iProcure Wins Supplier Hall of Fame Award From Lear
24 April 2000
Datastream Systems' iProcure Wins Supplier Hall of Fame Award From Lear Corporation
Lear, Using iProcure(TM) Network to Develop "Full Circle" E-Commerce System,
Chooses Datastream From More Than 1,600 Suppliers as One of Lear's
Best Of 1999
GREENVILLE, S.C., April 24 Datastream Systems, Inc.
(Nasdaq: DSTM) today announced that Lear Corporation (NYSE: LEA), a Fortune
150 global automotive supplier, has selected Datastream to receive its
Supplier Hall of Fame Award for 1999.
Lear chose Datastream's iProcure(TM) Network to develop the system to
implement Lear's "full circle" e-commerce system, the first implemented
exchange of its type in the auto industry.
"We are very pleased with the success we have seen of this major
initiative," said Kenneth L. Way, Lear Chairman and Chief Executive Officer.
"With Datastream and our key suppliers, we see a clear opportunity for cost
savings at Lear to meet our customers' expectations, and we are fully
committed to e-commerce as an opportunity to significantly shape the auto
industry."
"The partnership with Lear represents our commitment to enterprise-wide,
plant-based procurement," said Larry Blackwell, president, CEO and chairman of
the board for Datastream Systems. "With our business model, customer base and
expertise in automated procurement of plant spare parts, we believe we are
uniquely positioned for long-term success in industrial electronic commerce.
As such, we believe this award is a significant achievement for iProcure and
Datastream."
The Lear Corporation Supplier Hall of Fame Awards were established to
recognize companies that have provided best-of-class service to Lear's North
American Operations. Using the Lear Supplier Rating System, Lear selected
Datastream for the award based on quality, delivery, service and
competitiveness. Out of more than 1,650 suppliers to Lear's North American
Operations, only eight companies were honored with the prestigious award.
About Lear Corporation
Lear Corporation, a Fortune 150 company headquartered in Southfield,
Mich., is one of the world's largest automotive suppliers, with 1999 sales of
$12.4 billion. The company's world-class products are designed, engineered
and manufactured by more than 120,000 employees in over 300 facilities located
in 33 countries. Information about Lear and its products is available on the
Internet at http://www.lear.com .
About the iProcure(TM) Network
The iProcure(TM) network is an Internet marketplace that addresses the
highly-specific needs of organizations purchasing industrial parts and
services. A division of Datastream Systems (Nasdaq: DSTM), iProcure's
business-to-business network brings together maintenance customers and a wide
range of suppliers whose catalogs contain more than two million industrial
parts. The iProcure(TM) network integrates seamlessly with Datastream's
industry leading enterprise asset management software and all leading demand-
driven ERP packages. It allows customers to maximize their investment in
legacy systems to complete and automate their back-office supply chain.
iProcure is also available in a standalone Web-based version. For more
information, please visit http://www.iProcure.com .
About Datastream Systems, Inc.
Datastream Systems (Nasdaq: DSTM) helps companies ensure plant efficiency
through intelligent asset management and online industrial procurement.
The company's products and services help a wide range of customers in 129
countries-including more than 60 percent of the Fortune 500-increase equipment
uptime, reduce maintenance, repair and operations costs and ultimately,
streamline business procurement processes. The company has sold over 55,000
systems worldwide, accounting for more than 56 percent of the unit market
share* in computerized maintenance management and enterprise asset management
systems. The company's iProcure(TM) network, located at
http://www.iProcure.com , provides procurement capabilities for the industrial
market.
* Based on number of system units sold, as reported by ARC Advisory Group,
1999.
iProcure and World Leader in Maintenance Solutions are marks of Datastream
Systems, Inc. or its subsidiaries. All other products or company names
mentioned are used for identification purposes only and may be trademarks of
their respective owners.
This news release contains forward-looking statements which involve a
number of risks and uncertainties that could cause actual results to differ
materially from historical results or those anticipated. Potential risks and
uncertainties include, but are not limited to, those described in the
Company's Annual Report on Form 10-K, filed with the Securities and Exchange
Commission for the year ended December 31, 1999. With respect to such
forward-looking statements, Datastream seeks the protections afforded by the
Private Securities Litigation Reform Act of 1995.