Elcom Systems Announces Availability of Enhanced Intranet Automated Procurement System.NEW YORK--(BUSINESS WIRE)--April 28, 1998--Internet and Electronic Commerce Exposition-- PECOS.pm creates substantial expense savings through Procurement Automation Elcom Systems, Inc., a leading developer of electronic commerce solutions, today announced the availability of version 2.0 of PECOS Procurement Manager (PECOS.pm), its Intranet-based automated procurement software Procurement software is business software that helps to automate the purchasing function of organizations. Activities including raising and approving purchase orders, selecting and ordering the product or service, receiving and matching the invoice and order, and paying the bill is system. PECOS.pm is a comprehensive, low cost, technology solution which allows companies to achieve dramatic bottom-line savings and substantial efficiency improvements in their procurement processes including: reengineering workflows, eliminating paper purchase orders, lessening procurement cycle times, and reducing product acquisition costs. PECOS.pm empowers desktop users with the self-service ability to place orders from their PC and track the status of their orders through receipt and financial settlement without calling their purchasing department Noun 1. purchasing department - the division of a business that is responsible for purchases business department - a division of a business firm or other manual intervention, saving substantial time and expense while improving internal customer usage and satisfaction. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. numerous research studies, businesses spend billions of dollars every year on mundane purchases of maintenance, repair and operating supplies. Administrative processing and procurement costs sometimes average $120 to $150 for each purchase order or item purchased. PECOS.pm can reduce these costs dramatically to the $10 to $20 per order range. PECOS.pm replaces the conventional paper-based product acquisition process with an automated system that allows desktop ordering from multi-supplier electronic catalogs, simple access through an Internet browser See Web browser. interface, customer-defined approval and receiving workflows, and back-end settlement processing (two or three matching) of electronic invoices. Automatic email notification advises users of order approval requests, backorders and receiving acknowledgment requests. Archiving and reporting features also allow an organization to review purchase histories and trends, monitor supplier performance, and perform benchmarking reviews. Version 2.0 of PECOS.pm incorporates several important new and enhanced features. The navigation features of the browser-based user interface have been improved. Capabilities such as catalog access controls, multiple line item account splitting, on-screen on·screen or on-screen adj. & adv. 1. As shown on a movie, television, or display screen. 2. Within public view; in public. savings calculations and enhancements to the administrative system have been added, allowing PECOS.pm to accommodate the process flexibility that customers are demanding in their enterprise procurement applications. "In this new release of Procurement Manager, we have focused on improving the system's quality and ease of use. We recognize that it is important for PECOS.pm to be flexible enough to incorporate existing organizational operating controls along with proven procurement best practice methodologies to enable our customers to successfully implement business process improvements," said Peter F. McAree, President of Elcom Systems. Boston Edison uses PECOS.pm to lower internal costs Boston Edison, a Boston-based energy services company, has been using PECOS.pm since October 1996 to automate its $400 million in purchasing volume. "PECOS.pm has enabled us to reduce our product acquisition costs significantly and implement just-in-time supply management," said Thomas Murray This article refers to the Scottish curler. For other people named, Thomas Murray, see Thomas Murray (disambiguation). Tom Murray was a Scottish curler. He was part of the Royal Caledonian Curling Club team which won the first Olympic gold medal in curling at the inaugural , Director of Supply Management at Boston Edison. "Our employees rapidly learned the browser-based system with virtually no training, and the improved reporting features in Version 2.0 will give us valuable insight into our corporate-wide purchasing patterns." "PECOS.pm provides a powerful tool for transformation of tactical purchasing to strategic supply management in progressive enterprises that are committed to high levels of internal efficiencies and cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. through process reengineering," noted Gregory D. King, Elcom Systems' Vice President of Marketing. "Using universal clients and dynamic HTML (1) A general term for (HTML pages) Web pages that are customized for each user; for example, returning different values from a search. Contrast with a "static HTML" page, which is the same for all users. See dynamic Web page. enables very cost effective enterprise deployment of PECOS.pm on a wide range of desktop machines running Windows 3.1, NT or 95, Unix, and Macintosh O/S. Customers investing in PECOS.pm do not have to upgrade workstations to 32-bit operating systems Operating systems can be categorized by technology, ownership, licensing, working state, usage, and by many other characteristics. In practice, many of these groupings may overlap. ." Pricing for PECOS.pm is based on a concurrent user In computer science, the number of concurrent users for a resource in a location, with the location being a computing network or a single computer, refers to the total number of people using the resource at the same time. model and begins at approximately $70,000 for 16 concurrent users. "Pricing has been designed to enable licensees to take full advantage of the distributed processing The first term used to describe the distribution of multiple computers throughout an organization in contrast to a centralized system. It started with the first minicomputers. Today, distributed processing is called "distributed computing." See also client/server. and inherent scalability of the product by not requiring a license for each server that is used to deploy the system," said John Sheldon, Elcom Systems' Director of Product Strategy. "This approach allows our customers to configure the horsepower that they need to guarantee exceptional system response time and reliable, failure resistant operation." About Elcom Systems, Inc. Elcom Systems, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Elcom International, Inc. (Nasdaq:ELCO ELCO Eastern Lebanon County (school district, Pennsylvania) ELCO El Camino ELCO Electrolytic Capacitor ELCO Early Opening Local Census Office ELCO Electronic Company ), was formed in 1992 to develop and commercialize interactive electronic commerce software systems that offer buyers and sellers electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. capabilities which maximize efficiencies and reduce operational expenses. Elcom Systems provides electronic commerce solutions to clients in such diverse industries as PC products distribution, utilities, oil drilling equipment supply, and food products distribution. More information about Elcom Systems is available at www.elcom.com. PECOS and PECOS.pm are trademarks or registered trademarks of Elcom Systems, Inc. All other trademarks or registered trademarks are the property of their respective owners. -0- 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 Except for the historical information contained in this release, the matters described herein contain 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. that involve risks and uncertainties which might cause the results of such forward-looking statements to differ materially from those anticipated. Such risks and uncertainties include: the industry's acceptance and usage of electronic commerce software systems, the impact of competitive technology products and pricing, control of expenses, levels of gross profits, revenue growth, overall business conditions, availability of appropriate financing, risks associated with acquisitions of companies, the consequent results of operations given the aforementioned factors, and other risks detailed in Elcom International, Inc.'s 1997 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. and from time to time in Elcom International, Inc.'s other SEC reports, including the prospectus included as part of the S-1 Registration Statement declared effective on December 19, 1995 under the Securities Act of 1933. CONTACT: Elcom Systems Tom Barth, 781/501-4094 tbarth@elcom.com www.elcom.com (homepage) or Creamer Dickson Basford Michelle Mattaboni, 781/467-1535 michelle.mattaboni@cdbpr.com |
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