eNucleus Signs Licensing Deal to Provide On-line Benefits Administration.CHICAGO -- eNucleus, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : ENUI.OB) announced today that it has signed a contract to license its proprietary benefits administration platform to BackOffice Partners (BOP), serving the growing Professional Employer Organization A professional employer organization (PEO) provides outsourcing of payroll, workers' compensation, human resources and employee benefits administration. It does this by hiring a client company’s employees, thus becoming their employer of record. (PEO) and Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. Outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. market, a $40 BN market in 2003, and projected to grow at an average rate of 10.9% through 2008 (Source: IDC). This initial licensing arrangement for over $1.2 Million also provides for follow-on services and upgrade opportunities for eNucleus throughout the life of the contract. The eNucleus PrimeWire benefits administration platform, since 1998, integrates all key aspects of employee benefits administration from eligibility and enrollment to reporting and billing reconciliation. In addition to simplifying employee enrollment and improving employee access to benefit information via the Internet, the Internet, the, international computer network linking together thousands of individual networks at military and government agencies, educational institutions, nonprofit organizations, industrial and financial corporations of all sizes, and commercial enterprises eNucleus platform enables its clients to reduce their "hard" benefits administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. and enables them to deploy their resources and human capital more efficiently. David L. Briscoe, President and Founder of BackOffice Partners, Inc., commented, "After carefully considering all of the available solutions in the marketplace, my research concluded that eNucleus offered the best mix of platform, ease of use, flexibility and power. I am confident that the eNucleus platform offers all that is required to make my business very, very successful." John Paulsen, 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 eNucleus said, "Our licensing agreement with BackOffice Partners is another demonstration of the value that our business processing applications deliver to the markets we serve. Our benefits administration platform, through which we expect to serve over 250,000 employees in 2005, is a significant cost-reducing proposition for our clients. We look forward to a mutually rewarding relationship with BackOffice Partners, as it meets its clients' demands for an automated, cost-efficient solution." About eNucleus eNucleus (www.enucleus.com) is a supply-chain management applications company that delivers proprietary software solutions via license and managed hosting for the Global 1000. The seamless and immediate exchange of critical business information provided by our software solutions allows our clients to run their businesses with maximum efficiency and profitability. For more information on eNucleus solutions, go to www.enucleus.com. More on the PrimeWire technology is available at www.primewire.com. About BackOffice Partners, Inc. BackOffice Partners was founded in 2001 to provide consulting and technology solutions to the PEO and Insurance Brokerage markets in the areas of group insurance administration, group insurance self-service, insurance billing, electronic billing Electronic billing is the electronic delivery and presentation of financial statements, bills, invoices, and related information sent by a company to its customers. Electronic billing is also referred to as the following:
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. The information contained in this press release, including any "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 contained herein, should be reviewed in conjunction with the Company's annual report, financial filings and other publicly available information regarding the Company, copies of which are available from the Company upon request as well as with its periodic SEC filings. Such publicly available information sets forth many risks and uncertainties related to the Company's business and such statements, including risks and uncertainties related to that are unpredictable and outside of the influence and/or control of the Company. |
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