J.D. Edwards & Company (NASDAQ: JDEC), a leading provider of agile e-business solutions, and Extensity, a provider of Internet-based workforce optimization solutions, today announced that the two companies have entered into a global agreement under which J.D. Edwards will resell Extensity’s automated travel and expense reporting software, which is designed to improve employee productivity and operational efficiency. In addition to the strategic reseller agreement, J.D. Edwards has also made an equity investment in Extensity, the terms of which were not disclosed.
“The combination of Extensity and J.D. Edwards is a very strategic partnership providing significant value to their customers and prospects, ” said Brian McDonough, ERM Applications Analyst at International Data Corporation. “Companies can expect a quick return-on-investment, as well as improved business processes through the concrete work J.D. Edwards is doing to create an end-to-end e-business solution.”
Integrated with J.D. Edwards’ financial, human resources, payroll, contract and service billing, and activity based management applications, Extensity Travel Plans and Extensity Expense Reports are designed to simplify the process of planning and expensing business travel. By eliminating the need for manual processing, Extensity frees employees from time-consuming paper-based processes while allowing companies to gather benchmarking data for statistical analysis and to deploy finance department resources more strategically. Coupled with J.D. Edwards’ enterprise foundation and active knowledge management applications, customers can mine data for strategic decision-making. By taking advantage of the joint J.D. Edwards/Extensity solution, customers can easily change business policies and processes to proactively control spending and optimize performance.
According to AMEX Consulting Services, automated solutions such as Extensity’s are found to cut the cost of processing a single expense report from US$36 to as little as US$8, while shortening the cycle time from 21 to as few as three days. As a result, employees get reimbursed more quickly and corporations significantly reduce operating costs.
“Extensity’s solutions are a significant value-add for our customers, helping them reduce operating costs and extend their virtual enterprise. We feel that Extensity provides the most flexible architecture and extensive e-business capabilities in the market today; their international focus is a good fit with J.D. Edwards’ goal to be an worldwide provider of end-to-end e-business solutions,” said Doug Massingill, president and CEO at J.D. Edwards. “The joint J.D. Edwards/Extensity offering will provide our customers with superior tools to trim expenses, to respond quickly to market changes and ultimately to improve their bottom line.”
“J.D. Edwards understands how to meet the needs of companies whose business is undergoing rapid change. They have a highly effective sales force trained for the e-business market that understands how to sell enterprise software to chief executives, IT executives and end users. This will help open up tremendous new sales channels for our software, as it complements our focus on delivering the best T&E solutions to companies worldwide.” said Bob Spinner, president and CEO of Extensity. “We are pleased to be part of their initiatives in delivering Internet-based solutions that improve the way companies across the globe do business.”
Today’s announcement marks the fourth reseller agreement J.D. Edwards has made as part of the company’s larger strategy to provide its 5,500 customers worldwide with the one of the most functional and flexible e-business solutions available. For Extensity, this announcement represents a strong opportunity to penetrate the mid-market.
Extensity Application Suite
Extensity provides highly functional and easy-to-use expense reporting, travel management, procurement and billable time management applications, as well as value-added business services and content within the context of the application suite. As a result, Extensity’s applications are able to mirror the way employees complete a task, rather than forcing a change in behavior and placing additional burden on the employee. For example, an employee can use Extensity’s offering to plan, book, and expense a business trip, including finding the appropriate restaurant for entertaining a client, looking up the average price for a hotel room in a particular city, and receiving automatic currency conversion when traveling abroad - all from one integrated environment that can be accessed online or offline.
Extensity provides Internet-based workforce optimization solutions designed to improve the productivity of employees across the enterprise and to enhance operating efficiency. Extensity’s solutions transform the way companies do business by automating routine and time consuming administrative tasks including management of: travel and expense, procurement and billable time so that employees can focus on higher-value core business activities. As a result, enterprise organizations are able to realize a rapid return on investment. Extensity has over 250,000 seats licensed worldwide to 70 customers, including our top 14 customers based on contract value: AirTouch, BEA Systems, Cendant Business Services, Cisco Systems, Clarify, Documentum, Gelco Information Network, Genesys Telecommunications, Home Box Office, Sybase, TransCanada PipeLines and the University of California. For more information on Extensity, go to www.extensity.com.
About J.D. Edwards
J.D. Edwards provides Idea to ActionTM software for managing the virtual enterprise and supply chain. The Company’s integrated applications deliver agile E-Business solutions that give customers control over their front office, manufacturing, supply chain, logistics/distribution, human resources and finance processes for the consumer products, industrial and services industries. J.D. Edwards enables Idea to Action with ActivEraTM, a collection of tools and technologies that extend J.D. Edwards’ OneWorld TM and WorldSoftware TM enterprise business software and its active supply chain planning solutions. ActivEra allows customers to change their software quickly and easily during and after implementation. The Company’s solutions operate in multiple computing environments, including Windows NT(r), UNIX(r) and OS/400(r), and are JavaTM and HTML enabled.
Founded in 1977, J.D. Edwards is headquartered in Denver and posted fiscal 1999 revenues of $944.2 million. Additional information can be obtained by contacting the Company at 1-800-727-5333, or via the Internet at www.jdedwards.com.