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everse corporation

For Immediate Release

Business Finance Magazine Features everse in August 2003 Print and Online Issues

LOS ANGELES, July 28, 2003 – everse corporation (everse), a technology consulting, software development, and application outsourcing company, is featured in the August 2003 print and online issues of Business Finance Magazine. everse CEO James Sung provided insights for an article titled “Use IT or Lose IT,“ which investigates the reasons behind low IT utilization rates at many companies and discusses strategies for achieving optimal utilization of IT assets.

According to the article, in response to a Business Finance survey conducted last year, “only 34 percent [of respondents] reported that their company uses more than 75 percent of its systems’ capabilities, and 20 percent said their organization uses less than 50 percent.“ The article points to the acquisition of extra functionality or free modules with software packages, excessive customization, cancelled IT projects, workforce reductions, shifts in business strategies and processes, disconnects between CIOs and CFOs, and poor end–user acceptance as common causes of low utilization rates.

Business Finance is a trade magazine about and for senior business and finance executives at mid–tier and large organizations – CEOs, CFOs, COOs, treasurers, controllers, finance directors, and business managers at organizations of at least $100 million in annual revenue. The magazine not only informs its readers about important trends but also educates them as to how to achieve best practices in many areas of business and financial management.

Business Finance asked everse CEO James Sung what he feels are the major causes of low IT utilization rates and what he considers to be successful strategies for achieving optimal utilization. The article reports, “James?agrees that inadequate training and lack of performance–based incentives can undermine utilization. To gain employee buy–in, a software project must have clear goals, senior management support and accurate definitions of business processes, he says.“

To improve IT utilization rates, the article recommends companies assess their systems’ utilization and ROI, realign implementations with business processes and goals, and retrain users. These are three of the central goals of everse’s Technology Assessment & Planning (TAP) service, part of the company’s Business Technology Consulting practice. Through TAP, everse helps organizations integrate business and technology objectives to enable comprehensive planning of technology and to design secure and adaptable technology platforms that facilitate business performance and growth.

According to everse CEO James Sung, “One of the challenges everse helps its clients address through Technology Assessment & Planning is recalibrating technologies to achieve greater utilization, effectiveness, and ROI. Business Finance’s ’Use IT or Lose IT’ article underscores both the complexity and the importance of this process from both a financial and an operational perspective.“

About everse corporation

everse is a technology consulting, software development, and application outsourcing company with offices in Los Angeles, New York, Bangalore, and Shanghai. The company mobilizes its expertise in Business Technology Consulting, Application Development & Outsourcing, and Enterprise Integration through its proprietary e-v-e-r-s-e Methodology. everse creates process-centric solutions that address the full range of its clients' functional issues and build long-term business relationships. everse has collaborated with Global 1000 and middle market companies including Allied Domecq PLC, Baskin-Robbins, Conexant Systems, CorVel Corporation, the California Public Utilities Commission, Enterprise Rent-A-Car Company, Farmers Insurance Group, Knott's Southern California Resort, Medtronic Minimed, Newhall Land and Farming Company, Pacific Gas and Electric Company, Southern California Edison, ValleyCrest Companies, and Vitesse Semiconductor Corporation.