|Moderated By: TLindt -- (Not Moderated) -- Started: 1/6/1999 12:03:00 PM Revision History|
Wednesday January 6, 8:17 am Eastern Time
Company Press Release
billserv.com Begins Operations, Appoints CFO and Signs First Internet Billing Customer
SAN ANTONIO--(BUSINESS WIRE)--Jan. 6, 1999--billserv.com Inc. (OTC BB:BLLS - news), a consolidator of Internet billing clearinghouse services, began operations in November 1998.
By virtue of a reverse merger with a company quoted on the Nasdaq OTC Bulletin Board, billserv.com began trading on Dec. 3, 1998, under the symbol ''BLLS.''
Established in July 1998, billserv.com is a consolidator in the Electronic Bill Presentment and Payment (EBPP) Industry. EBPP is a process of presenting a bill in a secure environment on the Internet and allowing the customer to pay the bill through electronic transfer of funds. Market projections indicate that consumers will view and pay over 1 billion bills through EBPP by the year 2001, increasing to more than 8 billion by 2007.
The management at billserv.com includes Michael R. Long, chairman and chief executive officer; Louis A. Hoch, director, president and chief operating officer; and David S. Jones, director and senior vice president.
Michael R. Long has 29 years of senior executive management and systems development experience in six publicly traded companies, including U.S. Long Distance (now owned by Qwest Communications International (NASDAQ:QWST - news)) and Billing Concepts (NASDAQ:BILL - news). Most recently, Long served as a director of business development in the financial services sector for Andersen Consulting.
Louis A. Hoch has more than 12 years management experience in large systems development, and is nationally recognized as an expert in Call Center/Voice System/Computer Telephony Integration. Hoch has held positions with U.S. Long Distance, Billing Concepts and Andersen Consulting.
David S. Jones has taken an active role in the electronic billing industry since its inception, defining the strategic direction of an electronic billing product for an industry leader in billing for telecom companies. Jones previously held an Internet engineering position with Billing Concepts.
billserv.com has four projected revenue streams: eServe (Internet billing clearinghouse services), ePublishing (electronic publishing), eCare (Internet-enabled customer care center) and eConsulting (professional services).
billserv.com targets small-to-medium volume billers, such as utilities, credit card companies, financial services enterprises and large ''print-house'' service companies that require assistance into entry of EBPP for their customers' conversion to EBPP.
The company expects to have its systems operational in March 1999.
billserv.com today also announced the appointment of Lori Turner as its chief financial officer. Turner formerly served as the CFO of Docucon, an electronic imaging company headquartered in San Antonio. Turner will be principally responsible for the financial decisions of the company.
Michael R. Long, chairman and CEO of billserv.com, stated, ''We are very excited about Ms. Turner joining our company. She brings a great deal of experience in working with high-tech companies such as ours in areas that cover mergers and acquisitions, SEC filings, investor relations, strategic planning, financial reporting and budgeting.''
billserv.com today also announced that it has signed an exclusive three-year agreement with Holmes & Shaw Inc. to provide Internet billing services to its customer base. Holmes & Shaw Inc. is a 30-year-old privately held company based in San Antonio, that provides state-of-the-art print, mail and fulfillment services to its customer base. Through its ability to serve customers on a national basis, Holmes & Shaw Inc. currently generates approximately 3.5 million pages of print mail per month.
George V. Shaw III, vice president of Holmes & Shaw Inc., stated, ''We are impressed with billserv.com's ability to deliver electronic billing presentment and payment services to our customers. We are convinced that billserv.com is a company that will deliver a totally paperless billing solution and we look forward to developing a long-lasting relationship that is built upon trust and hard work.''
Long stated, ''The Holmes & Shaw Inc. alignment as a business partner with billserv.com provides a compelling value proposition to their customers by easing their entry into the EBPP marketplace. Holmes and Shaw Inc. is also fully aligned with the billserv.com philosophy of attracting outstanding people, delivering the highest quality products and unequalled service. We believe this partnering will serve our customers well by providing them with full-service billing functions for electronic capability as well as traditional print and mail.''
Certain statements contained herein are ''forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
billserv.com, San Antonio
Robert Smith, 888/559-4184
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