Tier and Clear Technology Announce Teaming Agreement To Jointly Offer Innovative Business Improvement Services.Business Editors/High-Tech Writers WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif. and WESTMINSTER, Colo.--(BUSINESS WIRE)--Aug. 1, 2003 Tier Technologies, Inc. (Nasdaq: TIER) and Clear Technology, Inc. today announced a teaming agreement that will combine their resources and services in an offering intended to significantly improve business flexibility and profitability for service enterprises. The new service and software platform package is designed to improve core processes, enhance speed, consistency and quality of customer service and dramatically reduces labor and error costs for corporations that struggle with people-intensive processes. The two companies initially will focus on healthcare insurers, HMOs and related service and technology companies. Tier Technologies, based in Walnut Creek, Calif., offers professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. , including strategic, business process and technology alignment Business and technology alignment, or just technology alignment, corrects terminology and assumptions used in business to better match those of technology and standards anticipated in the technology strategy and so-called technology roadmaps. and business process re-engineering See reengineering. (business) Business Process Re-engineering - (BPR) Any radical change in the way in which an organisation performs its business activities. BPR involves a fundamental re-think of the business processes followed by a redesign of business activities to to government, healthcare, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , and utilities clients. Tier combines deep domain knowledge in the industries it serves with innovative technology-enabled approaches to business improvement to create value for its clients. Clear Technology, based in Westminster, Colo., specializes in Business Process Management (BPM) software. Its flagship product, Tranzax(R), not only reduces operating costs for service enterprises, but also for the first time creates the opportunity for minimal defect processing. Tranzax(R) has achieved strong early customer acceptance at several major corporations worldwide including Norwich Union Insurance and North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. Farm Bureau. "Coupling Tier's considerable healthcare domain knowledge and business improvement expertise with Clear Technology's cutting-edge technology should benefit our clients," said James R. Weaver, Tier President and 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. . "Putting Tier Technologies and Clear Technology to work for you can help you improve core processes and reduce costs." "Taking advantage of the Tier-Clear alliance and the Tranzax software platform will allow organizations to create market value," said John Kendall, Chairman and 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. of Clear Technology. "Our customers are seeing higher levels of process consistency, better service provisioning and a reduction in human errors - which in turn results in a lower cost burden to these organizations. Companies can achieve all this without making the financial investments or experiencing the time delays and business disruption that are inherent in replacing core business systems." About Tier Tier is a vertically-focused consulting firm that provides business and information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. , systems design and integration, transaction processing, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in and business process reengineering See reengineering. for its clients primarily in the state and local government, healthcare, insurance and utilities markets. Tier brings specific industry knowledge, proven delivery capability and proprietary applications to its client relationships. The combination of domain expertise and technical capability allow Tier to provide solutions that link increased operating efficiencies with systems and technology improvements. Tier serves Fortune 1000 companies and government entities, is included in the Russell 3000(R) Index and was ranked by Forbes Magazine as one of the "200 Best Small Companies" in America in 2002. More information about the company is available at www.tier.com. About Clear Technology Founded in 1998, Clear Technology, Inc. is a leading vendor of business process management (BPM) software. Companies in people-intensive industries need to overcome operational obstacles to meet growth, quality and profitability targets. Clear's flagship product Tranzax(R) is a BPM software platform that rapidly increases business agility and reduces operating costs. Unlike traditional BPM offerings that facilitate the work of people within a business process, Tranzax replicates the work done by people to free up human resources for more productive uses. For more information, visit http://www.clear-technology.com. This press release contains forward-looking statements, including statements regarding services to be provided under the contract award described that have been 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. This press release also contains statements regarding product design objectives and study results that should not be read as guarantees or predictions of future performance of the application described in the press release. The press release also contains an estimate of the value of the contract award described. Each of these statements is based on current information and expectations and is subject to change and, as a result, involves risks and uncertainties. Actual results and events may differ materially from those expressed or implied by any of such statements. Factors that could affect actual results and events include risks associated with the impact of budget shortfalls in the federal, state and local government sectors; the loss of funding or the possible termination of a project by a client; the ability to obtain contract renewals or extensions; reliance on technology providers and subcontractors to complete client engagements; unanticipated claims as a result of project performance; variations in the timing, initiation or completion of client assignments; unanticipated costs incurred in fixed-price or transaction-based projects and warranty periods; rapid technological advances; the protection of intellectual property; the Company's ability to recruit, train and retain consultants and key personnel; the Company's ability to effectively manage growth and acquisitions; and other risk factors listed from time to time in the Company's filings and reports with the Securities and Exchange Commission, including the Company's most recent 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 September 30, 2002 and most recent Quarterly Report on Form 10-Q Form 10-Q See 10-Q. . |
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