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Proving It’s Who You Know That Counts, Contact Network Corporation Launches Enterprise Contact Application for Corporations, Professional Service Firms, and Universities

Latest Version of Collaboration Application Enables Organizations to Leverage Internal Connections to Improve Productivity Without Sacrificing Privacy

Boston, MA -- August 25, 2003 -- Contact Network Corporation (contactnetworkcorp.com), the leading provider of enterprise contact collaboration solutions, today announced the latest version of its Contact Network application to allow organizations to better leverage their extended network of employees’ contacts and use their collective relationship capital within a secure, private internal network.

Large global sales companies, professional service firms, and major universities all possess a vast network of valuable contacts and resources from employees within their organization, but it has been difficult to mine that information and share it in a secure, private, and effective way until now.

For example, when a large, global professional services firm with hundreds of employees scattered across multiple offices plans to pitch a new client, it has been a time-consuming, tedious and haphazard process for individuals to track down each colleague with the burning question "Do you know someone at [target company]?" The result is that most organizations do not effectively tap into their existing network of employees’ contacts to help close deals, win new business and share relevant information with one another.

"Typical companies today access less than thirty percent of their potential network of contacts," said Geoffrey Hyatt, co-founder and CEO of Contact Network Corporation. "Our clients have an enterprise-wide application that automatically captures potential connections and makes them accessible to help win business without sacrificing personal privacy.  The immediate revenue generated from closing one additional deal through using our technology is much higher than our subscription cost."

"The greatest asset of a venture firm is the experience and contacts of the firm," said Andrew Hallowell, Partner of Arcadia Partners. "I want our portfolio companies to leverage our network on every sale they make.  Now they can instantly check whether we can provide a contact, and make targeted direct requests for introductions."

"The Tuck School of Business is known for its tight-knit community and ability to help fellow graduates open doors to improve networking, especially in this difficult market," said Steve Lubrano, Assistant Dean and Director of the MBA Program at Tuck. "We were looking for an automated software solution that would run securely on our Intranet and give our students access to the great connections of their fellow students, professors, and faculty in the business world.  Contact Network’s application was simple to install and our students were immediately able to start sharing contacts and leveraging existing relationships to improve networking and expand job prospects."

How it works

Contact Network's search interface is intuitive and easy-to-use. Users simply enter a target company or industry and the search results instantly provide a ranked list of colleagues that may have useful contacts.  They then request introductions from their colleagues.

Personal privacy is guaranteed. Private contact information is never disclosed until colleagues choose to share it. In addition, all participants can set their privacy settings and level of sharing.

The ranking of search results is based on a proprietary algorithm that scores recent email traffic, electronic address book entries and employment history. The application is fully automated.  It requires no training, data input is automated and maintenance is included in the subscription fee.

Contact Network can run independently or be integrated into an existing CRM system to generate leads to feed the pipeline and facilitate introductions that can reignite a stagnant deal.

Who is using Contact Network

Leading professional services firms, including law, management consulting and financial services; Fortune 1000 sales forces; and higher education organizations are turning to Contact Network as an invaluable automated collaboration tool to leverage colleague connections and close sales, maximize networking opportunities and improve enterprise-wide intelligence gathering and knowledge management within a secure, private internal network.

Latest Features and Benefits

Contact Network Version 2.0 includes:

  • Improved search capabilities, including search by industry with full SIC coding at over 125,000 companies.
  • Additional privacy options, such as anonymous participation, selective participation to decide which groups of users can request information from which contacts, and pin-point participation to include/exclude individual contacts, companies or types of contacts.
  • Full support for Lotus Domino/Notes, in addition to continued support of Exchange/Outlook.
  • Extensive administrative dashboard for the Knowledge Management and IT staff, with full monitoring, real-time database and system statistics and an improved user administration console.

The Contact Network application is available now and provided to enterprises for a monthly subscription fee, which includes installation and full support.  For more information on the product, pricing and its immediate positive ROI, visit contactnetworkcorp.com, email , or call (617) 305 7456.

About Contact Network Corporation

Contact Network Corporation is the leading provider of enterprise contact collaboration solutions. The Contact Network application enables leading professional service firms, Global 1000 sales forces, and major universities to better utilize their extended relationship network to generate sales, facilitate networking opportunities, and improve knowledge sharing within a secure, private internal network.  Contact Network Corporation is a Boston-based, privately-held company. More information is available at contactnetworkcorp.com.

Contact:

Kerry Metzdorf, Red Javelin Communications, Inc.
978-463-2575

www.redjavelin.com