AXS-One Inc, a leading global provider of e-business solutions, today announced that American International Technology, Enterprises, Inc. (AITE), a member company of American International Group, Inc. (AIG), will integrate AXS-One`s software with AITE`s insurance software products. AITE will employ an ASP model to provide the AXS-One-AITE offering - both coupled and individually - to small to mid-size enterprises.
With this agreement, the two companies will enjoy a significant combined competitive advantage. AITE joins its deep insurance industry expertise with AXS-One`s proven experience, enabling quick and intelligent knowledge exchange and business transactions via the Internet. AITE will be positioned to implement AXS-One software along with AITE`s other ASP offerings on a subscription basis.
As companies subscribing to the ASP utilisation model mature, their requirement for more services grows, and ERP is "the next level`` of supporting back-office functionality at companies` growing stages. AITE and AXS-One are early adopters of integrating offerings at this level in an ASP model. "Our solutions are particularly appropriate to the current market demanding rental applications, as we don`t require either significant time to integrate or major reinvestment in infrastructure,`` said John Rade, President and CEO of AXS-One. "We are pleased that AITE chose AXS-One solutions to help expand its offering to the insurance industry, and we are excited by the growth possibilities that this relationship represents.``
AITE and AXS-One offer companies the ability to engage in business transactions with their customers, and accurately record such transactions - all in a secure and scalable environment that is fully integrated with existing business processes. AXS-One software will be available via AITE in the 4th quarter 2000.
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American International Technology Enterprises, Inc. (AITE)
AITE is a member company of American International Group, Inc. (AIG), the leading U.S.-based international insurance organisation and the largest underwriter of commercial and industrial insurance in the United States. AITE is a leader in providing solutions to complex technological problems with experts who install, maintain and support the most advanced systems worldwide. More information about AITE and its services can be found on the World Wide Web at http://aite.aig.com.
American International Group, Inc. (AIG)
AIG is the leading U.S.-based international insurance and financial services organisation and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial and personal insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG`s global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. AIG`s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
AXS-One, Inc.
AXS-One, Inc. (AMEX: AXO) provides e-Cellerator solutions that quickly transforms customers, suppliers and partners into highly valuable, collaborative e-Business networks. AXS-One has implemented high-volume, scalable and secure business solutions for hundreds of customers across the globe. AXS-One`s revenues are derived from license fees and services. AXS-One has approximately $60 million in revenues, two-thirds of which come from its e-Cellerator Internet solutions. AXS-One has over 300 employees in offices worldwide, including Asia, Australia, Canada, Europe, Eastern Europe, Poland, South Africa UK and USA. AXS-One was founded in 1978, and is based in Rutherford, New Jersey. For further information on AXS-One, and its products, customers, and services, visit the AXS-One web site at http://www.axs-one.com.