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Pivotal and Gladwyne Software Surety Announce First Bonded
Guarantee for CRM Projects
Surety bond insures on-time, on-budget
delivery of KPMG projects developed with Pivotal solutions
Vancouver, Canada, December 8,
1999 - Pivotal Corporation (Nasdaq: PVTL), a leading provider of
eBusiness relationship management (eBRM) solutions and Gladwyne Software
Surety (GSS), a leader in information technology (IT) risk management
services, today announced a ground-breaking initiative that provides
a third-party guarantee for KPMG implementations of Pivotal solutions.
As the first-ever insurance-backed IT initiative, this program marks
a turning point in the software industry by establishing true accountability
for IT implementation.
"KPMG, Gladwyne Software Surety
and Pivotal have created the model for bondable IT implementation,"
said Norm Francis, president & CEO of Pivotal Corporation. "The
IT industry must adopt a valid and authoritative method of accountability.
The model we have created will solidly protect the investments of KPMG/Pivotal
customers. Companies can embark on cutting edge eBusiness relationship
management projects with confidence that their investments are fully
protected."
The insurance - called a surety bond
- ensures that KPMG implementations of Pivotal solutions are on time
and on budget. The surety bonds are issued by several leading insurance
companies and are based on the risk mitigation principles used successfully
in the insurance industry for more than a century. Surety bonds are
used in high-value engineering and construction projects to validate
the qualifications of a contractor and insure successful project completion.
Based on its initial application, KPMG and Pivotal have received approval
for a bond-line of up to $50 million to insure approved projects.
According to Emery Kobor, research
director at the World Research Advisory, "As recent high-profile
snafus have demonstrated, companies can lose valuable time, money and
competitive edge when IT projects fail. IT projects are frequently delivered
late or over budget - surety bonds and the independent, disciplined
management of risk are the right solution at the right time to ensure
that technology providers are accountable to customers."
According to Mort Goldman, chairman,
CEO and founder of Gladwyne Software Surety, "KPMG/Pivotal deployments
are bondable because these two companies have a track record that clearly
demonstrates success. KPMG and Pivotal have proven time and time again
that they are able to fulfill customer expectations by delivering projects
according to specification - on time and on budget."
The surety bonds are issued through
the GSS Risk Management Program and provide a high-degree of assurance
for executives making IT purchasing decisions.
"Incorporating a surety bond
with KPMG and Pivotal's solutions builds even further confidence in
our reputations," said Francis. "With the GSS assessment,
third-party bonding and project auditing services, we've set a new industry
standard for ensuring project success."
About Pivotal Corporation
Pivotal Corporation is a global supplier of 360-degree eBusiness relationship
management (eBRM) solutions that enable organizations to increase revenue
by enhancing relationships with customers and business partners, and
conducting personalized online commerce. Pivotal's eBRM solutions fuse
eCommerce, customer relationship management and business portals to
manage sales, marketing, and customer service relationships between
employees, business partners and customers over the Internet and corporate
networks. Pivotal solutions are licensed on either a perpetual basis
or on a monthly subscription through Pivotal's Internet application
hosting services. Pivotal's international distribution channel consists
of direct salespeople, certified value-added resellers, systems integrators,
technology partners and distributors. The company has more than 650
customers worldwide with more than 80,000 licensed users. Customers
include Yahoo! Excite@Home, Bottomline Technologies, Micrografx, Hewlett-Packard
Co., UNOCAL, Inc., Kimberly-Clark Corporation, Intel Corporation, Siemens
Electric Ltd., USG Corporation, Lucent Technologies, Holophane Corporation,
The Principal Financial Group, and Sun Healthcare Group. For more information
about Pivotal, visit www.pivotal.com.
About Gladwyne Software Surety
Gladwyne Software Surety, Inc. is the leading provider of information
technology risk management products and services that maximize corporate
return on investment. The GSS Risk Management Program guarantees the
delivery of customer relationship management (CRM) and enterprise resource
planning (ERP) applications and includes project assessments, third-party
surety bonds, and ongoing project audits. For more information about
Gladwyne Software Surety, visit www.fortera.com.
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