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Subject: EULER ACI SELECTS WEBMETHODS TO DELIVER REAL-TIME CREDIT INSURANCESERVICES TO LEADING B2B EXCHANGES
- From: Erin Del Llano <edelllano@schwartz-pr.com>
- To: Announce@lists.oasis-open.org
- Date: Mon, 21 Aug 2000 14:23:15 -0400
FOR IMMEDIATE RELEASE
Contacts:
Nicole
Keating Lauren
Arnold or Nicole
Cuda Leah
Comas
webMethods,
Inc. Schwartz
Communications,
Inc. EULER
American Credit Indemnity
703-460-5960 781-684-0770 410-554-0634
nkeating@webMethods.com webMethods@schwartz-pr.com
EULER ACI SELECTS WEBMETHODS TO DELIVER REAL-TIME
CREDIT INSURANCE SERVICES TO LEADING B2B EXCHANGES
North America’s Largest Trade Credit Insurer Leverages webMethods
B2B to Add
Value-added Services and Liquidity to Exchanges by Ensuring Buyer Payment
FAIRFAX, Va.August 21,
2000 webMethods, Inc. (Nasdaq: WEBM), the leading provider of
business-to-business integration (B2Bi) solutions, today announced
that EULER American Credit Indemnity (EULER ACI), a member of EULER
(listed on the Paris Stock Market : ELE FP), the world’s premier credit
insurer, has selected webMethods B2B to deliver real-time credit
insurance services to leading B2B exchanges.
EULER ACI already provides credit insurance for billions of
dollars in B2B e-commerce transactions. webMethods B2B enables EULER ACI
to expand its current phone, fax and .html-based services to include a
seamless B2B solution that communicates application-to-application over
the Internet in real-time. This direct, real-time integration between the
Trade Credit Insurer and the exchange (or the seller), allows B2B
exchanges to commit to transactions instantly to provide sellers
guaranteed payment.
“Many of the transactions in
today’s B2B exchanges are anonymous, and simple manual credit checks are
not efficient and do not ensure the seller will receive payment,” said
Doug Brunner, president and chief executive officer of EULER ACI.
“webMethods B2B has enabled EULER to design and develop an easy, flexible
solution to quickly connect its proprietary, server-based systems into
the front-end operations of exchanges. This eliminates many of the
technical challenges that previously limited exchanges from
credit-insuring transactions on a real-time basis and creating the trust
and liquidity needed to be successful.”
EULER and its affiliated companies financially protect more than
35,000 customers worldwide against the damaging consequences of unpaid
domestic and overseas debt. The direct, XML-based
application-to-application connection based on webMethods B2B allows
exchanges to seamlessly communicate with EULER ACI’s information
databases, rapidly identifying and establishing a purchase limit when a
buyer joins an exchange. Each time a buyer and seller agree to a
purchase, the exchange can immediately communicate with EULER ACI’s
systems 24 hours a day, seven days a week to instantly
process the transaction.
“EULER ACI’s direct
integration and real-time transactions enable exchanges to outsource
their credit management and risk, which significantly mitigates one of
the largest risks in B2B trading exchange economics,” said Phillip
Merrick, president and CEO of webMethods. “EULER ACI is another example
of how top service providers are turning to webMethods’ market leadership
and solutions to capitalize on the opportunity to bring a whole new
generation of value-added services to real-time exchanges.”
webMethods provides a comprehensive, end-to-end solution that
allows organizations to effectively realize their B2B e-commerce
strategies both inside and outside enterprise boundaries. Through broad
support of open standards and protocols, such as XML, RosettaNet, ebXML,
FpML, cXML, xCBL, OBI, OAG, ACORD, Microsoft BizTalk and legacy EDI,
webMethods B2Bi solutions provide the critical software
infrastructure that enables companies to form powerful trading networks
with customers, suppliers and partners. With webMethods B2Bi
solutions, companies can conduct business-to-business over the Internet
with minimal stress to corporate resources and existing technology
infrastructure.
About webMethods, Inc.
webMethods, Inc. (Nasdaq:
WEBM) is the leading provider of software solutions for
business-to-business integration (B2Bi). As the only company
providing seamless B2Bi across the Internet and throughout the
extended enterprise, webMethods provides Global 2000 companies and B2B
marketplaces with a complete, end-to-end solution for integrating
customers, suppliers and partners into real-time B2B trading networks,
while also increasing internal operational efficiencies. The webMethods
product family allows companies to create new revenue opportunities,
strengthen relationships with customers, substantially reduce supply
chain inefficiencies and streamline internal business processes.
Founded in 1996, webMethods is based in Fairfax, Va., with offices
across the U.S., Europe and Asia. With an emphasis on key vertical
markets such as chemicals, financial services, high-tech manufacturing
and telecommunications, webMethods has more than 425 customers
worldwide--from Global 2000 leaders such as Citibank, Dell, Eastman
Chemical Company, Fidelity Investments, Grainger, Motorola, Teligent and
Starbucks to major B2B marketplaces like ChemConnect, e-STEEL and Ventro.
webMethods’ strategic partners include Ariba, Commerce One, Deloitte
Consulting, EDS, i2 Technologies, KPMG, Microsoft, Oracle Corp., SAP AG
and Vantive. More information about the company can be found at
www.webMethods.com.
About EULER and EULER ACI
EULER ACI, North
America’s oldest and largest trade credit insurer, is part of EULER, the
world’s premier credit insurer and Europe’s leading integrated factoring
company. EULER, the number 1 or 2 player in 11 countries, has a 25
percent share of the worldwide credit insurance market, increasing to 40
percent together with its sister-company,
Hermes.
Both EULER and
Hermes are owned by German insurer Allianz, rated AAA by Standard
and Poor’s.
EULER is included in the Dow Jones EURO STOXX and Dow Jones STOXX EUROPE
since June
19th
2000.
EULER recorded consolidated revenue of 1.1 billion euros in 1999.
Net group profits totaled 79.4 million euros, with group shareholders’
equity amounting to 747 million euros. EULER’s credit insurance companies
were all rated AA+ by Standard & Poor’s in 1999, the highest
rating ever given to a credit insurer.
EULER leverages its
underwriting presence in all of the world’s key markets, as well as its
proprietary database on more than 40 million companies, to write the
credit risk capacity B2B e-commerce marketplaces need to build
liquidity. EULER group companies provide coverage on more than 400
billion euros of transactions across 160 countries around the world,
including over 2 billion euros in e-commerce transactions. EULER’s
e-commerce solutions ensure sellers will be paid in the event of credit
default, while at the same time, allow buyers to continue to access the
free trade credit that has traditionally financed their business.
Visit
www.eulergroup.com
and
www.aci.eulergroup.com
for more information about EULER and EULER ACI.
###
webMethods and webMethods B2B are trademarks
of webMethods, Inc. All other company and product names are property of
their respective owners.
This press release contains various remarks about the future
expectations, plans and prospects of webMethods that constitute
forward-looking statements for purposes of the safe harbor provisions
under The Private Securities Litigation Reform Act of 1995. The actual
results of webMethods may differ materially from those indicated by these
forward-looking statements as a result of various important factors,
including those discussed in the Risk Factors section of webMethods'
recent Registration Statement on Form S-4 and the company's annual report
on form 10-K for the year ended March 31, 2000, which is on file with the
Securities and Exchange Commission.
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