December 18, 2000, 2:53 PM — SAN JOSE -- RightWorks last week began shipping an updated version of its Windows NT Server software for online catalog-based procurement, and one customer, Wells Fargo Bank, is going to launch a new business based on the product.
The RightWorks 4.0 procurement package can be used to support customized selling of items by multiple organizations to their business partners. Wells Fargo plans to open an electronic commerce site based on the new software for use by the agricultural industry, a sector in which the company maintains a thriving banking business.
Under the plan, Wells Fargo will set up a Web site for buying and selling agricultural goods. As the center of this transactional crossroads, the bank could automate account credits and deductions according to a customer's wishes at the point of each purchase.
"This project is under development. But I can't tip my hand to my competitors by saying any more," says Michael Graves, senior vice president at Wells Fargo.
Wells Fargo will also use RightWorks 4.0 internally for Web-based purchasing of supplies that require employees to get authorization and approval.
The new multiorganizational support in RightWorks 4.0 lets each companymanage and access its own catalog, as well as configure the workflow according to the company's business rules.
According to RightWorks, each user organization can also specify data structures for different elements, such as general-ledger account numbers.
Another new feature lets employees make purchases without getting each individual requisition approved. The software does, however, keep the employees' manager notified of spending against the budget.
Pricing for RightWorks 4.0 starts at $250,000 for 1,000 users. For use in establishing community e-commerce sites, such as the one envisioned by Wells Fargo, RightWorks will typically offer a site-model license for 1% of the dollar volume going through a site.