GMAC B2B Credit, ProfitScape(TM) and Informix(R) Align To Announce a New Way to 'Do Business(TM)' with eNET30(TM)
14 November 2000
GMAC B2B Credit, ProfitScape(TM) and Informix(R) Align To Announce a New Way to 'Do Business(TM)' with eNET30(TM)DETROIT, LAS VEGAS, and WESTBORO, Mass., Nov. 14 GMAC B2B Credit, ProfitScape.com and Informix announced today, in a joint press release, that the three companies have aligned to launch eNET30(TM), a "B2B" commercial payment system. The strategic powerhouse plans to formally launch the eNET30(TM) payment solution during first quarter, 2001. The eNET30(TM) solution provides systems and technology to corporations, trade shows and e-market places which allows them to close B2B industrial size transactions online in a real-time environment. The eNET30(TM) partnership provides for joint marketing, distribution and technology. The GMAC branded eNET30(TM) system will allow e-marketplaces, trades shows and corporations to provide financial services to their customers electronically. The eNET30(TM) system has been market tested through Bill Communications, Inc., a VNU Company (f.k.a Miller Freeman, a.k.a, United Media) which owns and operates 90 trade shows in the United States. "This solution works in a 'bricks to clicks' environment which made it a very appealing solution for us", explains Sam Bundy, Vice President of Bill Communications, Inc. "The adoption rate with the vendors was over 32% in less than 6 months time from the ASD/AMD trade show launch. The eNET30(TM) system is obviously a very desirable B2B payment solution in our arena." "Our initial concept was to provide technology that would allow companies to close online. As we were developing, patenting and testing the eNET30(TM) system, we found that companies needed a B2B payment solution to assure payment on all their receivables and not just transactions that close over the Internet," stated Dr. Ranel Erickson, ProfitScape's Chief Technology Officer and a co-founder of Purchasepro.com. The patent pending eNET30(TM) system is powered by Informix(R) software. "It is a rare opportunity to be a partner in the development of technology that has the potential of actually improving the way we all do business. We are very delighted about being a part of this alliance" states Jamie Arnold, Chief Financial Officer of Informix(R) Corporation. GMAC Financial Services announced their new GMAC B2B Credit division during the second quarter of this year. "We believe the eNET30(TM) system is a perfect vehicle to provide our financial services to B2B exchanges, corporations and tradeshows in a very scalable environment", explains Jay Craig, Chief Financial Officer of GMAC Commercial Finance, "This alliance makes perfect sense to us. Each company has their own area of expertise; ProfitScape and Informix provide the technology backbone and GMAC provides the financial services foundation." ABOUT GMAC GMAC, a wholly owned subsidiary of the General Motors Corporation since 1919, operates under the brand name of GMAC Financial Services. In addition to worldwide automotive financing, its major lines of business include insurance, mortgage and commercial finance. GMAC, which recorded $1.5 billion in earnings in 1999, operates in 40 countries at over 700 facilities. ABOUT PROFITSCAPE.COM ProfitScape's cutting-edge, patent-pending technology enables companies to expand their financial reach. The streamlined eNET30(TM) solution offers businesses large credit lines in a variety of buy/sell environments, including trade shows, Internet exchanges and e-commerce sites. For more information, visit ProfitScape's web site at http://www.profitscape.com. ABOUT INFORMIX Informix Business Solutions, an independent operating business of Informix Corporation , offers an integration suite of database and platform-independent software solutions and infrastructure for integrating content, e-commerce, and analytics that enable customers to succeed in the new economy. For more information, contact the nearest sales office, or see related press release "Informix Establishes Two Independent Operating Companies," Sept. 19, 2000, at Informix' Web site, http://www.informix.com. The following are trademarks of Informix Corporation or its affiliates, one or more of which may be registered in the U.S. or other jurisdictions: Informix(R), Foundation(TM), Informix Dynamic Server(TM), Red Brick(R), Extended Parallel Server(TM), Cloudscape(TM), UniVerse(R), UniData(R).