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PeopleSoft enables global B2B e-commerce for Credit Suisse First Boston

Global financial powerhouse expects to save $31 million in procurement costs over three years
Issued by PeopleSoft
Johannesburg, 12 Sep 2000

US-based Credit Suisse First Boston is one of the first companies to conduct business-to-business (B2B) eCommerce transactions across multiple market sites on the Global Trading Web.

This is the word from Jan Coetzee, MD of PeopleSoft South Africa, who explains that Credit Suisse First Boston`s global B2B trading capabilities were enabled by PeopleSoft MarketPlace, an open eCommerce trading platform which provides access to the Commerce One MarketSite in the U.S. and the BT MarketSite, provided by Ignite Application Services in the U.K.

"Credit Suisse First Boston leveraged PeopleSoft eProcurement to connect to PeopleSoft MarketPlace as part of an overall effort to cut costs while increasing operational efficiencies. The company expects to save $31 million over three years," says Coetzee.

"The interoperability provided by the PeopleSoft and Commerce One relationship enables us to take full advantage of a wide range of global suppliers," adds Vince DeMarco, a director in Credit Suisse First Boston`s Information Technology division.

Adhering to an aggressive rollout plan, Credit Suisse First Boston provided access to PeopleSoft eProcurement to employees in London and New York in July this year. The implementation team, led by PriceWaterhouse Coopers, with technical and product expertise from PeopleSoft Consulting, plans to roll out the solution to 500 employees by the end of this year. That number is expected to eventually increase to 7000.

"Credit Suisse First Boston`s success underscores our leadership role in B2B eCommerce," comments Coetzee. "PeopleSoft has the open platform, pure internet applications, and consulting resources to deliver on the promise of interoperability and a global infrastructure for B2B eCommerce."

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Credit Suisse First Boston

Credit Suisse First Boston (CSFB) is a leading global investment banking firm, providing comprehensive financial advisory, capital-raising, sales and trading, and financial products for users and suppliers of capital around the world. With headquarters in New York and London, it operates in over 57 offices across more than 37 countries and six continents, and has over 15,000 staff.

Ignite

Ignite is BT`s new international broadband IP business focused on corporate and wholesale markets in the UK and Continental Europe, and through AT&T and Concert, worldwide. It has the largest broadband network in Europe and plans to invest around lb4 billion over the next three years to expand its backbone network and web hosting and application service provider (ASP) capabilities. This investment also supports its strategy to provide city fibre rings, xDSL and wireless local loop broadband access across Europe. Ignite also includes BT`s international solutions businesses, Syntegra and Syncordia Solutions.

Ignite businesses include both wholly owned operations and joint venture partnerships: Inmarsat; Eutelsat; Intelsat; Impsat; New Skies; Esat / Ocean; Mahindra BT; Albacom; BT Telecomunicaciones; AT&T Holdings Canada; Sunrise; Telenordia; BT Belgium; Clear; Commerce One; VerticalNet; I.NET; Al Saudia; Vio; Bharti-BT; The Fantastic Corporation.

PeopleSoft

PeopleSoft is a leading provider of eBusiness applications that enable customers, employees and suppliers to `people` power the Internet. PeopleSoft`s pure Internet Customer Relationship Management, Supply Chain Management and Enterprise Management solutions provide the industry`s most open and flexible e-commerce platform. PeopleSoft employs more than 8,000 people worldwide, including 2,400 eBusiness consultants. More than 4,500 organisations in 107 countries run on PeopleSoft eBusiness applications. www.peoplesoft.com