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Friday September 13, 8:30 am ET
Quorum Technical Services and nextSource to Partner to Provide Vendor Management Services
NEW YORK--(BUSINESS WIRE)--Sept. 13, 2002--Quorum Technical
Services, a provider of comprehensive IT Professional Services,
entered into a partnership agreement with nextSource, a wholly owned
subsidiary of Formula Systems (1985) LTD (NASDAQ: FORTY - News) and a leading
provider of human capital management solutions, to resell nextSource's
Talent Acquisition Management Solution(TM) (TAMS) to help their
clients gain increased control over their contingent full-time and
project worker spend.
Under the agreement, Quorum will offer nextSource's Talent
Acquisition Management Solution (TAMS) to augment its vendor
management programs. The result will be an innovative, comprehensive,
program that is tailored to meet each customer's unique business. The
partnership will offer Quorum's clients a web-based platform to
source, procure, and manage their staffing resources.
"This partnership will enable Quorum to deliver increased value to
our clients, at a time when they are all looking into new ways to
drive savings to their bottom line," said Jack Karamanoukian,
Executive Vice President of Quorum. " We feel that nextSource is a
leader in this field and are excited to offer TAMS as a vendor
management solution to our clients."
The nextSource TAMS 4th generation web-based software while
modular, scalable, and secure, is comprised of Sourcing, Procurement,
and Accounting functionality that allows clients to monitor and
control their workforce acquisition, vendor base and related spend.
The robust platform will enable Quorum's clients to significantly
streamline processes and reduce their total workforce spend.
"This partnership offers both nextSource and Quorum an exciting
opportunity for growth and development. Introducing this platform will
serve to enhance the existing relationships that Quorum has developed
over the years with its clients. In such a market where the ability to
provide clients with a vendor management solution is at a premium, the
alliance of the two companies is perfectly timed," said John Sculley,
Chairman of the nextSource Advisory Board.
For more information on TAMS, please check out www.nextsource.com
or email your inquiry to info@nextsource.com.
About nextSource
nextSource, headquartered in New York City is a subsidiary of
Formula Systems LTD. The company designs, develops and implements
web-based, high quality, innovative Human Capital Management
Solutions. Through The People Blue Book(TM), these offerings allow
customers to manage the business processes of job posting and
fulfillment, vendor selection, evaluation, and management; accrual of
spend; MWDVBE compliance; skill set and market-rate benchmarking. An
Oracle and Microsoft Certified Partner, nextSource has patents pending
on both its Talent Acquisition Management Solution (TAMS) and The
People Ticker(TM).
Founded in 1985, Formula Systems (1985) LTD (NASDAQ: FORTY - News) is an
international Information Technology company, principally engaged
through its subsidiaries and affiliates, in providing proprietary
software products, computer based solutions and software consulting
services.
About Quorum Technical Services
Founded in 1997, Quorum Technical Services, Inc. has been
providing comprehensive IT Professional Services for today's thriving
business market. This includes Fortune 500/1000 and the growing
segment of mid-sized companies who need our expertise to become
tomorrow's Fortune 100. Quorum's Global Information Technology
solutions encompass all areas of Information Technology. Our core
competencies are Staff Augmentation services, Project Management,
Outsourcing, Application and Database Development, Vendor Management
Programs and Human Capital Management.
Contact:
nextSource
Ed Remus, 212/736-5870
eremus@nextsource.com
Kate Rudgers, 212/736-5870
krudgers@nextsource.com
 
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