Twenty-five of Top 100 Home Furnishings retailers now connected to FurnishNet’s Internet-based electronic exchange to transact business
San Diego, January 9, 2004 – FurnishNet, a leading provider of Internet-based supply chain solutions, announced today that it closed 12 new accounts in the quarter ending December 31, 2003. These signings included two Top 100 Home Furnishings retailers-Schewel Furniture of Lynchburg, Virginia, and Lack’s Valley Stores of Pharr, Texas-bringing the total of FurnishNet’s Top 100 connected retailers to 25. Other retailers that signed with FurnishNet included Rosen’s Furniture of Stroudsburg, Pennsylvania, and Northern Mattress of Fairfield, Maine.
The company also reached an agreement with Magnussen Home Furnishings, a Top 10 Canadian manufacturer, to provide outsourcing for all EDI operations.
FurnishNet processed over 350,000 purchase orders through its exchange service in 2003, a 105% increase over 2002. Additionally, the company reports a 147% increase in revenue for fiscal year 2003. Total manufacturers connected to the FurnishNet exchange climbed from 280 in January 2003 to 417 at the end of 2003.
“The cost and operational advantages of using our Internet-based exchange are clearly being recognized by a growing number of leaders in the home furnishings industry,” said Ron Sellers, FurnishNet’s Vice President. “And the fact that we have over 400 connected manufacturers only solidifies our leadership in this arena.”
FurnishNet`s solution for Transaction Management speeds the accurate transmission of purchase orders, purchase order acknowledgements, advance ship notices, invoices, and many other transaction types. By integrating e-mail, web applications, electronic data interchange (EDI), and XML, into a unique "Any-to-Any" exchange, FurnishNet is able to translate the information into the appropriate format for the immediate electronic flow of information between business partners of any size, running on any corporate system.
Over 480 of the nation`s leading retailers and manufacturers are using FurnishNet`s electronic document exchange solution to streamline their supply chains. For more information, please call 1-800-854-2263, or visit www.furnishnet.com and take the Self-Guided Tour.
800.854.2263, ext. 2176