CrossCommerce and Electron Economy Join Forces.
SAN FRANCISCO--(BUSINESS WIRE)--July 24, 2000
Industry's First E-Merchandising Service Provider to
Partner with Premier Commerce Operations Management Provider
for Comprehensive eLogistics Solutions
CrossCommerce, the industry's first E-Merchandising Service Provider, today announced a technical and marketing partnership with Electron Economy, the company pioneering a commerce-enabling technology platform. The two companies are integrating Electron Economy's InternetTONE(TM) with the CrossCommerce E-Merchandising Platform(TM), creating the industry standard for an end-to-end commerce solution delivered to content-centric Web sites through a single provider relationship.
"Consistent with its philosophy of bringing significant new value to the market while not reinventing the wheel, CrossCommerce's choice of Electron Economy to fulfill critical back-end functionality is a win for both companies," said Carol Baroudi, Director of Electronic Business Strategies for Hurwitz Group. "Companies that couple real innovation with best-of-breed solutions push the industry to new heights. Electron Economy will enjoy the fruits of new market opportunities opened by CrossCommerce and both companies can capitalize on the momentum they create together."
The CrossCommerce E-Merchandising Platform completely automates the core e-commerce business practices of product sourcing, merchandising, transaction processing, order fulfillment, and customer service. By integrating InternetTONE with its E-Merchandising Platform, CrossCommerce will be able to offer customers a broader range of complex order management, delivery and return management capabilities, and additional payment options. InternetTONE's ability to integrate business logic for managing order fulfillment and shipping policies specific to each individual supplier will also allow CrossCommerce to easily establish new product supplier relationships, in order to continue expanding what is already the industry's largest Virtual Product Warehouse(TM). The integration of these services will be complete by the fourth quarter of 2000.
"Today's partnership with Electron Economy provides us with a huge competitive advantage," said Peter Nordberg, CEO and Co-Founder of CrossCommerce. "Having the preeminent commerce operations management provider in the industry extend our back-end order processing and fulfillment services provides us with two major benefits. First, we provide our customers with comprehensive back-end eLogistics solutions critical to their success as providers of online commerce. And second, we free up strategic resources to concentrate on our core competency as developers of Merchandising Intelligence(TM) services."
InternetTONE is a commerce-enabling platform that seamlessly integrates disparate value chain business processes to increase visibility and process intelligence, reduce inventory levels, and improve coordination among buyers and sellers. An open platform based on XML and Java, InternetTONE provides real-time optimization throughout the global value chain through intelligent commerce agents that resolve complex logistics problems before they impact customers.
"As e-commerce strategies continue to proliferate in the new economy, companies require sophisticated back-end eLogistics solutions that reduce order processing costs, improve operational cycle times and, ultimately, drive profitable growth," said Jon Slangerup, Chairman and CEO of Electron Economy. "We're pleased to enter into this unique partnership with CrossCommerce because they've developed a breakthrough e-merchandising service that enables Web content sites to add relevant commerce virtually overnight. Combining their innovative E-Merchandising Platform with InternetTONE creates the industry's foremost infrastructure for enabling efficient commerce."
Formed in 1999 as the industry's first E-Merchandising Service Provider, CrossCommerce is transforming content-centric sites into next-generation providers of online commerce. The company enables these sites to quickly monetize their traffic and maintain direct ownership of the customer relationship without disrupting their primary focus of creating compelling content and services.
CrossCommerce automates core e-commerce business practices, which until now have required expertise in merchandising, product sourcing, transaction processing, fulfillment, and customer service. The company also provides comprehensive Merchandising Intelligence(TM) that is a prerequisite to successful selling online. As a result, content, community, entertainment, and affinity sites can now offer targeted commerce to their customers without complex, expensive, and lengthy system integration and product sourcing.
The company's co-founders -- Peter Nordberg, Raj Sarasa, and Jim Oliver -- are industry veterans with backgrounds at leading companies that include WebLogic, Apple Computer, and Hewlett-Packard.
Privately held, with blue-chip investors that include The Sprout Group, Nexus Group, and Osprey Ventures, CrossCommerce is headquartered in San Francisco. For more information, visit the company's Web site at www.crosscommerce.com or call 415/315-1000.
About Electron Economy
Electron Economy has combined advanced Internet technology and world-class supply chain expertise to pioneer the intelligent commerce-enabling technology platform called InternetTONE. InternetTONE provides real-time optimization throughout the global value chain. More than a mere messaging platform, InternetTONE intelligently integrates disparate business processes into one commerce flow -- managing the funds, goods, and information among enterprises, exchanges, and networks.
In addition to lowering cost and improving cycle time, this open platform thinks and acts on its own by efficiently resolving value chain complexities before they impact customers. For more information, visit the company's Web site at www.electroneconomy.com. Founded in April 1999, Electron Economy, Inc. is privately held and is based in Cupertino, Calif.