HUNTINGTON BEACH, Calif., May 3, 2005 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK), a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services, has named Scott Hine to serve in the position of Vice President in charge of Quintek's newly-formed Supply Chain Management service line.
Quintek appointed Mr. Hine to the leadership position following its recently announced entry into Supply Chain Management (SCM) business. The company launched this new subsidiary to capitalize on revenue opportunities within the multi-billion-dollar SCM consulting services marketplace. The company expects to extend its core competencies in BPO and other technology services into the closely related SCM space.
A study by respected market research firm IDC estimated that the SCM services market will expand from $26.1 billion in 2002 to $40.5 billion in 2007. SCM solutions are systems designed to enable large manufacturers and other complex organizations the ability to manage critical processes, such as inventory, parts purchasing and others, with significantly improved levels of efficiency. The operational advantages provided by SCM solutions allow organizations to minimize inventory and production costs through preferred practices such as "just-in-time" inventory management, and other optimized procedures that make the organizations more efficient and competitive.
Mr. Hine is a veteran of the global supply chain consulting industry. He currently serves on the Board of Directors for the Supply Chain Council (www.supply-chain.org) and previously served on the Aerospace and Defense Special Interest Leadership team. His extensive career has encompassed multiple leadership roles with leading Fortune 100 companies, including International Paper's (NYSE:IP) Carter Holt Harvey subsidiary, JD Edwards & Co. (purchased by PeopleSoft), and PeopleSoft, which was subsequently purchased by Oracle Corporation (Nasdaq:ORCL).
As head of Quintek's SCM subsidiary, Mr. Hine will be tasked with development of the unit into a leading business process consulting organization, providing a full range of SCM and related services. Services will include supply chain analysis, best-of-breed technology implementation, training, systems integration and support for demand-driven manufacturing organizations.
"Scott's vast global business experience and proven track record of success in the supply chain management consulting industry will provide Quintek with an immediate footprint," commented Robert Steele, CEO of Quintek Technologies. "The extension of Quintek's business model into supply chain management will add to long-term shareholder value, and will allow us to effectively leverage our success in the BPO area in the closely parallel SCM marketplace."
Mr. Hine stated, "Quintek has already demonstrated both technical and marketplace success in complex business process outsourcing. This ideally positions the company to capitalize on the enormous revenue-building opportunities in global supply chain management. Our collaborative SCM solutions will give manufacturers and other complex organizations the ability to manage end-to-end supply and operations processes with much higher levels of efficiency. I am passionate about growing a new trusted brand in professional services."
About Quintek Technologies, Inc.
Quintek Technologies, through its wholly owned subsidiary Quintek Services, Inc. (QSI), delivers 21st-century Business Process Outsourcing (BPO) services and solutions that enable organizations of any size to secure and manage their key data processing demands with optimal efficiency and minimal costs. As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO computer applications and Information Lifecycle Management (ILM).
Quintek provides a range of mission-critical information and document-management solutions to organizations in document-intensive industries, including government, public utilities, healthcare, insurance, financial, legal, telecommunications and manufacturing. The company has built steady growth on a strategy of providing superior services and solutions, and continues to exploit the steadily increasing growth in BPO and ILM marketplaces; the Aberdeen Group, a provider of IT market intelligence, forecasts 13% annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion. For more information, visit http://www.quintek.com. For more investor-specific information, including daily and historical company stock quote data and recent news releases, please visit http://www.trilogy-capital.com/tcp/quintek. To read or download the company's Investor Fact Sheet, visit http://www.trilogy-capital.com/tcp/quintek/factsheet.html.
Safe Harbor Statement
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2004 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.