FOR IMMEDIATE RELEASE
Contact: Christine Kemper, eScout
Objective Focuses on eScout Providing MarketPlace Deployment Capability
LEE`S SUMMIT, Mo. - August 27, 2001 - eScoutSM today announced that it has joined a network of leading content service providers whose products and services have been evaluated by PeopleSoft (Nasdaq: PSFT) for compatibility with PeopleSoft`s collaborative applications. eScout`s services and products are designed to dramatically reduce the time, costs and effort companies experience in creating and managing online trading relationships. This offering represents a milestone toward the achievement of the companies` common goal to reduce costs and improve efficiency in transacting business over the Internet.
"Our solution helps resolve one of the roadblocks that has hindered the adoption of e-commerce for all businesses-lack of an efficient, effective supplier management process," said Andrew Mies, vice president-strategic development, of eScout. "PeopleSoft is the leader in enabling the Collaborative Enterprise. By offering our supplier adoption, maintenance and hosting services, as well as our customer service support, as an option to PeopleSoft`s customers, we will be able to help them seamlessly conduct trade with their key suppliers--ultimately speeding delivery of the return on investment of their procurement platform."
"eScout`s supplier network offers PeopleSoft customers access to key supplier content as well as business process interaction," said Mike Frandsen, vice president and GM of Supply Chain & MarketPlace solutions at PeopleSoft. "We believe that PeopleSoft`s Collaborative Enterprise Solutions combined with eScout`s robust network can help our customers to reduce costs and improve eCommerce efficiency."
eScout is a leading e-business solutions provider whose rapid growth has enabled more than 17,000 companies and 75,000 buyers to seamlessly conduct trade through 100 private exchanges with access to almost 2 million SKUs. eScout`s expert supplier relationship management team consists of professionals with vast expertise in supply chain management, content management and supplier management. Additionally, through its international network of more than 1,300 regional and community banks, eScout is creating the deepest source of regional suppliers in the Global Trading Web(tm). eScout complements its strong supplier management expertise with dedicated customer service professionals available nearly 24/7 to clients of PeopleSoft MarketPlace.
eScoutSM is a leading e-business solutions provider for mainstream companies, utilizing the Internet and commercial banks to provide broader business opportunities, increased operational efficiencies, reduced costs and managed business processes. eScout`s international network of 1,300 regional and community banks represents more than $500 billion in banking assets and 15 percent of U.S. banks. eScout partner banks serve more than 2.5 million companies. In excess of 17,000 bank-sponsored businesses and more than 75,000 buyers form eScout`s online network, where companies transact business through more than 100 eScout-powered private exchanges. The interoperability of these exchanges creates one of the most liquid marketplaces on The Global Trading WebTM. The eScout ACH system and payment gateway allow payment transactions to be cleared seamlessly and electronically. Additionally, eScout provides business applications and a rich collection of tailored information sources. eScout raised $64.5 million in capital from several venture capital firms, including: Mayfield Fund; Oak Hill Venture Partners, L.P.; Citizens Financial Group, Inc.; Harris Bank (NYSE: BMO); Golden State Bancorp Inc. (NYSE: GSB); Bank of Montreal (TSE, NYSE: BMO) and Commerce One (NASDAQ: CMRC). eScout is headquartered at 850 NW Chipman Road, Lee`s Summit, MO 64063. Visit http://www.escout.com or call 1-888-SCOUT4U for more information.