Reynolds and Reynolds Launches Major e-Business Initiative; New President and COO Says the Internet is a Key Element of the Company's Blueprint for Growth
29 June 1999
Reynolds and Reynolds Launches Major e-Business Initiative; New President and COO Says the Internet is a Key Element of the Company's Blueprint for Growth
DAYTON, Ohio--June 29, 1999--Two months after joining The Reynolds and Reynolds Company as its new president and chief operating officer, Lloyd G. "Buzz" Waterhouse today announced the formation of Reynolds' eBusiness Group.The team is focused on leveraging the Internet to enhance Reynolds' position in the automotive and document services markets.
Waterhouse says the group was formed to bring clear focus on the new, network-based economy, a technology-driven sea change that he says will play an important role in the company's aggressive growth goals. "We plan to be the e-business leaders in the markets we serve, providing our customers with the added business horsepower associated with Internet-based solutions and services."
Reynolds already plays a key role in making Microsoft CarPoint the automotive industry's leading car-buying site on the Internet (as ranked by Media Metrix, the leading Internet audience usage measurement service). Additionally, Reynolds' Customer Advantage Internet-based system for document management gives users access to electronic print-on-demand and "fill-in" forms through their web browsers. And earlier this year, Reynolds introduced integrated voice and data services that will provide analysis and customized Internet and infrastructure solutions to enhance automobile dealers' market presence and productivity. Though successful, Waterhouse says the company's existing e-business services can be greatly expanded.
"Now we're bringing our Internet strategies together, establishing a web-focused infrastructure, and dedicating the people to rapidly grow the business internally and through strategic partnerships. Speed wins in e-business. We're establishing an Internet-focused organization that will move quickly and aggressively to leverage the Internet to provide value to our customers," he said.
Waterhouse says the real Internet revolution is just beginning. Companies like Reynolds, with tangible assets including proven manufacturing strengths, efficient distribution networks, large bases of satisfied customers, and clear market leadership are well positioned to lead the next phase of the Internet revolution. "If you look at the market dynamics today, you can see the increasing strength of established market leaders which have expanded their existing value propositions to include the Internet. Our focused eBusiness Group allows us to expand more aggressively from our existing leadership positions," Waterhouse said.
Waterhouse is a 26-year IBM veteran who most recently served as general manager of e-business services, with $2.7 billion in revenues and one of IBM's fastest growing business units.
Reynolds' eBusiness Group is a companywide team led by Greg Collins, formerly vice president, corporate strategy and development. The Group includes dedicated e-business teams from each of the company's business units. Reynolds' initial e-business efforts focus on automotive retailing and document management opportunities. Mark Brown, formerly group vice president, Automotive Solutions, leads the Automotive Division's efforts. Scott Collins, vice president, marketing, leads the e-business initiatives for the Business Systems Division. All Internet applications leverage a companywide e-business enablement center, led by Reynolds' CIO, Frank Caccamo. The e-business enablement center will support Reynolds' internal and external Internet activities.
Reynolds' Chairman and CEO, David R. Holmes, summarized the company's e-business plans by saying, "The Internet is a means of enriching existing customer relationships and attracting new customers. Our focused eBusiness Group will be a key component of Reynolds' blueprint for growth. We'll focus on leveraging our internal expertise with outside partnerships to introduce rapidly and regularly, e-business services that create more value for our customers, shareholders and associates."
Reynolds and Reynolds, headquartered in Dayton, Ohio, is a leading provider of integrated information management systems and related value-added services to automotive and general business markets. The company reported revenues of about $1.5 billion for the 12 months ended March 31, 1999. For more information on Reynolds and Reynolds, visit the company's World Wide Web site at http://www.reyrey.com, or call The Reynolds and Reynolds Information Hotline at 1-888-4REYREY.