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Press Release WiredCapital P3 Finance Platform™ to Integrate with WiredCapital teams with DoveBid® to Supply Lessors with complete process solution Redwood City, California (October 10, 2000) - WiredCapital, an application service provider for the equipment finance industry, today announced an agreement with DoveBid, Inc., a leader in Webcast and online business-to-business capital asset auctions and valuation services, to integrate the WiredCapital P3 Finance Platform™ with DoveBid. The WiredCapital P3 Finance Platform™ is an automated, end-to-end solution that enables financial institutions and equipment / software providers to offer their customers a more powerful and streamlined equipment finance process. Currently, the WiredCapital P3 Finance Platform™ automatically alerts clients to equipment that is nearing the end of its lease transaction term. Under this new relationship, WiredCapital clients will have the ability to upload information associated with their equipment into the DoveBid system for online asset disposition. By integrating the WiredCapital P3 Finance Platform™ with DoveBid, clients significantly reduce the costs associated with asset disposition and equipment remarketing. "DoveBid will now provide WiredCapital clients with convenient asset disposition services that focus on maximizing returns," said Jeff Crowe, president and COO of DoveBid. "We recognize WiredCapital for the strength of their technology solution as well as the company’s focus on enhancing client productivity while providing substantial bottom-line business value." According to the recent J. P. Morgan Securities, Inc. report, E-Finance – Architecting the Open E-finance Network: Built to Ride the Internet Wave, July 2000, the immediate and tangible benefits of automating business processes are motivating a rush to secure relationships with e-finance architects. Automation reduces processing costs by replacing traditional, laborious processes with fast, automated error-free capabilities. "The asset disposition element of any lease transaction has been largely dependent on paper- and labor-intensive processes," said Keith Duggan, chief executive officer of WiredCapital. "By integrating the WiredCapital P3 Finance Platform™ with DoveBid’s robust online auction capabilities, lessors will be able to achieve greater operational efficiency in conducting their disposition and remarketing efforts," Duggan continued. About WiredCapital WiredCapital is funded by SOFTBANK Venture Capital, Trinity Ventures and private investors. The company is located in Redwood City, California and can be contacted via the company’s website www.wiredcapital.com or at (877) WIRED77. About DoveBid Contact:
Daphne Li
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