TIE: EU Net-Challenge improves SME competitive position>
TIE: EU Net-Challenge improves SME competitive position
(Thomson Reuters ONE) - TIE Holding N.V. ("TIE") announced today that it is engaged in aEuropean Union project to develop visionary collaborative businessenvironment for small and medium enterprises.The Net-Challenge Project, funded by European and Chinese technologypartners, industrial users, research institutions and the EuropeanCommission was officially launched during a kick-off meeting held inPorto, Portugal, June 2009. The project will last for 30 months witha budget of ?4.3M and will involve fourteen organizations from bothEurope and China. TIE participates in the project and will receiveresearch funding from the EU to the value of ?440K.The Net-Challenge project aims to enable European SMEs to formso-called "non-hierarchical networks" which help improve theircompetitive position. Methodologies and software applications will bedeveloped to facilitate ebusiness connections in peer-to-peer (P2P)environments as opposed to the classical hub-spoke model. Net-Challenge aims to achieve P2P network effects for SME's similarto web 2.0, social networking, Skype-like solutions etc. that havetransformed the interaction between citizens.From a business perspective, user requirements and insight are key toNetChallenge; "SMEs are the lifeblood of Europe and represent 99% ofcompanies in Europe" said Luis Carneiro, Net-Challenge Coordinatorand Head of the Manufacturing Systems Unit of INESC-Porto RTD centre."To sustainably compete on the global market SMEs will have to adoptnew business models and establish business networks able delivercomplex products with reduced costs and fast delivery time.Net-Challenge will give SME companies, methodologies and softwaretools to create these networks and to support decision making in thiscompetitive environment. TIE is a key partner to implement thisstrategy and respective support tools."Mr Jan Sundelin, TIE CEO, says: "Innovation is important to Europeand vital to TIE to ensure its products are future-proof.Net-Challenge will significantly help SMEs maximize their ROI ineBusiness networks. It will reduce costs, bring more efficiency andallows the SME to interoperate with the global market. Whilst theeconomic situation still challenges many companies, the Net-Challengeresearch funding to TIE underlines and reinforces our leadingposition."Profile TIESupply Chain Integration Software Company TIE (NYSE Euronext: TIEHolding) bridges the gap between online and traditional business. TIEhelps industry and supply chain partners to achieve electronicbusiness collaboration with solutions in the traditional and upcomingmarkets like Data Quality Management, e-Invoicing, Master DataManagement and Digital Channel Communications. Our solutions areproven to lower costs, increase revenue and optimize businessprocesses. Because we have decades of experience to share, TIEremains a key contributor to the development and implementation ofglobal eCommerce standards. TIE is a publicly held company withoffices in the United States, France, and the Netherlands.Further information:TIE Holding N.V.Jan Sundelin, CEOAntareslaan 22-242132 JE HoofddorpThe NetherlandsT: +31-20-658 93 33F: +31-20-658 90 01E: info(at)TIEglobal.comW: www.TIEglobal.comhttp://hugin.info/133086/R/1326600/312263.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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