 ORDERTRUST REPORTS RECORD INCREASE IN TRAFFIC THROUGH ITS NETWORK FOR 1998
Over 400% Increase in Web-based
Orders
LOWELL, Mass., January 5, 1999 –
OrderTrust, the leading order processing network, today announced record increase in
traffic through its network with over 100 million orders and transactions processed in
1998. Web generated activity represented the largest percentage increase of over 400%. The
company attributes this record growth to its unique ability to process and fulfill orders
from multiple sources including call centers, catalogs and the Web for over 650 merchants
currently utilizing its network. Companies relying on the OrderTrust network include
1-800-FLOWERS, Lycos (NASDAQ: LCOS), Catalog City, Impulse! Buy Network, Inc., and SkyMall
(NASDAQ: SKYM).
"Clearly 1998 was a watershed year for electronic
commerce and Web-based retailing in general," said Jim Daniell, CEO of OrderTrust.
"In 1999, the two key challenges for companies will be customer retention and
loyalty. Our network frees merchants to invest in sales and marketing programs that bring
more customers to them, while we ensure the buying experience is unsurpassed not only for
the customer but for everyone in the value chain including merchants, distributors and
financial institutions."
"Thanks in part to OrderTrust's order
processing support services, we were able to scale and seamlessly process our print
catalog orders as well as purchases from www.skymall.com
and our online affiliates," said Robert M. Worsley, president and chief executive
officer of SkyMall, Inc. "With an increase of over 600 percent in Internet-based
transactions from 1997 levels, our partnership with OrderTrust has proven to be
successful."
The Order Lifecycle Behind the
"Buy Button"
While the consumer’s view of e-commerce may end once
they’ve hit the "buy button," the reality is that the order lifecycle is a
complex process. Analysis of traffic through the network in 1998 indicates that, on
average, each order triggers multiple transactions involving a number of parties. Typical
transactions include checking credit card authorization, routing orders to different
suppliers, status updates from suppliers, and updating consumers on orders. This dictates
that merchants have an infrastructure in place to address the four major workflows
resulting from an order including:
- Ensuring Availability of Inventory – checking to see if
products are in stock and searching for alternate sources.
- Expediting the Order – handling the complex fulfillment
of an order, which can often necessitate the creation of separate fulfillment requests to
a myriad of suppliers.
- Keeping the Consumer Informed – apprising the consumer
of the status of his/her order at all times including the ability to track an order once
it has been shipped.
- Financial Settlement – ensuring that all financial
aspects of each order are completed accurately and securely such as making sure merchants
are compensated and consumer credit card information is authenticated to avoid fraud.
Focusing on Strategy for Customer
Retention and Loyalty
Building upon its ability to manage the order processing
lifecycle, OrderTrust will continue to expand its services in the four categories of
merchandising, order processing, customer management and financial management with
specific focus on the key areas of customer retention and loyalty. As part of the
company’s services roadmap, OrderTrust is driving the development of multidimensional
services that better integrate customer service and link the supply chain more
effectively. This will enable merchants to truly leverage the OrderTrust network to obtain
new levels of profitability and customer intimacy that transform first-time shoppers into
devoted lifetime customers. These services will benefit existing merchants who want to
extend and expand their retail or catalog business on the Web as well as Web-based portals
or merchants.
About OrderTrust
OrderTrust, the leading order processing network, privately
held and based in Lowell, MA, provides services that allow merchants to access and support
new sales channels, expand marketing opportunities and develop relationships with
strategic vendors. Founded by Tim Litle who previously founded two of the leading payment
processing companies, OrderTrust operates a fully redundant 7x24 network operations center
with complete failover capabilities.
OrderTrust is a trademark of
OrderTrust LLC.
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Contact:
Don Jennings
Lois Paul & Partners
781-238-5756
[email protected] |