Business & Transportation Editors
MINNEAPOLIS--(BUSINESS WIRE)--July 3, 2002--U.S. Bancorp
U.S. Bank Corporate Payment Systems concluded its Financial Supply
Chain Conference last month to overwhelmingly positive feedback from
the event's attendees. More than 1,000 customers and prospects -- from
both the commercial card and PowerTrack® side of the business --
attended the three-day conference, which featured 50 different
breakout sessions, new product introductions and demonstrations, and
hands-on training labs built around the conference theme: Financial
Supply Chain Management.
This event was simply spectacular, said Rob Abele, president of
U.S. Bank Corporate Payment Systems.
This was our first opportunity
to present our vision of financial supply chain management to a large
audience, and from the feedback I saw and heard, I think our customers
were very, very impressed. The breadth and depth of the content that
we presented was greater than anything we've ever done before, and I'm
very happy with our direction.
In addition to the presentations from U.S. Bank personnel,
conference attendees also had opportunities to view presentations from
an impressive list of industry-leading experts from companies such as
Commerce One, AMR Research, Accenture, Deloitte Consulting, Ernst &
Young, Microsoft and more.
This was certainly a dynamic conference, full of diversity to
fulfill the expectations of any client -- large or small, said Lisa
Wilson, the manager of procurement card services for the U.S. and
Canadian operations of Waste Management.
I expected `world class'
from U.S. Bank, and I got it!
The importance of this year's conference theme,
Chain Management, and how it can save millions of dollars for
companies large and small, necessitated combining the commercial card
and PowerTrack customers together in a single event.
The U.S. Bank vision for the `financial supply chain' is right on
target. The bank's decision to combine previously separate Corporate
Payment Systems' financial settlement offerings into one conference
indicates an evolution to support that vision, said Max Peterson,
vice president, public sector, for Commerce One.
Our presence, and
that of other solution providers, in the source-to-pay value chain
demonstrates that U.S. Bank has a plan to deliver business
efficiencies for its clients through integrated physical and financial
supply chain offerings. We're pleased to be a partner with U.S. Bank
in order to make this vision a reality for our mutual customers.
One of the key features of past U.S. Bank customer conferences has
been its tradition of incorporating customers into the information
flow; this year's conference was no exception. Many U.S. Bank clients
were asked to lead various presentations and to share their real-life
applications and best practices with one another.
Any time you can come away from a session having learned
something, it has been time well spent, and I learned a lot, said
Robert Todd, Waste Management's Director of Procurement for Canada.
PowerTrack is a patented business-to-business payment product
provided by the Corporate Payment Systems division of U.S. Bank.
Harnessing the power of the Internet, PowerTrack serves as the central
communications point between buyers and sellers synchronizing physical
supply chain events and the corresponding financial processes that
they trigger. PowerTrack's unique electronic management tools automate
the traditional paper-based payment process, which can take two or
more months. PowerTrack offers customers speedier payment -- in as
little as 2-3 days -- increased information flow, complete integration
with enterprise logistics and accounting systems, and overall cost
savings. To learn more about PowerTrack, call (800) 417-1844 or visit
us on the web at www.powertrack.com.
Minneapolis-based U.S. Bancorp (NYSE:USB), with assets in excess
of $165 billion, is the 8th largest financial services holding company
in the United States. The company operates 2,147 banking offices and
4,929 ATMs, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products
to consumers, businesses and institutions. U.S. Bancorp is home of the
Five Star Service Guarantee, which assures customers of certain key
banking benefits and services or customers will be paid for their
inconvenience. U.S. Bancorp is the parent company of Firstar Bank and
U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com and Firstar
Bank at www.firstar.com.
CONTACT: U.S. Bank
Teri Charest, Media Relations, 612/973-4594
Dan Endy, Corporate Payment Systems, 612/973-6901
INDUSTRY KEYWORD: BANKING TRANSPORTATION
SOURCE: U.S. Bancorp
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