Richmond, Calif. - May 02, 2002 - QRS Corporation (Nasdaq: QRSI), a market leader in supply chain technology for the retail industry, today announced that J.C. Penney Corp. Inc. has selected QRS as a preferred provider of solutions to enable the electronic communication of critical business information with its entire trading partner community and among the retail company`s 1,100 J.C. Penney department stores and 2,600 Eckerd Drug Stores.
By choosing QRS Exchange, users are able to leverage a global trading community that supports more retail trading partners than any other and benefit from the rapid enablement capabilities of QRS` Global Services team.
J.C. Penney and Eckerd Drug Stores will use QRS Exchange, which features a complete range of communications technology solutions, in conjunction with QRS solutions it previously implemented, including QRS Catalogue, the retail industry`s most comprehensive product data synchronization tool featuring more than 90 million items; and QRS Sourcing, a collaborative application used to manage the entire global sourcing process -- from development to delivery. These solutions enable customers to streamline their supply chain processes and collaborate in real-time with their trading partners to achieve superior profit, maximum efficiency and competitive advantage.
QRS Exchange solutions enable more than 300,000 trading relationships per year and emphasize electronic enablement, compliance and participation of all trading partners -- from the smallest to the largest. The QRS Exchange solutions include:
Data Exchange -- An electronic mailbox service that accommodates information from standard EDI to proprietary data formats.
Internet Transaction Exchange -- An IP-based transaction delivery network with real-time information delivery, employing open standards and enhanced options while bridging legacy systems with Internet environments.
Web Forms -- A tool that provides workflow processes and data translation services for small and mid-size companies to electronically exchange documents.
Managed EC -- EDI-to-fax and e-mail translation services that eliminate the need for hardware, software or additional staff.
"J.C. Penney has always demonstrated thought leadership when it comes to driving efficiencies in the retail supply chain," said Liz Fetter, President and CEO of QRS. "As a preferred services provider, we look forward to working more closely with J.C. Penney to help the company further improve its trading partner relationships and increase revenue through the automation of business transactions."
QRS (Nasdaq: QRSI) is a market leader in supply chain technology for the retail industry. Since 1988, QRS has led the way in building collaborative commerce relationships through its software applications, trading community management tools and global services. QRS` full suite of proven, scalable technology solutions enable our customers to streamline their supply chain processes and collaborate in real-time with their trading partners to achieve superior profit, maximum efficiency and competitive advantage. Learn more about QRS Corporation at www.qrs.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This release contains forward-looking statements regarding future events and the future financial performance of QRS Corporation that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by QRS Corporation with the SEC, specifically the most recent reports on Form 10-K, 8-K, and 10-Q, each as it may be amended from time to time, which identify important factors that could cause actual results to differ from those contained in the forward-looking statements, including risks associated with general economic conditions; specific conditions in the retail industry; competition; changes in our senior management; rapid technological change in our industry; dependence upon key customers and their trading partners; ability to introduce and market acceptance of new products and services; the ability to successfully integrate and manage acquired businesses and technologies; and dependence upon IBM for e-commerce services, among others. QRS assumes no obligation to update the forward-looking information contained in this news release.
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