News - First ICN Contacts|
The Source Information Management Company Announces the Signing of First Internet ICN Contracts
ST. LOUIS--(BUSINESS WIRE)--Dec. 23, 1998--The Source Information Management Company (NASD:SORC) today announced that it has entered into its first contractual agreements with publishers to participate in Interactive Communications Network (ICN).
The initial publisher clients include Time Distribution Services, Ziff Davis, and Wenner Publications. The Company anticipates additional publisher signings in January, 1999. The Company also intends to introduce ICN to General Merchandise and Confection Vendors early next year.
The secured ICN website allows vendors, retailers, and distributors to communicate interactively and creates the opportunity for publishers to advertise special promotions and new title introductions graphically to retailers and their servicing distributors. Other important usage is the daily revision of chain authorized title lists.
ICN also provides the vehicle through which the Source downloads UPC update information daily on a title by title basis to each individual retail chain. This information is essential to all parties in the distribution network including publishers, distributors and retailers. Utilization of this website expedites the entire information dissemination process and electronically documents all activity.
Initial indications are that retailers currently using the system enter the site an average of 5 to 10 times per day to extract data provided by the Source. Retailers on the system include Kmart, Southland 7-eleven, CVS Drug, A&P (US and Canada), King Soopers, Inc, and many others.
The Company expects to have most retail chains utilizing the ICN website by April 30th, the end of the first fiscal quarter. Retailer usage has created an incentive for vendor participation. Vendors are charged an annual access fee and are billed separately for graphic advertising images and other ICN internet related services.
The Source Information Management Company provides front-end rebate collection and information services to approximately 825 retailers in the United States and Canada via nine offices throughout the continent........
SAFE HARBOR STATEMENT:
The information contained in this release includes statements regarding matters which are not historical facts (including statements regarding the plans, beliefs or expectations of The Source Information Management Company) which are forward-looking statements.....
CONTACT: The Source Information Management Company
W. Brian Rodgers, 314/995-9040