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SMARTworks.com,
Inc., was created as a wholly owned corporate subsidiary of Standard
Register in June, 2000. Working as an Application Service Provider
(ASP), SMARTworks.com allows companies to manage printed and digital
assets as well as on-line ordering and offers consistent reporting
functions regardless of the print provider.
OUTLOOK:
SMARTworks.com is expected to grow to nearly $10
million in revenues by the end of 2001. SMARTworks' sales approach
involves Channel Partners that act as value added resellers (VAR)
of the SMARTworks system. SMARTworks plans to establish new channel
partner agreements throughout 2001.
With more and more companies relying on the Internet to manage their
processes, the market for SMARTworks services is growing. More than
90% of the respondents in a recent survey by Deloitte Consulting have
either implemented e-procurement solutions (30%) or plan to do so
in the next two years (61%). Another key finding, one that is very
important for SMARTworks.com, is that only 6% of respondents plan
to develop custom solutions. For SMARTworks, this means big opportunities,
and eventually, big revenue.
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Market Trends: |
Goals: |
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e-procurement |
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Print Segment Application Service Provider |
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Integrated Print Management |
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The e-procurement applications market is expected
to grow from $147 million in 1998 to $5.3 billion by 2003 (source:
IDC) |
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The number of users of e-procurement applications
will reach 250 million by 2003, up from 600,000 in 1999 (source:
IDC) |
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Companies believe that using Internet tools for
print procurement will improve their operating margins, on average,
by 22% (source: CAP Ventures Print e-procurement Study) |
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Achieve a profit in the third year of operation
as a subsidiary |
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Build and maintain a leadership position in the
Enterprise Print Management market space |
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