MINNEAPOLIS & RESTON, Va.--(BUSINESS WIRE)--April 26, 2005--U.S.
Bank eCommerce Suite, a service of U.S. Bank Corporate Payment
Systems, has demonstrated significant time and cost savings for
customers using it for their procurement needs in the first three
years since its launch. As a result, U.S. Bank has renewed its
reseller agreement with OrderHouse(TM) for its
Powered-by-OrderHouse(TM) branded solution, which is the foundation of
"The success that we've had with eCommerce Suite illustrates how
e-procurement solutions complement our purchasing card," said U.S.
Bank executive vice president, Rob Abele. "Renewing our reseller
agreement with OrderHouse demonstrates our ongoing commitment to
facilitating a seamless exchange between buyers and sellers."
U.S. Bank eCommerce Suite extends the functionality of the U.S.
Bank Purchasing Card program, by quickly and inexpensively connecting
buyers and suppliers via the Internet for cost-effective
e-procurement. Since initially deploying eCommerce Suite in 2002, U.S.
Bank has experienced 25 to 30 percent year-over-year growth in the
number of active orders and transactions taking place via the
eCommerce Suite application.
"U.S. Bank's customers and the market in general need a complete
Procure-to-Pay solution that captures and manages everything from
Level-3 order detail, to transaction settlement and reconciliation,"
said Jim Madaj, president of OrderHouse. "By renewing our agreement,
U.S. Bank is setting themselves apart from their competition by
offering proven, value added e-business products."
OrderHouse is a leading provider of Supplier Relationship
Management (SRM) solutions delivered as a service-oriented, on-demand
platform. OrderHouse offers a complete procure-to-pay platform
enabling organizations to quickly leverage its SRM solutions into
procurement, payment automation and supplier relationship initiatives.
The OrderHouse platform helps Small-Medium Enterprises (SMEs) and
Fortune 500 companies reduce the cost and complexity of implementing
eProcurement, Payment Automation and Supplier Enablement solutions. It
accelerates the delivery of top and bottom-line results. Through the
Powered-by-OrderHouse program, select financial services and
enterprise software partners deliver branded and cost effective
e-procurement, payment and supplier enablement solutions to their end
U.S. Bank Corporate Payment Systems, a division of U.S. Bancorp,
offers clients a full suite of solutions for commercial, fleet and B2B
payment needs. U.S. Bank was the first to offer corporate bankcard,
purchasing and relocation card programs, the first to offer a
private-label fleet card and is one of the largest merchant acquirers
in the world.
U.S. Bancorp (NYSE: USB), with $198 billion in assets, is the 6th
largest financial holding company in the United States. The company
operates 2,377 banking offices and 4,654 ATMs in 24 states, 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 in which the company pays customers if
certain key banking benefits and services are not met. U.S. Bancorp is
the parent company of U.S. Bank. Visit U.S. Bancorp on the web at
CONTACT: U.S. Bank
Corporate Payment Systems - Dan Endy, 612-973-1512
U.S. Bancorp Media Relations
Teri Charest, 612-303-0732
SOURCE: U.S. Bancorp