State of Mississippi Awards e-Procurement Contract to Tier Technologies; Tier to Automate Office of Purchasing and Travel Procurement Process.RESTON, Va. -- Tier Technologies, Inc. (Nasdaq: TIER), a leading provider of 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. and packaged software See software package. and systems integration solutions for public sector clients, today announced that it has been awarded an e-procurement system contract by the State of Mississippi Department of Information Technology Services on behalf of the Department of Finance and Administration (DFA DFA - Deterministic Finite-state Automaton. See Finite State Machine. ). This award is designed as a phased implementation of a General Purchasing System with e-procurement capabilities including integration with the Mississippi Statewide Automated Accounting System (SAAS (Software-As-A-Service) Software that is rented rather than purchased. Instead of buying software and paying for periodic upgrades, SaaS is subscription based, and all upgrades are provided during the term of the subscription. ). WebProcure, Tier's e-procurement solution, will fully automate the procurement process of DFA's Office of Purchasing and Travel, including the electronic creation, publication, tabulation tab·u·late tr.v. tab·u·lat·ed, tab·u·lat·ing, tab·u·lates 1. To arrange in tabular form; condense and list. 2. To cut or form with a plane surface. adj. Having a plane surface. , and maintenance of bids and contracts and the presentation of state term contracts in electronic catalogs. Phase I configuration services include a rapid, four-month implementation of an online vendor registration and solicitation management procurement facility. Optional Phase II services involve providing a highly secure, sophisticated technology infrastructure that will enable Mississippi state and local government agencies and institutions of higher learning higher learning n. Education or academic accomplishment at the college or university level. to electronically conduct business with state contract vendors. Additionally, Phase II includes ongoing subscription-based ASP services. These services will support procurement functions of individual agencies as well as the requirements of the State's centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. procurement functions. The initial contract value for Phase I is approximately $500,000. The total potential contract value if all phases are implemented is approximately $2.7 million over the five-year hosting term. Additionally, the contract includes provisions for two optional one-year extensions. "WebProcure will provide the vendor community broader access to the State's solicitations as well as provide the vehicle for streamlining the State's procurement and purchasing practices throughout State government," said Cille Litchfield, DFA's Chief Systems Information Officer. "The days of the "paper chase" in procurement and purchasing should be over and we believe that WebProcure is one of the tools that will bring that to a close in Mississippi. We are excited about the State's partnership with Tier and the expertise in this area that Tier brings to the table." Designed specifically for government use, Tier's e-procurement solution is uniquely suited to meet the diverse procurement needs of government purchasing professionals ranging from small municipalities to large states. "We are very pleased to provide our e-procurement solution to the State of Mississippi," said James R. Weaver, Tier's Chairman and Chief Executive Officer. "Tier's expertise is in partnering with governments and delivering technology solutions that solve the real-world needs of public sector entities. We have a track record of integrating leading-edge technology in dynamic government environments, including some of the largest and most complex government procurement Government procurement, also called public tendering, is the procurement of goods and services on behalf of a public authority, such as a government agency. With 10 to 15% of GDP in developed countries, and up to 20% in developing countries, government procurement accounts systems in the world. We plan to leverage our expertise and successful track record in implementing an e-procurement solution in Mississippi that will provide easy acquisition of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , while meeting the stringent requirements of public sector accountability." Tier offers a full range of integrated financial management solutions, including mainframe, client/server and web based Coming from a Web server. See Web application. solutions that meet the complex financial management challenges of its public sector clients. About Tier Tier is a leading provider of transaction processing and packaged software and systems integration services for public sector clients. We combine our understanding of enterprise-wide systems with domain knowledge enabling our clients to rapidly channel emerging technologies into their operations. We focus on sectors that we believe are driven by forces that make demand for our services less discretionary and are likely to provide us with recurring long-term revenue streams. Tier is included in the Russell 3000(R) Index. More information about the Company is available at www.Tier.com. Statements made in this press release that are not historical facts are forward-looking statements that are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Each of these statements is made as of the date hereof based only on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results may differ materially from those projected in any of such statements due to various factors, including but not limited to the potential loss of funding by clients, including due to government budget shortfalls or revisions to mandated statutes; the timing, initiation, completion, renewal, extension or early termination of client projects; the Company's ability to realize revenues from its business development opportunities; and unanticipated claims as a result of project performance, including due to the failure of software providers or subcontractors to satisfactorily complete engagements. For a discussion of these and other factors which may cause our actual events or results to differ from those projected, please refer to the Company's 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. for the year ended Sept. 30, 2004, our most recent Form 10-Q Form 10-Q See 10-Q. , as well as other filings with the SEC. |
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