Accenture Technology Ventures Makes Equity Investment in Yantra
NEW YORK, NY and ACTON, MA -- November 28, 2000 -- Accenture and Yantra Corporation today announced a broad strategic alliance to provide supply chain solutions through PureEcommerce™, a fully Web- enabled application that manages, tracks and executes complex customer transactions across a company’s extended supply chain. Accenture is a leading global management and technology consultancy. Yantra Corporation is a leading provider of e-business software solutions for supply chain transaction management across the extended enterprise.
The three-year, worldwide alliance combines Accenture’s leadership in supply chain strategy, management and implementation services with Yantra’s application software and technology. It is anticipated that this relationship will deliver comprehensive supply chain transaction management solutions and business benefits to complex global enterprises. Further, Accenture Technology Ventures, the venture capital unit of Accenture, has taken an equity stake in Yantra.
Despite the many promises of e-business, most large companies have yet to capitalize on the real opportunities for increased revenues, responsiveness and operational efficiencies. Increasingly, companies are realizing the critical role their supply chains play in achieving these benefits, but their existing systems are inadequate.
With e-business dramatically increasing the complexity of global supply chain networks, products and customer requirements, companies must manage an extended network of partners such as exchange market makers, outsourced manufacturers and third party logistics partners to deliver customer satisfaction. Integrating this network is critical to effective execution of planning, procurement, manufacturing and fulfillment transactions across the extended enterprise.
Together, Accenture and Yantra will target their solutions to Global 2000 and Internet market maker companies in electronics, high technology, retail, transportation, and manufacturing based industries. Yantra will also install its applications at Accenture Supply Chain Solution Centers and Business Launch Centers globally, enabling rapid development and deployment of configured business solutions.
Specifically, Accenture and Yantra will market and deliver technology solutions to help businesses manage customer order transactions across complex, multi- channel, multi-partner enterprises. Together, the companies will deliver an infrastructure that provides rapid order visibility throughout the entire order lifecycle, across multiple business units, distribution channels and trading partners. The solution is designed to leverage, enhance and integrate with CRM systems, planning technologies and procurement models to leverage those capabilities and maximize the investments made in those technologies.
"Our clients are demanding supply chain solutions that simplify the complexity of multi-partner enterprises," said Dave Anderson, Partner, Accenture. "By combining Yantra’s leading technology solutions, with our cross industry experience, supply chain integration skills and strong client relationships, we will help businesses realize the full potential of their extended enterprises to maximize their operational performance. Ultimately, the solutions we will offer through our relationship with Yantra will enhance our ability to help companies compete effectively in the new economy."
"Accenture’s leadership in e-supply chain integration, combined with Yantra’s expertise in complex customer transaction management solutions, provides best in class capabilities to Global 2000 and emerging internet businesses," said John Kiley, President and COO of Yantra Corporation. "This alliance gives companies proven capabilities to increase their speed-to-market and differentiate themselves with their customers."
PureEcommerce is the supply chain transaction management engine that enables collaboration, information integration and execution across the extended enterprise of trading partners. Designed specifically for e- business, PureEcommerce provides end-to-end execution management and visibility throughout the entire order lifecycle, from buy to supply through reverse logistics. For example, PureEcommerce can aggregate supply chain information to support customer service, provide rules-based exception management and support multiple enterprises within a single order management system. It allows companies to manage all customer transactions on a single platform.
Yantra is a leading provider of Web-based customer transaction management solutions for the extraprise. Yantra’s expertise in developing supply chain management solutions for manufacturing, retail, and net marketplace business models enables the company to provide comprehensive solutions to the e-business challenges facing companies today.
Yantra’s PureEcommerce enables flawless execution of customer transactions across the extended enterprise and ensures a superior, value-added buyer and seller experience. Yantra has implemented the PureEcommerce solution with leading Fortune 500 companies, B2B e- Businesses, e-Retailers, and Net Marketplaces, such as Honeywell, Motorola, Texas Instruments, VerticalNet, SciQuest.com, Marex.com, Purchasing Center, and Chempoint.com. Founded in 1995, Yantra Corporation is privately held and based in Acton, Massachusetts.