DATASTREAM ANNOUNCES OEM PARTNERSHIP WITH COGNOS
Cognos ReportNet™ Fully Integrates with Datastream 7i
Through New Advanced Reporting Module
GREENVILLE, S.C. – MAR. 28, 2005—Datastream Systems, Inc. (NASDAQ: DSTM) today announced its OEM partnership with Cognos, the world leader in business intelligence and Corporate Performance Management (CPM). This alliance provides Datastream customers with unprecedented capabilities for analyzing and reporting cross-enterprise asset performance, complementing Datastream’s industry-leading Analytics module which provides sophisticated modeling and forecasting capabilities to Datastream 7i users.
The partnership enables Datastream to integrate Cognos’ market-leading Cognos ReportNet™ solution into the new Datastream 7i Advanced Reporting module. This Web-based solution now gives Datastream 7i users even greater flexibility to create complex reports with drag-and-drop simplicity. Over 170 customers are already live on the new Datastream 7i Advanced Reporting solution, including companies such as Holly Corporation, KraftMaid Cabinetry, and FMC Airport Systems.
“The new Datastream 7i Advanced Reporting module, powered by Cognos ReportNet, enables us to generate highly detailed and granular reports on our critical asset management processes,” said Jim Wiegand, manager of maintenance systems technology for Premier Manufacturing Support Services, a leading supplier of facility management and manufacturing support services to the global automotive industry. “This provides us with valuable insight into our operations that we use to identify and seize opportunities for improving efficiency and cutting costs.”
Using Datastream 7i Advanced Reporting, users can produce invoices, statements and advanced graphical reports as well as a broad range of business reports, all through a single Web-based reporting solution. This enables customers to analyze their asset data in new ways so they can gain much greater visibility into the costs of operations and the performance of individual assets.
“Datastream is one of the first companies to apply the principles of corporate performance management (CPM) to asset management,” said Ted Jandl, Cognos vice president of worldwide OEM partners. “This makes Datastream a natural partner for Cognos, because we are recognized as the worldwide leader in CPM solutions. We believe that Datastream’s Asset Performance Management strategy should be a critical component to CPM initiatives for asset-intensive organizations.”
The new Datastream 7i Advanced Reporting module, powered by Cognos ReportNet, enables customers to configure reports specifically for Asset Performance Management operations. For example, reports can be configured to provide in-depth information on equipment failure according to equipment type, or failure analysis by failure code. Reports can be layered so users can drill down to get increasingly specific information simply by clicking on embedded hyperlinks in each report.
With these capabilities, customers can identify significant operational trends and anomalies, as well as their root causes. This enables swift resolution of asset performance issues resulting in measurable gains in operational efficiency.
“Datastream is constantly seeking to add powerful capabilities to Datastream 7i, either through new product features or by partnering with other technology leaders,” said Datastream CEO Larry Blackwell. “This powerful reporting solution enables customers to drill down into their operational data in new ways so they can identify opportunities to improve processes, reduce waste and, ultimately, to improve overall corporate performance.”
About Datastream Systems, Inc.
Datastream Systems, Inc. (NASDAQ: DSTM) provides Asset Performance Management software and services to enterprises worldwide, including more than 65 percent of the Fortune 500. Datastream’s solutions combine world-class asset management functionality with advanced analytics to deliver a powerful platform for optimizing enterprise asset performance.
By using Datastream’s solutions, customers can maintain and manage capital assets – such as manufacturing equipment, vehicle fleets and buildings – and create analyses and forecasts so they can take action to improve future performance. Datastream’s flagship product, Datastream 7i, delivers a complete Asset Performance Management infrastructure by combining an Internet, web services architecture with broad enterprise asset management functionality, integrated procurement, advanced analytics and multi-site capability.
Datastream was founded in 1986 and has customers in more than 140 countries. For more information, visit http://www.datastream.net/.
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Datastream and Datastream 7i are marks of Datastream Systems, Inc. (“Datastream” or the “Company”). All other products or Company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
This press release contains forward-looking statements involve a number of risks and uncertainties. Factors that could cause actual results to differ materially include, but are not limited to: the Nasdaq Hearings Panel may not grant the filing extensions requested by the Company for the 2004 Form 10-K, Form 10-Q for the quarter ended September 30, 2004, amended 2003 Form 10-K, and amended Forms 10-Q for the quarters ended March 31 and June 30, 2004; if the Nasdaq Hearings Panel grants the filing extensions, the Company may not be able to file those reports by the extended deadlines if the Company cannot complete its review and the independent auditors cannot complete their necessary procedures; the Company may not be able to comply with the other conditions for continued listing issued by the Nasdaq Hearings Panel; if the Company cannot comply with the conditions for continued listing, including if the Panel does not grant the requested filing extensions, the Company's common stock may no longer be approved for trading on the Nasdaq Stock Market, which could adversely affect the liquidity of the trading market for our common stock, and, therefore, could adversely affect the trading price of our common stock; with respect to the Company's review of its internal controls, the Company cannot be certain that it will be able to assess that the Company's internal controls were working effectively at December 31, 2004; the results of our continuing review of our financial statements and completion of our fiscal year 2004 audit; and other risk factors listed from time to time in Datastream's SEC reports, including, but not limited to the "Risk Factors" contained in Datastream's Annual Report on Form 10-K for the fiscal year ended December 31, 2003. Datastream does not have, and expressly disclaims, any obligation to release publicly any updates or any changes in the Company's expectations or any changes in events, conditions or circumstances on which any forward-looking statement is based.