February 20, 2003 - Carlsbad, CA - NexPrise, Inc., a leading source for business process applications, today announced that Iomega Corporation, a global leader in portable data storage, has selected NexPrise to deliver a Contracts Manager software application that will serve as Iomega's global system for managing supplier and customer contracts. Based on the NexPrise nProcess Platform, a suite of tools that accelerates business process application development, a production-ready Contracts Manager application was deployed within just two weeks.
"We are very impressed at the speed with which the NexPrise nProcess Platform produced a business process application tailored to Iomega's needs and requirements, which our contracts team could begin using almost immediately," said Ed Lundeen, director of contracts management for Iomega. "The NexPrise solution also allows us the flexibility to meet real-time business demands without a lot of re-tooling and customization. This is a huge advantage."
Iomega is a recognized company in the global high-tech storage industry - most notably for its award-winning Zip® drive solutions as well as its network attached storage products. Iomega recently evolved its business model to focus on R&D and marketing, while wholly outsourcing the design and manufacture of its innovative products to global suppliers. With hundreds of supplier and customer relationships around the world, Iomega needed a flexible, Web-based system for managing global contracts, tracking key action dates, improving contract consistency and compliance, and reducing administrative expenses.
After considering in-house development and packaged software options - both of which proved too costly and time- and labor-intensive - Iomega selected NexPrise. Iomega indicated that the key reasons for choosing NexPrise to deliver the Contracts Manager application included:
The flexibility of the nProcess Platform, which can mimic real-world business processes and translate them into adaptable Web-based business process applications. The speed with which NexPrise could deliver a cost effective, working solution. The ease of use, friendliness of the application and, features of the administrator modules. The features of an audit-able electronic footprint featuring workflow, routing and approvals.
With the goal of achieving a rapid return on investment (ROI), NexPrise collaborated with Iomega to identify and map out its contracts management process
* considering everything from user roles to reporting procedures, lead times, and improved data entry
* in order to create a system that end-users could begin using immediately, with minimal training.
The resulting application enables Iomega's contracts managers, remote salespeople and administrators to use the same, centralized system for creating, storing, managing and updating contracts, as well as capturing vital information about each contract. Iomega management now has a robust tool to assist it in evaluating contracts and ensuring consistent terms.
The Contracts Manager application being deployed at Iomega features Web-based templates from which users easily create sales agreements, purchasing and services agreements, NDAs, RFx documents, and statements of work, as well as an alerting system that flags upcoming contract expiration dates. Users can access the various features based on their unique roles within Iomega's global contracts team.
"We're excited to collaborate with Iomega in creating the new Contracts Manager application and have added a generic version to our library of more than 30 business process automation applications," said Ted Drysdale, President and CEO of NexPrise. "Contracts Manager demonstrates the strength of our NexPrise nProcess Platform both in developing new applications and tailoring off-the-shelf packages to support individual companies' distinct business processes."
nProcess Platform Allows for Building Block Approach to Business Process Automation
One of the unique advantages of the NexPrise nProcess Platform is the availability of an application library that automates many common manufacturing business processes and can be layered like business process building blocks. For example, the new Contracts Manager application can work seamlessly with NexPrise's Quote Manager, which streamlines the supplier bidding and selection processes before a contract is awarded. This incremental approach is especially effective in delivering on corporate mandates to demonstrate rapid ROI before committing to larger-scale implementations.