New Chairman envisions AVOLENT's eBilling Solution as the Cornerstone to eBusiness Strategy
SAN FRANCISCO, CA. — July 27th, 2005 — AVOLENT, the leading provider of Interactive eBilling software, today announced the appointment of Mike Seashols as Chairman of the Board. With nearly 30 years of experience as an executive in the technology industry, Seashols brings significant strategic expertise to the AVOLENT team.
Seashols began his career in the technology industry serving for 10 years with IBM before joining Oracle as their first Vice President of Sales/Marketing, reporting directly to Larry Ellison. At Oracle, Seashols was instrumental in establishing the company as the leader in the emerging relational database market with its impressive sales growth and IPO in 1986. Subsequently, he has served CEO and Board roles for a number of successful technology companies, including Versant, Documentum, Evolve Software, GoldenGate, and PostX.
“I have been fortunate in my career to have been a part of several significant new technology and application ‘tipping points’,” states Seashols, “In recent years, I have been exposed to the emerging ‘E-Transaction’ suite of applications – one of the final steps for organizations to complete their transformation to ‘E-Business’. The customer demand for online ordering, eBilling, and ePayment has never been higher. AVOLENT’s strong leadership position enables us to be a significant contributor in delivering the final steps to an organization’s transformation to ‘E-Business’.”
Seashols’ experience at Oracle in growing the relational database business was critical to the birth of many large enterprise application companies, including SAP, PeopleSoft, Siebel, and others. He is no stranger to industry transformation, and how it enables new business models.
eBusiness has become an essential part of every corporate strategy, with e-commerce growing to over $9.2 trillion in 2005 according to IDC. Consumers and business customers alike have embraced the “self-service” interactive capabilities of Internet portals, particularly in the areas of product information, ordering, eBilling and payment, and customer service. Top Internet retailers such as Computer, Amazon.com, Office Depot, and Hewlett-Packard have shown that interactive eBilling is a critical interaction in the eBusiness model, and can be used to cross-sell new products, to drive more orders, and improve customer satisfaction. In addition, interactive eBilling will significantly cut paper and operational costs and optimize cash flow. AVOLENT's interactive eBilling software is used by three of the top five Internet retailers, and processes over $44 billion in invoices annually.
“AVOLENT has mastered the application software technology to enable any size organization to implement their ‘e-transaction’ business model quickly and efficiently,” said Seashols, “Few application software solutions today can address the customer demand for rich functionality in an online self-service interactive model, which improves overall customer service and satisfaction, while simultaneously reducing costs by millions of dollars and optimizing cash flow. In addition, our customers are able to leverage the business analytics and powerful business rules of the AVOLENT eBilling application to assist in their Sarbanes Oxley 404 compliance.”
“We are excited that Mike has joined us as our new Chairman,” said Doug Roberts, CEO. “He brings strong leadership, tremendous strategic perspective, and well placed industry contacts to the company. Mike will help us further advance AVOLENT’s strong position in the Interactive eBilling market space.”
Seashols joins existing AVOLENT Board members Doug Roberts (CEO, AVOLENT), Habib Kairouz (General Partner, Rho Ventures), Karl Khoury (Partner, Columbia Capital), and Virginia Turezyn (Managing Director, Constellation Ventures).
About AVOLENT
AVOLENT provides application software for Interactive eBilling for large organizations that want to connect with customers online. AVOLENT's award winning BizCast software product suite streamlines all processes in the invoice-to-cash cycle through real-time electronic invoicing and payment, customer self-service, cash management, forecasting, and a unique patent-pending ability to dynamically adjust trade terms to meet corporate financial goals. AVOLENT's customers include AT&T, Do It Best, MasterCard, Highmark, Office Depot, Unisys, Wells Fargo, and two of the three largest PC suppliers in the world. For more information call (800) 553-5505 or visit www.avolent.com.
Press Contact:
Sharon Kawaguchi
Director, Marketing Programs
AVOLENT
(415) 553-6903
skawaguchi@AVOLENT.com
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AVOLENT and BizCast are registered trademarks of AVOLENT. All other product and company names are the property of their respective owners and are hereby acknowledged.
