Elcom Announces New eMarketplace Strategic Initiative
August 12 2004 - 3:00AM
PR Newswire (US)
Elcom Announces New eMarketplace Strategic Initiative Company
Partners with Ingram Micro, Inc. and Office Depot, Inc. to Offer
eMarketplace to Commercial Clients in the U.S. NORWOOD, Mass., Aug.
12 /PRNewswire-FirstCall/ -- Elcom International, Inc.
(OTC:ELCOOTC:andOTC:AIM:OTC:ELCOTC:andOTC:ELCS) (BULLETIN BOARD:
ELCO and AIM: ELC and ELCS) , today announced the commercial
availability of PECOS Business Procurement Manager ("PECOS.BPM").
PECOS.BPM is Elcom's robust and remotely-hosted eProcurement
system, configured as an eMarketplace for commercial and corporate
customers. PECOS.BPM is a modified version of PECOS, Elcom's
leading eProcurement and eMarketplaces system which is in use by
over 100 organizations including the Government of Scotland,
CBS/Viacom, Tennessee Valley Authority, and many others. Elcom's
PECOS.BPM offers hundreds of thousands of products from Office
Depot, Inc. (NYSE:ODP), one of the world's largest resellers of
office products, and Ingram Micro, Inc., the largest distributor of
IT products in the world, both of which are strategic supplier
partners of Elcom in this initiative. PECOS.BPM will offer Elcom's
prospective clients all the benefits of a robust eProcurement
system in a 'save as you spend', low-cost model. Businesses and
other commercial organizations, all of which purchase IT and office
products frequently, will be able to make immediate use of
PECOS.BPM, including requisitioning, approval routing, electronic
invoicing, robust reporting, and many other features and benefits.
PECOS.BPM clients who purchase their commodity-type IT and office
products using the system will receive PECOS.BPM at no charge. The
Company will receive an agent fee on revenues which pass through
the system. Robert J. Crowell, Elcom's Chairman and CEO, said, "We
are very excited about the prospects of PECOS.BPM. We have
considerable experience in the eMarketplace area, especially for IT
products, from prior to the 9/11 period, and that knowledge has
enabled us to quickly rebuild and indeed expand, our new PECOS
Business Procurement Manager offering to potential commercial
clients." Mr. Crowell continued, "We intend, assuming a client's
permission, to announce clients as they come on board, so I expect
our investors will be able to follow the anticipated success of
this initiative. Our eProcurement technology is proven and robust
and we believe offering PECOS.BPM at no charge to commercial
customers, represents a value-add proposition that is compelling to
say the least. We look forward to introducing PECOS.BPM to the
'Fortune 100,000' companies across the U.S." "We are pleased to be
recognized as a strategic go-to-market partner in Elcom's Business
Procurement Manager initiative," says Peter Dimarco, vice president
of VAR Sales, Ingram Micro U.S. "By teaming with Ingram Micro to
offer PECOS.BPM to commercial customers, Elcom is dramatically
increasing its sales potential and making it easier for customers
to do business with them over the Internet." "Office Depot views
the Internet as a strategic tool in B2B procurement. As such, we
believe Elcom's PECOS will open new doors for the sale of our
products and new services to our customers," added Monica
Luechtefeld, Executive Vice President of Global E-Commerce for
Office Depot. John Halnen, Elcom's President and Chief Operating
Officer, commented, "Both Ingram Micro and Office Depot are
strategic partners of Elcom and leaders and visionaries in their
respective areas of supply. I look forward to working closely with
both companies to maximize the benefits of having their products in
our PECOS.BPM commercial eMarketplace." Elcom expects to begin
active marketing in September. About Ingram Micro, Inc. Ingram
Micro Inc. (NYSE:IM) is the world's largest technology distributor
and a leading technology sales, marketing and logistics company. As
a vital link in the technology value chain, Ingram Micro creates
sales and profitability opportunities for vendors and resellers
through unique marketing programs, outsourced logistics services,
technical support, financial services and product aggregation and
distribution. Since its beginnings in 1979, Ingram Micro has
connected technology solution providers with vendors worldwide,
identifying markets and technologies that shape the IT industry.
Today, Ingram Micro remains at the forefront of the global
technology marketplace, bringing the latest products and services
to market and finding new ways to bring value to our customers. The
company offers a broad array of solutions and services to nearly
165,000 resellers by distributing and marketing hundreds of
thousands of IT products worldwide from nearly 1,400 suppliers.
Through Ingram Micro Logistics, the company provides customizable
services for order management and fulfillment, contract
manufacturing, contract warehousing, product procurement, product
pack out and cartonization, reverse logistics, transportation
management, customer care, credit and collection management
services, and other value chain services. Ingram Micro serves 100
countries and is the only global IT distributor with operations in
Asia. Additional information can be found at
http://www.ingrammicro.com/ About Office Depot, Inc. With annual
sales of more than $12 billion, no one sells more office supplies
to more customers in more countries than Office Depot. Founded in
1986 and headquartered in Delray Beach, Florida, the company
conducts business in 22 countries and employs nearly 50,000 people
worldwide. Office Depot is an industry leader in every distribution
channel -- from retail stores and contract delivery to catalogs and
e-commerce. The company is the world's number three online retailer
-- on target to generate $2.6B in sales for FY'03. In North
America, Office Depot has more than 900 retail stores in addition
to a national business-to-business delivery network supported by 22
delivery centers, more than 60 local sales offices and 13 regional
call centers. The company's common stock is traded on the New York
Stock Exchange under the symbol ODP and is included in the S&P
500 Index. Additional press information can be found at:
http://mediarelations.officedepot.com/ About Elcom International,
Inc. Elcom International, Inc.
(OTC:ELCOOTC:andOTC:AIM:OTC:ELCOTC:and ELCS) (BULLETIN BOARD: ELCO
and AIM: ELC and ELCS) , operates elcom, inc., an international B2B
Commerce Service Provider offering affordable solutions for buyers,
sellers and commerce communities to conduct business online. PECOS,
Elcom's remotely-hosted flagship solution, enables enterprises of
all sizes to achieve the many benefits of B2B eCommerce without the
burden of infrastructure investment and ongoing content and system
management. http://www.elcominternational.com/ Links to Sites of
Interest: http://www.eprocurementscotland.com/ http://www.tva.com/
http://www.egovmonitor.com/links?129a STATEMENT UNDER THE PRIVATE
SECURITIES LITIGATION REFORM ACT Except for the historical
information contained herein, the matters discussed in this press
release could include forward-looking statements or information.
All statements, other than statements of historical fact,
including, without limitation, those with respect to the Company's
objectives, plans and strategies set forth herein and those
preceded by or that include the words "believes," "expects,"
"targets," "intends," "anticipates," "plans," or similar
expressions, are forward-looking statements. Although the Company
believes that such forward-looking statements are reasonable, it
can give no assurance that the Company's expectations are, or will
be, correct. These forward-looking statements involve a number of
risks and uncertainties which could cause the Company's future
results to differ materially from those anticipated, including: (i)
the Company's history of ongoing operating losses; (ii) the overall
marketplace and client's acceptance and usage of eCommerce software
systems, specifically the Company's PECOS eProcurement and
eMarketplace systems and demand therefor by public sector
organizations in the U.K., both under the Company's contract with
Capgemini plc (U.K.) associated with the Scottish Executive and by
municipalities in England, the impact of competitive technologies,
products and pricing, particularly given the substantially larger
size and scale of certain competitors and potential competitors,
and control of expenses, revenue growth and corporate demand for
eProcurement and eMarketplace solutions; (iii) the consequent
results of operations given the aforementioned factors; (iv) the
possibility that the Company's revenues may not reach the level
necessary to support positive cash flow and if so, the Company's
need to raise additional working capital to fund operations in the
future; (v) the availability and terms of any such funding to the
Company, if available, and (vi) other risks detailed in the
Company's Annual Report on Form 10-K, as amended, filed on May 10,
2004, in its Forms 10-QSB for the first and second quarters of
2004, and from time to time in its other SEC reports and
statements. The Company assumes no obligation to update any of the
information contained or referenced in this press release. Company
Contact: Investor Relations e-mail: DATASOURCE: Elcom
International, Inc. CONTACT: Investor Relations of Elcom
International, Inc., Web site:
http://mediarelations.officedepot.com/ http://www.ingrammicro.com/
http://www.elcominternational.com/
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