eScoutSM Commits to Join PeopleSoft`s Network of Content Service Providers
FOR IMMEDIATE RELEASE
Contact: Christine Kemper, eScout
816-448-4432
Christine.Kemper@escout.com
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.
About eScoutSM
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.
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