Signet Launches Web-based Vendor Commerce Solution
Irvine, California, USA – October 6, 2004 - Island Pacific (AMEX:IPI) has partnered with Signet, to develop a B2B merchandising system. The new module will be an open platform, browser-based application which will allow Signet and its suppliers to manage their relationships more effectively.
The first stage of the project, which will be managed over several phases, will include the development of Purchase Order management. This is the management of the placing, updating and booking of orders between Signet and its suppliers through a secure server. There will also be trigger alerts that will be sent to all parties when a pre-organised event fails to occur. This will allow timely proactive management of purchase orders against agreed lead times with suppliers. Island Pacific will work with Signet to ensure that the receipt of goods by Signet will automatically pass the payment to the accounts department, allowing quicker payment of invoices and a reduction in paperwork. The system will provide a ‘Supplier Profile’ with a list of contacts and approved users to ensure security and facilitate better communications, both electronically and by telephone. Island Pacific has also established a facility for Signet to ‘publish’ individual supplier reports into the B2B database and for suppliers to view, print or download the information.
Future phases will include EDI, Electronic Payments, Document Publishing, Visibility of supplier shelf stock, Supplier provided product data, Collaborative planning and much more. This is initially seen as a 3 year joint project.
George Jeffrey IT Director, Signet Trading Group Limited said, "This is a very exciting development for us. Not only will it provide us with greater supply chain efficiencies, it will also provide us with 24/7 contact with our suppliers. Improved B2B communication forms a major step forward for us to improve our efficiencies and build strategic partnerships with major suppliers such as Island Pacific."
Mike Dotson, Director of Operations, Europe, at Island Pacific said, "Increasingly retailers are becoming aware that traditional methods of conducting business to supplier relationships are taxing and take their toll on the day-to-day running of their company. Island Pacific plans to aid Signet in setting itself apart from the competition, by improving communication with its suppliers, reducing lead times and improving system efficiencies."
About Island Pacific
Island Pacific is a global leader in retail merchandising, store operations, CRM, and multi-channel software solutions. For more than 25 years, Island Pacific has developed a reputation for delivering high-quality, high-reliability software to the retail industry. Recently, the company has transformed itself into the low-cost, high-value provider of retail enterprise solutions by developing breakthrough technologies, and by partnering with leading consulting organizations to provide next-generation services. In addition, Island Pacific leverages its years of experience with emerging and established retailers to craft creative solutions tailored for each customer’s needs.
As a result, Island Pacific is the definitive resource for scalable, flexible and affordable solutions for retailers around the world. Incorporating the recently acquired Retail Technologies International (RTI) and Page Digital, Island Pacific serves over 9,000 retail clients in more than 70 countries. Represented in more than 55,000 stores worldwide and available in 14 languages, the company’s technology manages billions of transactions annually under the brand names of IPMS, IP synaro, OnePointe and Retail Pro, and is the thought leader in multi-channel retailing.
Founded in 1978, the company is headquartered in Irvine, California, and has offices in the United States and the United Kingdom, and is represented by business partners in over 30 countries. For more information, please visit www.islandpacific.com and www.retailpro.com.
Certain statements contained in this news release regarding matters that are not historical facts are forward-looking statements. These statements relate to future events or the Company`s future performance. These statements are only predictions. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors listed in the Company`s Form 10-K for the fiscal year ended March 31, 2004 and other risk factors identified from time to time in the Company`s filings with the Securities and Exchange Commission. IPI undertakes no obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events.
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For more information contact:
Public Relations:
Madelaine Bennett at Emmett & Smith Limited on tel.: +44 (0) 20 7819 4800 or via email at Madelaine.Bennett@emmettandsmith.com
Investor Relations:
Ron Both at Liolios Group: 949/574-3860
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