MCLEAN, Va., Feb. 12 /PRNewswire/ -- XMLSolutions Corporation, a worldwide provider of software for conducting XML-based direct materials procurement, today announced a key solution for trading partners and systems integration. Lockheed Martin (NYSE: LMT - news) will install and implement XMLSolutions Business Integration Platform(TM) to better handle e-business communications with Boeing, Raytheon, British Aerospace, and other members of the Exostar(SM) Exchange.
In addition, Lockheed Martin will deploy XMLSolutions' B2B software suite to integrate legacy environments within its global operations, as well as enable divisions to communicate with the Exostar Exchange. Exostar is an independent, global e-marketplace for the $400 billion aerospace and defense industry.
``Our plan is to conduct 95 percent of our business electronically by the end of the year,'' said William Bryant, Lockheed Martin's Director of Enterprise Business Solutions. ``This ambitious objective includes up to 60,000 of Exostar's and Lockheed Martin's trading partners, 80 percent of whom do not currently support traditional EDI. These enhancements will increase the efficiency of our purchasing function and direct materials procurement while we significantly lower operating costs.''
Lockheed Martin anticipates using XMLSolutions Business Integration Platform to reduce procurement transaction fees (industry estimates report improvements between $75.00 to $150.00 to just $5.00 per document). The aerospace leader is using XMLSolutions Business Integration Platform to convert from a legacy, EDI and file-based system to an XML document-based architecture. Lockheed Martin will integrate its buy side, sell side, and financial services information, and will identify emerging opportunities for future applications of this technology.
``By addressing integration and interoperability issues head on, Lockheed Martin is building a trading system that will speed them to targeted results,'' said Ron Shelby, CEO of XMLSolutions. ``Our Business Integration Platform is removing technology constraints from Lockheed Martin's B2B transactions, increasing procurement efficiency and dramatically reducing costs.''
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin (www.lockheedmartin.com) is a global enterprise principally engaged in the research, design, development, manufacture and integration of advanced- technology systems, products and services. The Corporation's core businesses are systems integration, space, aeronautics, and technology services. Lockheed Martin had 2000 sales surpassing $25 billion.
XMLSolutions Corporation (www.xmls.com) enables the secure, real-time B2B exchange of direct materials transactions over the Internet. By eliminating a company's EDI and XML dialect dependencies, XMLSolutions removes trade barriers, enabling uniform transactions among customers, exchanges, and trading partners of all sizes. The XMLSolutions integrated solution includes support for XML-to-XML transformations; EDI-to-XML translation; and over 3000 mission-critical, industry-specific EDI business documents.
XMLSolutions is headquartered in Northern Virginia's technology corridor with offices in Atlanta; Charlotte; Chicago; New York; San Francisco; Bangalore, India; Seoul, Korea; South Africa; The Netherlands; Denmark; Austria; Sweden; Switzerland; Belgium; Germany; France; Italy; Spain; and the United Kingdom.