WALNUT CREEK and MOUNTAIN VIEW, California. September 9, 1998.
Commerce One and Veo Systems, Inc. today announced a strategic partnership to jointly develop business-to-business open trading partner solutions that utilize XML (Extensible Markup Language) technology. The partnership combines the strengths of Commerce One's Internet procurement solutions and Extranet technologies with Veo Systems' expertise in XML development. Together, the two companies will integrate Veo Systems' XML-based technology into the Commerce Chain Solution by Commerce One to create dynamic, self-describing, electronic commerce services that can be leveraged across trading communities. This combined solution offers companies participating in electronic commerce the opportunity to easily conduct business, by enabling the open exchange of catalog content, purchase orders, invoices and other business documents, regardless of the application or data used.
XML is rapidly becoming the universal language for structured data on the Web and is necessary to make data meaningful for Internet commerce. XML will radically improve the exchange of trading partner information and transactions by enabling computers to easily recognize and exchange supplier catalog content and business documents such as purchase orders and invoices. Many believe that XML will enable next generation commerce solutions that offer substantial benefits over EDI; it is easier to deploy, easier to understand, and can be adopted much more rapidly than traditional EDI solutions. XML is an enabler for e-commerce because it offers the ability to publish data once and have it readily available and recognizable by all trading partners. This is more efficient and cost effective than the one to one relationships needed in the EDI world and allows for open trading communities.
By incorporating Veo's XML-based technology into the Commerce Chain Solution, companies will be provided with an open, reusable mechanism to easily communicate with their trading partners regarding product inventory, catalog content, pricing and purchase order status. In addition, it will streamline corporate procurement by simplifying and reducing integration costs, making real-time services such as inventory tracking, demand forecasting and open sourcing to determine best pricing possible.
In a recent Market Viewpoint report ('Internet Procurement Automation: Separating the EC Wheat from the Chaff', March 15, 1998), AberdeenGroup identified the following critical success factor: "The winners in the Internet procurement market will be organizations who... effectively master the challenge of managing complex supplier trading networks - including development of catalog content and the integration with external trading partner systems." The partnership between Commerce One and Veo Systems promises to address these challenges by streamlining trading partner integration, providing a shareable resource in catalog content and integrating buyers and suppliers together into a dynamic trading community.
"We view XML as the critical technology to drive the next phase in e-commerce systems: enabling businesses to share information and transact with one another in a highly scalable, effective manner," commented Mark Hoffman, president and CEO of Commerce One. "Our partnership with Veo Systems represents a significant step forward in our commitment to create open, dynamic trading communities that simplify the procurement process and provide a strategic advantage to companies that participate."
"We applaud Commerce One's unique vision in recognizing the importance of providing customers and their suppliers with a complete end-to-end commerce solution," said Asim Abdullah, president and CEO of Veo Systems. "By enabling computers to exchange data sheets, price lists, purchase orders and other structured business documents, Veo's XML technology will enable the Commerce Chain Solution to seamlessly integrate buyers and sellers into open, real-time, trading partner networks."
About Veo Systems, Inc.
Veo Systems is the leading supplier of products and services to enable open trading partner networks. Using Veo's solutions, companies can significantly lower the economics of business-to-business integration by exchanging information using self-describing XML business documents that both people and computers can readily understand. Veo's world class technology team has core expertise in Internet commerce, XML and distributed systems. Veo Systems is located in Mountain View, Calif. and can be reached at 650-988-7244 or via the Internet at http://www.veosystems.com.
About Commerce One
Commerce One is the global leader in providing web-based, enterprise procurement solutions that dynamically link buying and supplying organizations into real-time trading communities. The Commerce Chain Solution by Commerce One enables companies to significantly reduce operational costs and increase efficiency by automating the entire indirect goods and services supply chain. As a result, enterprise organizations are able to realize a strategic competitive advantage as well as a rapid return on investment. The Commerce Chain Solution includes Commerce One BuySite, which automates the internal procurement process from requisition to order, and Commerce One MarketSite, which automates supplier interactions from order to payment.
Commerce One is located in Walnut Creek, Calif. and can be reached at by phone at (800) 308-3838 or (925) 941-6000 or via the Internet at http://www.commerceone.com.
Commerce One, Commerce Chain, BuySite, and MarketSite are either trademarks or registered trademarks of Commerce One. Other product and company names mentioned herein may be the trademarks of their respective owners.
Veo Systems, Inc.
The Horn Group
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