RealTime IT News

Bank of America, BroadVision Form Intranet Firm

Bank of America Monday teamed with BroadVision Inc. to form an intranet firm that will create an online portal offering goods and services to workers over corporate networks.

Though financial terms were not disclosed, Bank of America and BroadVision will be the primary initial investors in the company. Other alliance members include Hewlett-Packard Co. and Amadeus Global Travel Distribution.

Built with BroadVision's technology, the portal will provide employees of subscriber companies with access to tools and information, including workplace communications, training, benefits, financial services, travel services, industry news, stock quotes and electronic commerce.

Bank of America will be the primary provider of banking and financial services offered, creating a new distribution channel and revenue opportunity for the bank. BroadVision will license its One-To-One suite of applications to the new company, and supply maintenance and support services.

The BroadVision technology was developed with HP and is initially available on the HP-UX platform. HP will be the primary supplier of IT infrastructure products and services for the new company and its clients. Travel provider Amadeus will offer corporate travel procurement applications with self-service travel options, including online booking and ticketing.

With 156,000 associates, Bank of America will provide its domain space knowledge as one of the nation's largest private employers to help build human resources and employee benefits modules for the employee portal solution.

According to James D. Dixon, bankofamerica.com executive, Bank of America plans to be the first subscriber company to implement the employee portal solution for use by its associates.

"This investment and our commitment to implement the B2E portal solution for our own associates reflects our desire to redefine the employer-employee relationship."

The portal will later be made available to employees of the other alliance members, as well as employees of other companies that subscribe to this service.

Bank of America and BroadVision anticipate that the new company will begin operations later this year, but a potential name for the company has not been tendered. The firms' decision to form an entire company devoted to the delivery of complete corporate intranets is a reflection of the growing importance of solutions for the enterprise sector.

Studies completed by career resource sites such as JobTrack.com and WetFeet.com have found that job prospects list quality of life as one of the important factors in determining what company to work for. Studies have concluded that intranets and other corporate portals weigh in as decisive factors for job candidates.