Bell & Howell and insci-statements.com Announce Alliance
Press release from the issuing company
SKOKIE, IL and WESTBOROUGH, MA - Bell & Howell Company (NYSE: BHW) and insci-statements.com, Corp. (Nasdaq: INSI) jointly announced today the signing of a three-year, non-exclusive agreement to form a strategic technology development, support and marketing alliance, which includes sharing by the two companies of sales revenues generated by the alliance. Under the terms of the alliance agreement, Bell & Howell Mail and Messaging Technologies (MMT) will establish an Application Service Provider (ASP) operation to provide its customers with full service, end-to-end, electronic document distribution and long-term document archive capabilities using insci-statements.com’s ESP+ Solutions Suite™ and professional services. The document distribution services provided will focus primarily on Electronic Statement Presentment (ESP) and Electronic Bill Presentment and Payment (EBPP).
This alliance resulted from the two companies successfully transitioning to an ASP-enabling/ revenue sharing business relationship, an earlier agreement between Bell & Howell and insci-statements. com’s recently discontinued ASP subsidiary. The ASP-based services of the new alliance will be part of the Bell & Howell IMPACT eMessaging product offering, which provides companies with speed-to-market for Internet messaging projects because it requires no changes to legacy applications.
The IMPACT eMessaging suite offers powerful Internet billing, statement and notice solutions. Personalized account information can be delivered via a company branded web site, secure e-mail or using the CheckFree® distribution channels. The addition of ESP+ to IMPACT eMessaging solutions enables short- or long-term archiving of Internet documents.
"The new alliance with insci-statements.com is a significant step in the evolution of our e-commerce solutions," said Bill Fay, vice president of Bell & Howell MMT. "To complete our ESP and EBPP offerings, it is essential that we have a top-of-the line, high volume document archiving solution that will efficiently support storage requirements spanning up to seven years. We formed this cooperative alliance with insci-statements.com because we believe it has the technology leadership and the right products today."
Lori R. Frank, insci-statements.com president and CEO, commented, "The alliance with Bell & Howell is an excellent example of the success of our recent efforts to implement our ASP-enabling business strategy with industry leaders and to transition, wherever possible, the relationships of the Company’s former ASP subsidiary to this new business model. Bell & Howell's nationwide sales force of 77, sizeable customer base, prominent position in the traditional mailing market and aggressive entry into e-commerce, when coupled with our technology and expertise, should position both companies with the opportunity to leverage the potential of the expanding ESP and EBPP market."
The business model of the alliance can provide insci-statements.com a new and predictable recurring revenue stream derived from the ASP-based services sales generated by the alliance. Further terms of the agreement were not disclosed.
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