Rona Selects I-many for Enterprise Contract Management.Business Editors/High-Tech Writers EDISON, N.J.--(BUSINESS WIRE)--Jan. 21, 2004 Canada's Leading Distributor and Retailer of Hardware, Home Improvement and Gardening Products to Automate To turn a set of manual steps into an operation that goes by itself. See automation. and Validate Millions of Dollars in Rebate rebate, partial refund of the total price paid for goods or services. In the United States, rebates were historically given by railroads to favored shippers as a return on transportation charges. Payments Each Year with I-many CARS/RM(TM) I-many, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :IMNY IMNY Internet Marketers of New York ), the leader in enterprise contract management solutions, announced today that RONA RONA Return On Net Assets RONA Rest of North America (multinational businesses with specific US/Canada markets/divisions) RONA Roll Over No Answer (telecom) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :RON), Canada's leading distributor and retailer of hardware, home improvement and gardening products, has selected I-many CARS/RM after an extensive review of software vendors. RONA will use I-many contract management solutions to validate the payment of millions of dollars in rebates and automate key rebate management processes that are expected to save the company millions of dollars each year. RONA's network of 535 franchised, affiliated and corporate stores generates annual retail sales of nearly $3.7 billion. This high sales volume has resulted in the submission of tens of thousands of rebates from hundreds of rebate programs that must be calculated, validated to ensure compliance with the original terms and conditions of rebate programs and related contracts, reconciled and paid. Following the company's busy holiday sales season, this process can take several months and sometimes requires pre-payment of unprocessed rebates. Using I-many CARS/RM, RONA will be able to auto-match submitted rebates against the original terms and conditions of rebate program contracts to minimize the payment of non-compliant rebates. It will also minimize many manual rebate processing activities that are time-consuming, expensive to administer and prone to error. The dynamic reporting capability of the solution will help RONA leverage direct and indirect customer data to better understand and forecast product sales. "Rebates are a huge part of RONA's business and result in significant financial exposure," said Linda Michaud, vice president, information and technology for RONA. "We looked at virtually every major software provider and I-many was the only company with a proven rebate management solution that can help validate rebates against the contracts that govern them. We believe I-many CARS/RM will help dramatically reduce our rebate management processing time in a very short period of time and provide a significant return on investment." "Every day, companies collect revenue and pay expenses that their information systems are incapable of matching against contract prices, terms and conditions," said Terry Nicholson, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of I-many. "This missing link is costing them vast sums of money on both the revenue and expense side and exposing them to unnecessary financial and legal risk. I-many enterprise contract management solutions provide the transaction compliance and financial controls to maximize contract revenues and minimize contract costs." I-many CARS/RM is part of I-many ContractSphere(TM), the leading suite of enterprise contract management solutions for organizations seeking to ensure transaction compliance and improve their ability to make, manage and maximize all types of business contracts. About I-many I-many (NASDAQ:IMNY) is the leading provider of enterprise contract management solutions. The company's solutions automate contracting processes, ensure contract compliance and track contract performance resulting in higher contract revenues and reduced operating costs operating costs npl → gastos mpl operacionales . More than 250 life science, consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and , food service and manufacturing companies use I-many solutions. For more information, visit the company at http://www.imany.com. This press release may 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. relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the future performance of I-many, Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from expectations. These risks and uncertainties include the customary uncertainty associated with large software implementation projects and other risks described in I-many's filings with the Securities and Exchange Commission. All trademarks are the property of their respective owners. |
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