CrossCommerce and Electron Economy Join Forces.Business Editors/High-Tech WritersSAN FRANCISCO--(BUSINESS WIRE)--July 24, 2000 Industry's First E-Merchandising Service Provider to Partner with Premier Commerce Operations Management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. 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 Reinventing the wheel is a phrase that means a generally accepted technique or solution is ignored in favor of a locally invented solution. To "reinvent the wheel" is to duplicate a basic method that has long since been accepted and even taken for granted. , 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 Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the momentum they create together." The CrossCommerce E-Merchandising Platform completely automates the core e-commerce business practices of product sourcing, merchandising, transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , order fulfillment Order fulfillment (in BE also: order fulfilment) is in the most general sense the complete process from point of sales inquiry to delivery of a product to the customer. Sometimes 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 (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. and Co-Founder of CrossCommerce. "Having the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae 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 A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
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 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. 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 pro·lif·er·ate v. To grow or multiply by rapidly producing new tissue, parts, cells, or offspring. 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." About CrossCommerce 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 Monetize 1. To convert into money. 2. To convert from securities into currency that can be used to purchase goods and services. Notes: For example, you'll often hear Internet marketers talk about "monetizing website visitors. 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 pre·req·ui·site adj. Required or necessary as a prior condition: Competence is prerequisite to promotion. n. 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 raj also Raj n. Dominion or rule, especially the British rule over India (1757-1947). [Hindi r 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 osprey (ŏs`prē), common name for a bird of prey related to the hawk and the New World vulture and found near water in most parts of the world. Ventures, CrossCommerce is headquartered in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . 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. |
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