FiNetrics and IBM Swap Favors for Small Business Market

Financial business service provider FiNetrics Inc. announced a global agreement with IBM (NYSE: IBM) to jointly market and deliver FiNetrics’ AccountingSource worldwide.

FiNetrics’ AccountingSource is the first comprehensive financial services solution for emerging and medium-sized businesses that integrates a Internet accounting application with financial outsourcing services powered by Arthur Andersen.

The joint relationship is part of IBM’s Service Providers for e-Business initiative, which helps over 70 business partners leverage IBM’s marketing, sales and education programs as they deliver fast and flexible e-Business services based on IBM solutions.

With this agreement, FiNetrics will provide training and sales support to IBM’s global sales and marketing teams to extend FiNetrics’ reach into the small- to mid-sized business (SMB) market.

Additionally, the agreement will allow FiNetrics to establish a presence on IBM’s SMB websites, and jointly market the FiNetrics and IBM solutions through a variety of promotional vehicles including direct marketing, advertising, web seminars, and customer events.

“As the e-business solutions leader, IBM has established relationships with the fast-growing companies that would most benefit from FiNetrics AccountingSource,” said Ken Mueller, CEO of FiNetrics. “FiNetrics provides these companies with anytime, anywhere access to an easy-to-use hosted accounting application that, because it’s based on leading enterprise software, will scale with their future growth.”

The Service Providers for e-Business Initiative is part of IBM PartnerWorld, a marketing and enablement program designed to create new marketing opportunities for 90,000 IBM Business Partners, and provide customers with e-business solutions including products, services, technologies and marketing.

“Like IBM’s e-business solutions, FiNetrics empowers small- and medium-sized businesses by providing them access to enterprise-class solutions,” said Jim Corgel, general manager, IBM Global Net Generation Business. “Together, IBM and FiNetrics have staked out a leading position in delivering an affordable, scalable world-class finance and accounting solutions to enable these companies to thrive now and as they grow.”

This agreement is one of several that FiNetrics has assembled recently to build its brand and extend its marketing reach. Others include:

— Entered into a worldwide co-marketing agreement with Arthur Andersen, which provides business process outsourcing, contract personnel, and tax support for FiNetrics AccountingSource;

— Selected as one of 20 international companies to participate in the Microsoft pre-release program for BizTalk, as an enterprise application integration;

— In tandem with Ariba, a worldwide leader in Internet purchasing, FiNetrics has been retained to deliver an enterprise class purchasing solution to the small- to medium-sized enterprises (SME) market and has developed a simplified web-enabled front end for the Ariba marketplace;

— Signed an agreement with the Illinois CPA Association to assist them in enhancing their clients’ accounting information systems through a scalable enterprise resource planning (ERP) solution based on;

— Announced its first private label partnership, under which FiNetrics will integrate its OutNumber Internet accounting application into eReliable’s Secured Dynamic Trading Network, creating a fully integrated web marketplace and financial solution that will allow eReliable clients to seamlessly record online transactions; and

— Entered into an agreement with Buyer Zone, the leading provider of purchasing tools and advice for SMEs. As part of this agreement, FiNetrics will be featured on Buyer Zone’s full service portal.

See related profile, FiNetrics Offers Live Online Accounting Services, Nov 11th 2000.

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