Elcom and IMPAQ Partner for Hosted Supplier Enablement Solution
Elcom and IMPAQ Partner for Hosted Supplier Enablement Solution
Elcom to offer IMPAQ's hosted supplier enablement solution for Elcom's Clients
NORWOOD, Mass., Feb. 1 /PRNewswire-FirstCall/ -- Elcom International, Inc. (BULLETIN BOARD: ELCO and AIM: ELC and ELCS) , a leading international provider of hosted eProcurement and eMarketplace solutions, today announced a partnership agreement with IMPAQ Business Solutions Ltd., a leading provider of supplier enablement solutions.
IMPAQ's newly released hosted HxDE Supplier Enablement System ("SEP") provides electronic catalog management and XML transaction processing support for purchase orders and invoices. The HxDE suite of XML-based solutions enable the electronic transfer of business-critical documents between Elcom's eProcurement and eMarketplace systems and suppliers who access IMPAQ's supplier portal. The IMPAQ HxDE SEP automates the handling of purchase orders, PO acknowledgements, invoicing, remittances and transmission of supplier electronic catalogs. To simplify deployment, HxDE is remotely-hosted by Elcom. The HxDE SEP is specifically targeted at all suppliers who want to participate in eCommerce with their customers but who lack the IT infrastructure to do so cost effectively.
Robert J. Crowell, Elcom International's Chairman and CEO, said, "Supplier enablement for the small to medium sized supplier remains a challenge and we are pleased to be able to partner with IMPAQ to address this need. There is significant synergy between our two offerings; Elcom offers affordable eProcurement and eMarketplace solutions for enterprises of all sizes and is committed to driving down the total cost of solution ownership. Using IMPAQ's system, Elcom believes it can lower costs while providing clients with enhanced plug and play functionality, increased use of industry standards and improved supply chain visibility."
Michael Bennett, Managing Director of IMPAQ, said, "Suppliers which participate in Elcom's customers' eProcurement and eMarketplaces now have an integrated and hosted supplier enablement solution to accelerate supplier adoption, especially in the SME community, which is critical to the earliest realisation of all the benefits of any eProcurement or eMarketplace project. Suppliers of all sizes will be able to interoperate, through a supplier portal, at a high level of interactivity with Elcom's PECOS platform."
The IMPAQ HxDE suite includes:
* Catalogue -- a highly effective electronic catalog management system
which automates and simplifies the delivery of suppliers' product
information to their customers. Customers can view information on a
supplier's range of products and pricing and also have confidence that
it is correctly formatted, accurate and up-to-date.
* Purchase Orders -- a fully automated purchase order management system
enabling electronic receipt, validation, auditing and processing of all
purchase orders. This delivers significant reductions in the per
document cost compared with traditional methods
* Invoicing -- invoices can be generated, issued and monitored via the web
for maximum efficiencies. POs can also be "flipped" to create an
eInvoice for those organisations who cannot send eInvoices from their
back office system.
About IMPAQ Business Solutions Ltd.
IMPAQ's low cost solutions utilise the internet to accelerate an organisation's engagement in eProcurement programs by automating the electronic transfer and integration of business-critical documents throughout the supply chain irrespective of format, xml standard or back office system. Visit http://www.impaq.co.uk/ for more information.
About Elcom International, Inc.
Elcom International, Inc. (BULLETIN BOARD: ELCO and AIM: ELC and ELCS) , operates elcom, inc., an international B2B Commerce Service Provider offering affordable solutions for buyers, sellers and commerce communities to conduct business online. PECOS, Elcom's remotely-hosted flagship solution, enables enterprises of all sizes to achieve the many benefits of B2B eCommerce without the burden of infrastructure investment and ongoing content and system management. http://www.elcominternational.com/
Elcom Product Offerings
For detailed information on our PECOS(TM) eMarketplace and eProcurement and optional Dynamic Trading solutions, please visit our website at http://www.elcominternational.com/products.htm
STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
Except for the historical information contained herein, the matters discussed in this press release may include forward-looking statements or information. All statements, other than statements of historical fact, including, without limitation, those with respect to the Company's objectives, plans and strategies set forth herein and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects", "forecasts" or similar expressions, are forward-looking statements. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that the Company's expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties which could cause the Company's future results to differ materially from those anticipated, including: (i) the Company's history of ongoing operating losses; (ii) the overall marketplace and clients' acceptance and usage of eCommerce software systems, including corporate demand therefor, the impact of competitive technologies, products and pricing, particularly given the substantially larger size and scale of certain competitors and potential competitors, control of expenses, revenue generation by the acquisition of new customers, the acceptance of the eProcurement Scotland program by public entities, and corporate demand for eProcurement and eMarketplace solutions; (iii) the consequent results of operations given the aforementioned factors; and (iv) the requirement for the Company to raise additional working capital to fund operations no later than March 2005 and the availability and terms of any such funding to the Company. Without any such funding, the Company believes it may be forced to curtail operations, and if no alternative to financing, such as a merger or acquisition is consummated, or if no other funding sources are available whatsoever, the Company may have no option but to seek protection under bankruptcy laws. Other risks are detailed from time to time in the Company's 2003 Annual Report on Form 10-K, as amended, its Quarterly Reports on Form 10-QSB for the quarterly periods ended March 31, June 30, and September 30, 2004, and in its other SEC reports and statements. The Company assumes no obligation to update any of the information contained or referenced in this press release.
Source: Elcom International, Inc.
CONTACT: Investor Relations of Elcom International, Inc.,
Web site: http://www.elcom.com/