W3Net, Ltd., and Pantellos Announce Interoperability Agreement; Cox Industries and First Energy Corp. First to Conduct Transaction Through Combined Network.
YELM, Wash. & HOUSTON--(BUSINESS WIRE)--March 2, 2004
Supply chain solution companies W3Net, Ltd., and Pantellos announced today that they have established a fully interoperable connection between their respective electronic marketplace transaction hubs.
Leveraging this interconnection, wood-products suppliers and utilities can now electronically transact on the procurement and sales of wood products by "connecting once" to either W3Net or Pantellos. Rather than invest time and resources in building and maintaining expensive point-to-point connections to multiple buyers, suppliers and eMarketplaces, trading partners are now able to minimize their costs by maximizing their existing connections to W3Net and Pantellos.
Moreover, the interoperable connection reduces the management, administrative and data entry costs surrounding traditional transaction processes by providing both suppliers and utilities access to an entire suite of electronic business documents, from Orders and Order Responses to Change Orders and Advance Shipment Notices. By electronically accessing shared data and business documents, trading partners can greatly streamline their supply chain transactions, remove inefficient manual transaction processes and reduce the associated costs.
"We are excited to have partnered with Pantellos in order to reach this corporate milestone, which will help provide our customers the solutions they require to meet their business needs," stated Thomas J. Westbrook, co-founder, president and CEO of W3Net. "We look forward to working with Pantellos to not only further this initiative, but also drive the adoption of electronic commerce solutions throughout the utility industry."
The Interoperability Agreement instantly establishes an expanded trading community from which both supplier and utilities will greatly benefit. Pantellos utility customers can then use their existing Pantellos electronic supply chain solutions to complete the electronic procure-to-pay process.
"Pantellos is always looking for ways to help its customers maximize their current investments in electronic supply chain solutions," said Jim Neikirk, president and CEO of Pantellos. "The Interoperability Agreement with W3Net extends to our customers an even larger community with which to transact via the single connection to the Pantellos Marketplace Hub and provides them with yet another opportunity to streamline their business processes in a more efficient and cost-effective manner."
W3Net and Pantellos also announced today that Cox Industries and FirstEnergy Corp. are the first supplier and buyer organizations, respectively, to successfully transact through the interoperable network. Combining the connection between W3Net and Pantellos with the W3Net Supplier Managed Inventory Module (SMI), Cox Industries can now successfully and efficiently replenish distribution poles for FirstEnergy in multiple locations across the United States through a completely electronic process that simultaneously updates its inventory management system.
"Electronic commerce and our relationships with W3Net and Pantellos are critical to our corporate strategy and our ability to support the needs of our customers in a highly competitive market," commented Greg Campbell, VP of Cox Industries' Utility Products Division. "By providing unlimited opportunity to transact electronically with current and future customers, W3Net and Pantellos are making it easier and much more cost-effective for us to reach our business objectives."
Pantellos is the leading supply chain services company for the utility and energy industries. Built by the industry, for the industry, Pantellos delivers deep industry knowledge and expertise around a broad suite of supply chain tools and services to its active trading community of more than 30 buyer and 500 supplier companies. Pantellos Marketplace solutions enable customers to electronically transact on a host of direct and indirect goods and services through either direct integration with its Marketplace, or via managed Web solutions. Since inception, utilities have used Pantellos to source, procure and manage more than 100 categories of products and services. Pantellos supply chain services include: supply management services, enterprise sourcing services, services management solutions, electronic settlement solutions and program implementation.
About W3Net, Ltd.
W3Net, Ltd., (World Wide Wood Network(R)) is a privately owned company with offices in Yelm, Washington. A company that facilitates the supply chain distribution process between buyers and sellers via its patent pending W3Net CBOS(R), W3Net(TM) provides information and supply chain management solutions that enable users to conduct business and access critical and timely business information within their enterprise and across their supply chain both from their desktops or remotely. W3Net also operates an electronic marketplace and transaction hub at www.wwwood.net.
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|Date:||Mar 2, 2004|
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