(April 27, 1999)
Contact(s):
Karen
Houston
Oracle Corp.
650/607-0326
|
Kim Stocks
Applied
Communications
415/365-0222
|
FastForward(SM) Internet Procurement Designed to Get Companies
Running in Approximately 60 Days or Less
Expected Savings of Over 50 percent in Processing Time and 10
percent in Procurement Costs
New York, NY, April 27, 1999-At the Gartner Group's Internet and
Electronic Commerce Conference, Oracle Corp. today introduced an
Internet procurement solution for mid-sized companies that helps to
significantly reduce the time and costs associated with purchasing
goods and services. Oracle FastForward(SM) Internet Procurement
solution combines software, implementation services, education and
support designed to get mid-sized companies up and running with a
fully automated Web-based procurement system in approximately 60
business days. The newest addition to Oracle's program for mid-sized
companies, FastForward Internet Procurement, will be available for
customers beginning May 5, 1999.
FastForward Internet Procurement, part of the Oracle Strategic
Procurement product family, is a fully automated Web-based
procurement solution that manages the acquisition of goods and
services by automating the requisition to payment process. Mid-sized
companies typically spend an estimated 20 percent of revenues on
purchasing. Internet-based procurement has been proven to yield
savings of 10 percent or more on procurement costs. Additionally,
mid-sized companies can benefit from cutting processing times by
more than 50 percent through streamlined procurement processes that
eliminate "maverick buying" within the company and reduce "contract
leakage" that undercuts negotiated supplier discounts.
"Oracle has revolutionized the way we do purchasing," said David
Jew, San Francisco Newspaper Agency. "We have experienced estimated
savings of 10 to 20 percent in purchasing costs and we've cut time
required for processing requisitions by upwards of 50 percent. And,
all we needed to get our employees up and running was to put a
bookmark in their browser."
Tailored Solution Combines Procure-to-Pay Software, Electronic
Catalog Content and Implementation Services
The first in a series of e-commerce solutions designed
specifically for the mid-market, FastForward Internet Procurement
consists of an intuitive, self-service application for employees to
request and purchase items along with financial applications to
automate approvals, purchase and payment. FastForward Internet
Procurement provides catalog items to support non-production, MRO
(maintenance, repair and operations), service and administrative
purchases. The solution consists of the following Internet-based
modules:
Oracle Self-Service Purchasing - enables employees to initiate
purchasing requests on their desktops by searching electronic
catalogs for good and services.
Oracle Purchasing - helps for purchasing employees to receive,
track and process purchasing requests .
Oracle Payables - allows employees to process supplier
payment.
Electronic Catalogs - offered through Oracle partner Requisite
Technology. The catalog within FastForward includes content from
Corporate Express, Inc. and W. W. Grainger, Inc. to provide a wide
range of office supplies and MRO equipment.
Additional options to the FastForward Internet Procurement
solution include TPN Register's Buyer Services, which enables
companies to participate in hosted electronic buying communities,
Requisite custom content management services, and Oracle Purchasing
Intelligence. Additionally, FastForward Internet Procurement can be
implemented in conjunction with other industry-leading FastForward
solutions.
Oracle FastForward Internet Procurement includes tailored
education services which provide four days of onsite "super user"
training and an end-user training repository. Additionally, one year
of OracleSILVER(SM) support includes 24x7 global telephone support
and regular account management reporting.
"Oracle FastForward Internet Procurement is a low-risk solution
for mid-sized businesses to quickly realize the time and cost saves
of Internet-based procurement," said George Roberts, senior vice
president, North American Sales. "The FastForward family of
solutions, built specifically for the mid-market, allows companies
to implement critical applications in a low-risk environment while
maintaining the flexibility to grow as the company grows."
For more information about Oracle's FastForward mid-market
solutions, please refer to http://www.oracle.com/fastforward.
Oracle Corporation is the world's leading supplier of software
for information management, and the world's second largest software
company. With annual revenues of more than $8.3 billion, the company
offers its database, application server, tools and application
products, along with related consulting, education and support
services, in more than 145 countries around the world.
For more information about Oracle, please call 650/506-7000.
Oracle's World Wide Web address is http://www.oracle.com/.