FOR RELEASE FEBRUARY 17, 1999 at 7:30 AM EST
Contact: Kent Broussard (investors) or Hal Morrow, Marketing Director
Owen Daley (media) INSCI Corp
Allen & Caron Inc 508-870-4320
714-957-8440 hmorrow@insci.com
owen@allencaron.com
Sets e-commerce business foundation
with sales to major European financial services, utility
INSCI EXPANDS PRESENCE AND SALES IN EUROPEAN MARKETPLACE
WESTBOROUGH, MA (February 17, 1999) . . . . INSCI Corp (Nasdaq: INSI) today announced that over the last several months, it has sold concluded the sale of new e-commerce-related systems to six customers in The Netherlands, England, France and Switzerland. Of the new accounts, five are banking/financial services institutions and the other a major utility. According to the announcement by INSCI Chairman and CEO Dr. Dr. E. Ted Prince,Ph.D., each of the new system installations provides an e-commerce migration path for transaction documents such as statements, invoices and printed reports. The new sales were made through INSCI resellers in Europe, including Unisys, Swets Micro Store and Geneva Digital. The majority of the installations were for INSCI’s suite of new products, which include COINSERVÔ for WindowsÒ NT for WindowsÒ NT digital document repository with WebCOINSÔ , an extension for remote access, management and distribution of statements, contracts, invoices and reports via the Internet.
The combination of the COINSERV high-volume digital repository and WebCOINS Internet access and delivery establishes a digital document and transaction record foundation for future e-commerce applications. A number of the new accounts also have future requirements for COINscanÔ document imaging and COINSflowÔ workflow management. INSCI’s COINSERV for WindowsÒ NT product has been highly rated by many industry consultant groups and was recently named a Product of the Year by Imaging and Document Solutions magazine.
Prince said, "With the Euro and European integration now a reality, we are expanding our European market sales and support efforts to take advantage of these momentous changes. The latest sales are a clear indicator of our growing acceptance in this rapidly expanding new market.
"We have exceptionally strong partner relationships with a number of sales and systems integration organizations in Europe, with whom the majority of our recent sales have been developed," he said. "Among these are Geneva Digital, a leading supplier of high-end document automation solutions in the UK; Swets Micro Store, a division of Swets & Zeitlinger BV based in the Netherlands, which has been a systems integrator of COINSERV and related INSCI products for over eight years; and Unisys Corporation. We are continuing to see very good sales there and believe that INSCI is well positioned to grow its account base throughout Europe."
INSCI is a leading provider of digital document repository software and Internet-enabled capabilities that are integral to the rapidly emerging electronic and Internet commerce markets. INSCI’s software stores production volumes of digital documents such as reports, statements, invoices and other types of commercial documents used in electronic and Internet commerce. Once stored, these digital documents can be used in a variety of ways to enable Internet commerce. This includes Web-based viewing of bills and statements by customers, as well as use by customer service, finance departments and other corporate areas. INSCI’s software allows these documents to be combined with scanned images and other document types, such as e-mail, so that all related documents can be seen at once in a single view, and then printed and/or distributed as necessary.
INSCI is a registered mark and COINSERV, COINScan and COINSflow are trademarks of INSCI Corp. All other company names or products are registered or trademarks of their respective owners.
For more information about INSCI Corp, visit its home page on the Internet at http://www.insci.com or contact 508-870-4000.
The statements in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including risks associated with uncertainties pertaining to customer orders, demand for products and services, development of markets for the Company’s products and services and other risks identified in the Company’s SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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