HUNTINGTON BEACH, Calif., May 10, 2005 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK), a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services, announced today that it has formed Sapphire Consulting Services, a wholly owned subsidiary of Quintek Technologies, Inc. This new unit will provide collaborative Supply Chain Management (SCM) consulting services to organizations at every stage of the demand driven manufacturing. The SCM services market is estimated to reach $40.5 billion in 2007, representing a five-year compound annual growth rate (CAGR) of 9.2%
"We provide professional consulting services for businesses looking to significantly improve upon their customer service and manufacturing and distribution operations, from strategic supply chain planning to order fulfillment and execution," said Scott Hine, President of Sapphire Consulting Services. "The Sapphire Consulting Services brand attributes include superior expertise in a combination of best business practices and applications of leading edge technology enablers."
Robert Steele, CEO of Quintek added, "This is a large and fast growing marketplace with major players positioning to profit from this growth." Steele ended, "Scott's experience and contacts gained while working with companies like International Paper and PeopleSoft should prove out to be beneficial to Quintek as he leads Sapphire towards rapid growth and profitability."
Sapphire's core services include supply chain efficiency analysis, implementation toolset expertise, tailored solutions training, systems integration and dedicated support for demand-driven manufacturing organizations. Sapphire utilizes fact-based analysis to implement best-of-breed practices that deliver a tailored business solution within the right timeframe and budget, as well as enhancing a client's unique competitive value in the marketplace.
A study by IDC found the SCM services market will expand from $26.1 billion in 2002 to $40.5 billion in 2007, representing a five-year compound annual growth rate (CAGR) of 9.2%
About Quintek Technologies, Inc.
Quintek Technologies, Inc. (OTCBB:QTEK), through its wholly owned subsidiaries Quintek Services, Inc. (QSI), and Sapphire Consulting Services, Inc., provides services to enable Fortune 500 and Global 2000 corporations to reduce costs and maximize revenues.
QSI delivers Business Process Outsourcing (BPO) services and solutions that enable companies 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. 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.
Sapphire Consulting Services, Inc. offers clients a broad range of supply chain management consulting services to improve customer satisfaction, enhance supply chain capability and help assure consistent competitive advantage through reduced product cost, reduced inventory investment and optimal supply chain security. A study by IDC found the SCM services market will expand from $26.1 billion in 2002 to $40.5 billion in 2007, representing a five-year compound annual growth rate (CAGR) of 9.2%
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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.