Conac Software Enters Into U.S. Marketing Arrangement.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 17, 2001 Conac Software Corporation (CDNX CDNX See Canadian Venture Exchange (CDNX). : COT.V) (COT) is pleased to announce a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ) for a joint marketing initiative with B2Bhighway (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 ). This agreement extends to Conac's Pivot and Axis accounting products and B2B Highway's ePrelim notification tool. The ramifications ramifications npl → Auswirkungen pl of this agreement extend the marketing presence of each company in the construction industry. B2B Highway produces a software tool called ePrelim. This software enables a construction company to track lien notification documents and related payments on a construction project. The uniqueness of this solution is that this tracking occurs over the Internet. For many projects, the paperwork required for lien tracking is substantial and the penalties for non-compliance are significant. Therefore, an Internet centered tracking system enables construction companies, far greater control. For more information on B2B Highways Inc., please visit the website: www.B2BHighway.com. Conac's Pivot and Axis software will take this web-centric application and seemlessly integrate it into its job cost accounting software. In particular, a user may, from an invoice or check payment run, make sure that all lien notification requirements are accurately tracked and communicated with a click of a button. This information is instantly communicated to the web-based ePrelim so that the contractor, customer and vendor may all have access to this critical information. Through this agreement, B2B Highways Inc. and Conac will have the rights to market the Conac products, as well as the e-Prelim application on a revenue sharing revenue sharing Funding arrangement in which one government unit grants a portion of its tax income to another government unit. For example, provinces or states may share revenue with local governments, or national governments may share revenue with provinces or states. basis, together with a joint effort in developing the link between the two products. Jacqueline Michael, President of Conac states: "I am extremely excited about the marketing prospects of this Joint Venture Agreement. This is another facet of Conac's commitment to end-to-end solutions (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. . Our systems are designed to give the user maximum information with minimal effort. Thus, integration with B2B Highway's ePrelim tool is an exciting natural fit, which will give the Conac products a definite competitive edge in the US marketplace." "This agreement allows us to realize the enhancements B2B can bring to both our products and marketability, without suffering the dilution of Conac by completing an acquisition at this time. We will continue to monitor acquisition opportunities, including B2B Highway, and look to follow through on the opportunities as market conditions improve." Conac Software Corporation is the leading edge specialist in software financial management systems for the construction and engineering industries. Since 1984, Conac's innovative easy-to-use products have grown in market acceptance among general contractors A general contractor is an organization or individual that contracts with another organization or individual (the owner) for the construction of a building, road or any other execution of work or facility. , house builders, sub trades, designers and engineers, to become the standard for the construction industry. It's integrated software Separate software components or applications that have been combined into one package. See integrated software package. products control every facet of the construction management process. To learn more about Conac Software Corporation, visit our website at: www.conac-ir.com |
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