Best Buy Leverages the webMethods Integration Platform to Streamline Communications with Vendors and Suppliers
FAIRFAX, Va. -- November 19, 2001 -- webMethods, Inc. (Nasdaq: WEBM), a leading provider of integration software, today announced that Best Buy Co., Inc. (NYSE: BBY), the number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances, selected the webMethods integration platform to centralize its communications with key business vendors and suppliers.
"When Best Buy selected the webMethods integration platform, it was the ideal solution for centralizing all business initiatives involving external communication with our vendors," said Patricia Vessey, E-Business communications manager, Best Buy Co., Inc. "The webMethods integration platform will help Best Buy streamline business processes and enable access to critical information in real-time, all of which is key to running an efficient business, staying ahead of the competition, and potentially saving the company in IT costs."
Previously, Best Buy sent information to suppliers and brick & mortar merchandise vendors solely using traditional, batch-driven EDI, which has required maintaining extensive and costly Value Added Networks (VAN). By utilizing an Internet-based platform, specifically the webMethods integration backbone, Best Buy will reduce VAN costs by nearly 50 percent.
With over 600 vendors, Best Buy needed a more flexible and cost-effective platform to exchange and process buyer and supplier information. With the webMethods integration platform, Best Buy will be able to extract data directly from applications, resulting in more accurate and timely data. This solution will position Best Buy to send EDI formatted data via a VAN or via the Internet (EDIINT) and send XML data via the Internet. Best Buy`s implementation of this enterprise solution is slated for spring 2002.
"One of the most important ways that companies can achieve greater efficiency and improve operating margins is to quickly eliminate redundant business processes by integrating their enterprise applications and automating communications with business vendors," said Beth Lovett, director, Consumer Goods and Services of webMethods Inc. "webMethods is pleased to provide the integration backbone to help Best Buy improve its overall business process management."
After an extensive evaluation, Best Buy selected the webMethods integration platform based on its flexibility and vision for implementation in a retail environment. Also important was webMethods` strategic relationship with i2 Technologies. webMethods` technology is embedded in i2 solutions. Best Buy is currently using i2 applications for transportation planning and management, demand planning, replenishment planning, markdown optimization and CPFR.
About Best Buy
Minneapolis-based Best Buy Co., Inc. (NYSE: BBY) is the nation`s number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Enterprise operates retail stores and commercial Web sites under the names: Best Buy, (BestBuy.com), Magnolia Hi-Fi, Media Play (MediaPlay.com), On Cue (OnCue.com), Sam Goody (SamGoody.com) and Suncoast (Suncoast.com). The Company reaches consumers through more than 1,800 retail stores nationwide, in Puerto Rico and in the U.S. Virgin Islands.
About webMethods, Inc.
webMethods, Inc. (Nasdaq: WEBM - news) is a leading provider of integration software. The webMethods integration platform allows customers to achieve quantifiable R.O.I. by linking business processes, enterprise and legacy applications, databases and workflows both within and across enterprises. By deploying the webMethods integration platform, customers reduce costs, create new revenue opportunities, strengthen relationships with customers, substantially increase supply chain efficiencies and streamline internal business processes.
Founded in 1996, webMethods is headquartered in Fairfax, Va., with offices throughout the U.S., Europe and Asia Pacific. webMethods has more than 750 customers worldwide including Global 2000 leaders such as Citibank, Dell, Eastman Chemical, The Ford Motor Company, Grainger, and Motorola. webMethods` strategic partners include Accenture, Ariba, BroadVision, Commerce One, Deloitte Consulting, EDS, Hewlett-Packard, i2 Technologies, J.D. Edwards, KPMG Consulting, Microsoft, Oracle Corp., SAP AG and Siebel Systems. More information about the company can be found at http://www.webMethods.com.
webMethods is a registered trademark of webMethods, Inc. in the USA and certain other countries. All other company and product names are the property of their respective owners.
This press release contains various remarks about the future expectations, plans and prospects of webMethods that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. The actual results of webMethods may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed under the heading "Factors That May Affect Future Operating Results" in the Business section of webMethods` Form 10-K for the year ended March 31, 2001 and in the Management`s Discussion and Analysis section of webMethods` Form 10-Q for the quarter ended September 30, 2001, both of which are on file with the U.S. Securities and Exchange Commission. webMethods disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this press release.