utilizing one primary contractor for this category of commodities will help achieve that goal by streamlining the procurement process as well as leveraging 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. across all public agencies and institutions. Similar to current strategies in the private sector, Department of General Services Secretary Donald Cunningham said, "This contract award continues the reduction of costs for the taxpayers of Pennsylvania in the purchasing of 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. to supply Commonwealth workers." "This contract will substantially increase our public-sector hardware sales in Pennsylvania, give us the opportunity to generate significant services and leasing revenue from government entities in the state, and serve as a strong reference for other states that may undertake similar strategic sourcing initiatives," said Darren Raiguel, ePlus Technology Vice President. "At the same time, it enables us to use our expertise in provisioning electronic catalogs to help the state automate and streamline business processes for maximum savings." ePlus will participate with four Pennsylvania-based small, disadvantaged businesses in Eastern, Central, and Western portions of the State to help fulfill both the product and services portions of the contract. The State's press release can be viewed at: www.dgs.state.pa.us/dgs/lib/dgs/news/08_18_04_it_peripherals.pdf. About ePlus inc. A leading provider of Enterprise Cost Management, ePlus provides a comprehensive solution to reduce the costs of purchasing, owning, and financing goods and services. ePlus Enterprise Cost Management (eECM) packages business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in , eProcurement, asset management, product and catalog content management, 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 , strategic sourcing, 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. and document access and collaboration into a single integrated solution, all based on ePlus' leading business application software. The company is headquartered in Herndon, VA, and has more than 30 locations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada. For more information, visit www.eplus.com, call 888-482-1122, or email info@eplus.com. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this press release, which are not historical facts, may be deemed to be "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. ". Actual and anticipated future results may vary due to certain risks and uncertainties, including, without limitation, the existence of demand for, and acceptance of, our services; our ability to adapt our services to meet changes in market developments; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to hire and retain sufficient personnel; our ability to protect our intellectual property; the creditworthiness Creditworthiness The condition in which the risk of default on a debt obligation by that entity is deemed low. Creditworthiness Eligibility of an individual or firm to borrow money. of our customers; our ability to raise capital and obtain non-recourse financing for our transactions; our ability to realize our investment in leased equipment; our ability to reserve adequately for credit losses; fluctuations in our operating results; our reliance on our management team; and other risks or uncertainties detailed in our Securities and Exchange Commission filings. |
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