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Energy Company CIOs Reveal Firm Commitment to Integration Projects In TIBCO Software Survey
Economic Conditions Will Not Halt Key IT Initiatives For TIBCO Customers
Palo Alto, Calif., May 08, 2001 - A recent TIBCO Software Inc. (Nasdaq:TIBX) survey of 25 CIOs from the world's largest energy companies – including Reliant Energy, Enron, El Paso Corporation and Mirant – revealed that Information Technology (IT) projects focused on computer systems integration and business–to–business (B2B) e–commerce will remain a top priority, despite more conservative IT spending. A majority of those polled said integration projects, in particular, have proven to increase operational efficiency, secure new business channels and boost employee productivity, making solutions like TIBCO a key element in these companies' IT arsenal. All companies reported actively tracking return–on–investment (ROI) from IT investments. Most said current economic conditions have not stopped IT projects, and that they plan to move forward with business–improving initiatives.
"The survey results reveal that TIBCO energy customers are confidently pushing ahead with internal integration and B2B projects in order to reduce costs, generate revenue and gain a competitive advantage," said Peter Tebbenhoff, general manager for the energy industry, TIBCO Software. "We listen to our customers and provide them the tools they need to be successful: enterprise application integration, B2B and portal solutions, which are the pieces that make for a total integration solution."
Survey respondents reported fast access to market information, increased transaction volumes, automated processes and easy access to business and trading applications among the benefits provided by integration and B2B solutions, like those offered by TIBCO Software. Respondents said they expect several benefits from implementing their integration and B2B e–commerce projects, including enabling greater liquidity, expanding product offerings, offering self–service customer portals, enabling integration with legacy systems, and achieving deeper partner integration.
About TIBCO Software Inc.
TIBCO Software Inc. (Nasdaq:TIBX) is a leading provider of total business integration solutions delivering infrastructure software that enables companies to seamlessly integrate business systems in real time. TIBCO's products enable the real–time distribution of information through patented technology called The Information Bus™, or TIB®. TIBCO technology was first used to digitize Wall Street and has since been adopted in diverse industries including financial services, telecommunications, electronic commerce, transportation, logistics, manufacturing and energy. TIBCO's global customer base includes more than 1,000 customers such as Cisco Systems, Yahoo!, Ariba, NEC, Enron, Sun Microsystems, GE Capital, Philips, AT&T, Pirelli and AOL/Netscape. Headquartered in Palo Alto, Calif., TIBCO can be reached at +1 650 846 1000 or on the Web at www.tibco.com.
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TIBCO, TIBCO Software, The Information Bus and TIB are trademarks or registered trademarks of TIBCO Software Inc.
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Legal Notice Regarding forward–looking Statements: This release contains forward–looking statements regarding TIBCO's business, customers, markets served or other factors including the ability of products to meet customers' expectations, needs, or perform as described that may affect future earnings or financial results. Our actual results could differ in such forward–looking statements. Reasons for why actual results could differ materially include if products are unable to successfully meet customers' expectations, needs, or perform as described. Additional information concerning factors that could cause our actual results to differ materially from those contained in the forward–looking statements can be found in TIBCO Software's filings with the Securities and Exchange Commission ("SEC"), including but not limited to its most recent reports on Forms 10–Q and 10–K filed with the SEC on April 12, 2001 and February 27, 2001 respectively, which identify important risk factors that could cause actual results to differ from those contained in the forward–looking statements including limited independent operating history, history of losses, unpredictability of future revenue, dependence on a limited number of customers, relationship with Reuters Group PLC, rapid technological and market changes, risks associated with infrastructure software and volatility of stock price. Copies of filings made with the SEC are available through the SEC's electronic data gather analysis and retrieval system (EDGAR) at www.sec.gov. TIBCO assumes no obligation to update the forward–looking statements included in this document.
