| [August 16, 2005] |
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Austin-Tetra Makes Supplier Diversity Program Management Easier for Large Companies, Thanks to New Partnership with Software Firm; Technology Simplifies Registering, Sourcing and Tracking Expenditures with Diversity Suppliers
IRVING, Texas --(Business Wire)-- Aug. 16, 2005 -- Meeting supplier diversity goals just got easier for large companies and public entities, which until now have struggled to find, qualify and track minority and women suppliers.
A new partnership between Austin-Tetra and AECsoft USA has melded the market's best data on minority- and women-owned businesses with the most advanced tracking and reporting technologies. Using this combined solution, companies will have groundbreaking tools to support their supplier diversity program initiatives.
Minority- and women-owned business enterprises (MWBEs) are among the fastest-growing segments of the U.S. economy. Minority-owned businesses generate an estimated $495 billion in annual revenue and employ nearly 4 million workers, while women-owned firms employ about 19 million people and generate $2.5 trillion in annual sales. Major corporations as well as large institutions and public agencies throughout the U.S. have made it a priority to tap these burgeoning businesses and create a diverse base of suppliers.
Until now, those entities with supplier diversity initiatives used separate solutions to first find and then manage relationships with diverse suppliers. The result was wasted time and resources.
With the new partnership, AECsoft USA -- a certified minority- and women-owned business -- will act as a licensed reseller of Austin-Tetra's proprietary data content for certified and certifiable MWBE suppliers, as well as overall suppliers. In addition, Austin-Tetra will use AECsoft's technology to enhance its service offerings.
"We are committed to helping our clients more effectively manage their supplier diversity programs and expand their spending with MWBEs," said Phil Berkebile, Jr., president and chief executive officer of Austin-Tetra. "We are proud to partner with a diversity-owned company to accomplish these goals. What's more, by integrating the capabilities of AECsoft's software with our extensive data, we can offer the preeminent supplier diversity management solution in the market."
Austin-Tetra's data content will be integrated into AECsoft's web-based solution offerings for diversity supplier registration, diversity supplier sourcing, and first- and second-tier supplier expenditure tracking and reporting. A variety of pre-packaged solutions in a broad array of price points will be jointly marketed to the more than 1,200 corporations currently operating supplier diversity programs in the U.S.
"We are pleased to have Austin-Tetra as a partner," said Tom Y. Ren, co-founder and chairman of AECsoft USA. "Their experience and well-deserved reputation for high-quality data content and services can help us significantly increase our market share in the rapidly evolving supplier diversity program management market. This partnership will allow us to enhance our current product offerings and better meet our customers' growing requirements. Those companies taking advantage of the combined capabilities of Austin-Tetra and AECsoft for their supplier diversity initiatives will have a greatly enhanced probability for success."
About Austin-Tetra, Inc.
With headquarters in Irving, Texas, Austin-Tetra has been a leader in global data management since 1993. The company offers some of the most comprehensive content-based management solutions in the market. Austin-Tetra sells its services to the largest companies in the world addressing the data requirements of global supplier management, strategic sourcing and customer relationship management. Austin-Tetra's coverage includes more than 50 million global businesses. Its solutions validate, enhance and enrich information on existing suppliers and customers and enable the identification of new ones. The company's services provide customers with enterprise-wide visibility into their trading partner base, enabling thorough analysis to help mitigate business risk, leverage buying power to reduce supply costs and maximize revenue generating opportunities. For more information, visit the company's Web site at www.austintetra.com.
About AECsoft USA, Inc.
Founded in 1997 and headquartered in Houston, AECsoft USA is specialized in Total Supplier Management Solutions with more than 50 corporate and government clients across a variety of industries including: Energy, Gaming & Hospitality, Manufacturing, Food & Beverage, Oil & Gas, Pharmaceutical, Financial, Retail, Food and Beverage, and Public Sector. Their software solutions focus on Supplier Management including 1st and 2nd Tier Supplier Diversity Management and eSourcing. They enable businesses to attain their organizational goals and achieve compliance, while improving supplier visibility and participation. Additionally, AECsoft is providing LCCS (Low Cost Country Sourcing) related solutions. AECsoft USA is a NMSDC certified MBE, WBENC certified WBE, and a SBA certified SDB. For more information, please visit the company's Web site at www.aecsoftusa.com.
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