National Bank of Canada and COGNICASE, the founding partners of Clic Commerce, select RightWorks' technology to power new marketplace for commercial clients
Montreal, 20 December 2000 -
National Bank of Canada (TSE : "NA") and COGNICASE (TSE: "COG", NASDAQ: "COGI") announced today that Clic Commerce, the joint enterprise which they started last summer, has acquired a license to the RightWorks Corporation suite of second-generation (2G) e-business as the e-procurement application foundation for its new Clic Commerce B2B Portal. RightWorks is a partner company in the Internet Capital Group(NASDAQ: "ICGE") network. Powered by RightWorks and integrated by COGNICASE, this new offering will enable the bank's clients, businesses and government bodies in Quebec and throughout Canada, to purchase goods and services electronically, while enjoying improved efficiencies and increased discounts from their usual suppliers. Beyond its license sale, RightWorks joins Clic Commerce and its founders in a shared long-term strategic initiative..
The Clic Commerce team will build upon the proven strengths of its partners. The National Bank Group contributes its banking and payment solutions and its strong network of business client relationships. The business process re-engineering, the IT integration and the hosting of the solution will be performed by COGNICASE, a major e-commerce solutions provider who becomes an integration partner of RightWorks. RightWorks offers proven technology that powers a large number of marketplaces in North America as well as in Europe, some of them being operated and promoted by major banks.
"The Clic Commerce Portal represents a major milestone in National Bank's delivery of its e-banking and e-commerce strategy towards enabling business clients to grow their businesses through value creating solutions in a new economy framework," said Réal Raymond, president of Personal and Commercial Banking. "The combination of RightWork's experience and proven success in the banking and financial services sector, and the power of its second-generation technology, were key factors in our decision to select RightWorks for our business needs."
Clic Commerce's plan calls for a phased implementation, stage one of which will enable e-procurement and sourcing for National Bank's internal needs. In the second stage in April 2001, Clic Commerce will extend the application to develop a private exchange for the bank's community of commercial clients, offering procurement services as well as emarketplace services such as auctions and automated requests for quotations. National Bank of Canada will ensure the secure financial settlement of electronic transactions and will provide a seamless link to its suite of e-banking services. The projected volume of purchase transactions that will flow through the Clic Commerce B2B Portal is more than $400 million in the first year of operation and is expected to surpass $1 billion after the second year.
Ronald Brisebois, president and chief executive officer of COGNICASE declared that"ClicCommerce is a strategic initiative for COGNICASE. Based on a true many-to-many ASP model, it will accelerate the pace at which the organizations of Quebec and Canada will embrace transactional e-business. The agreement with RightWorks will also be leveraged first in terms of integration of their platform more particularly in the Toronto, Eastern U.S. and Europe marketplaces, and second regarding sub-contracting development work of their software in our Montreal international software engineering development center."
"National Bank and COGNICASE, through Clic Commerce, are among the frontrunners in the banking industry that are launching e-business initiatives to harness the power of the Internet for competitive advantage," said Jeff Carr, president of RightWorks. "In addition to its leading 2G technology, RightWorks brings to Clic Commerce a wealth of expertise in the banking arena, which will not only provide an excellent foundation for successful implementation of the application, but also will contribute to the bank's success in achieving its strategic goals."
About National Bank of Canada
Ranking sixth among Canada's chartered banks, the National Bank (www.nbc.ca) is the leading banking institution in Quebec and the bank of choice for small and medium-sized enterprises. It has branches in every province of the country. Through its representative offices, subsidiaries and alliances, it is also represented in the United States, Europe and elsewhere in the world. Founded in 1859, National Bank of Canada is the product of a series of mergers and acquisitions. It has assets of over 75 billion and, together with its subsidiaries, it employs over 16,600 people. The Bank's head office is in Montreal and its shares are listed on the Toronto stock exchange.
COGNICASE (www.cognicase.com) is an innovative company specialized in the development and integration of e-commerce solutions using the Internet and Wireless technologies. Based on its results-driven approach, software and technologies, as well as its international Internet engineering, ASP applications development and IT hosting center, COGNICASE offers innovative solutions that contribute to the business success of its customers in the digital economy. The Company is active in several countries, including Canada, the United States, France, Spain, Belgium, the Netherlands and Australia.
About Rightworks Corporation
RightWorks Corporation (www.rightworks.com) is a leading provider of second-generation e-business applications. Founded in 1996, RightWorks is a privately held company backed by Internet Capital Group and Sequoia Capital. Headquartered in San Jose, Calif., RightWorks' more than 350 employees are focused on delivering customer value from locations in 10 countries in North America, Asia, and throughout Europe.
With a customer base growing by more than 300% in the last six months, RightWorks' customers include corporations such as CSC, Fujitsu, Industrial America, Juniper Networks, Wells Fargo Bank and others. RightWorks also powers leading e-marketplaces including VerticalNet, Network Commerce, eMerge Interactive, FacilityPro and others.
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