Overstock.com Signs On to Use Vcommerce’s New RetailVantage Suite to Manage Sales Transactions
Popular Online Closeout Retailer Selects Vcommerce to Outsource
Direct-to-Consumer E-Commerce Business
SCOTTSDALE, ARIZ., AUGUST 3, 2004 – Vcommerce Corporation today announced that Overstock.com® (NASDAQ: OSTK), the popular internet retailer, has chosen Vcommerce’s RetailVantage solution to help manage its online transactions. Overstock.com expects Vcommerce’s solution to significantly reduce its transaction costs and increase efficiency in its core online operations.
Overstock.com will use Vcommerce’s robust Web-based tools to control and provide visibility into its commerce chain, from catalog management to order fulfillment to returns management. The hosted solution will enable Overstock.com to focus on the most impactful parts of its business, while ensuring that the details of its online transactions are effectively managed.
Overstock.com is an online closeout retailer offering discount, brand-name merchandise for sale over the Internet. Based in Salt Lake City, Utah, the company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel.
"Vcommerce’s offering should result in a tremendous cost savings for us, especially with its ‘pay-as-you-go’ model. The system is flexible enough to allow us to use our existing business processes while leveraging the efficiencies gained with the Vcommerce platform," said Shawn Schwegman, vice president of technology for Overstock.com. "RetailVantage will make it easier for us to focus our energies on rapid, low cost growth while continuing to deliver the lowest prices on the internet and exceptional customer service."
"It’s an honor to welcome such an industry leader as Overstock.com to Vcommerce’s marquee client base. Overstock.com is a truly visionary online retailer, and we are very pleased that they’ve chosen our solutions to take them into the next phase of their growth and development," said Vcommerce CEO Dan Clarke. "Their initiatives to cut costs and drive efficiencies are a perfect fit for our flexible solutions."
"Overstock.com is a great example how Vcommerce clients can choose the level of involvement they have in their commerce initiatives," said Dan Kennedy, Vcommerce’s president and CTO. "With our flexible offerings, clients control how they do business with us – they can choose to outsource some or all of their commerce chain functions, or use our robust Web-based tools to manage the process themselves. Overstock.com has chosen to use our hosted tools to maintain the highest level of control."
About RetailVantage
RetailVantage is an end-to-end solution for multi-channel initiatives designed to serve the retail industry’s specific needs. It offers outsourced services and Web-based tools for visibility and control across all steps in the commerce chain – from order capture to fulfillment to reverse logistics – for such channels as Web stores, in-store kiosks, printed catalogs and phone-order entry. The solution can handle such retail-specific needs as in-store returns, compliance with the National Retail Federation fiscal calendar, in-store sourcing, seasonal product line extensions, holiday promotions, online/kiosk merchandizing, and channel-specific pricing. Based on the clients’ specific needs, they can choose to use the entire RetailVantage solution or one of its two component solutions, OrderVantage and SupplierVantage, to augment their existing commerce chain systems. RetailVantage enables retailers to maintain focus on their primary businesses while fulfilling their customers’ demands for a smooth, multi-channel shopping experience.
For additional information regarding Vcommerce and its solutions, please contact Vcommerce at 480-922-9922 or visit www.vcommerce.com.
About Vcommerce Corporation
Vcommerce is the leading provider of multi-channel retail solutions. Vcommerce provides proven solutions to capture, source and manage orders, so retailers can dramatically minimize risks, increase efficiencies and reduce costs associated with multi-channel retail initiatives. Vcommerce makes it as easy as possible for retailers to do business in multiple channels, such as e-commerce, phone order entry, kiosks or catalogs. Clients control the way they operate their multi-channel businesses – they can choose to outsource some or all of their commerce chain functions, or use Vcommerce’s robust, Web-based tools to manage the process themselves. The company`s growing client base includes Gateway, Overstock.com, Borders, GE and Waldenbooks. A privately held company, Vcommerce is headquartered in Scottsdale, AZ.
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Overstock.com is a registered trademark of Overstock.com, Inc.
Vcommerce Contact:
Aimee Brainard Schoaf
623-536-5021
aschoaf@vcommerce.com
Lori Bush
480-551-3797
lbush@vcommerce.com
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